The developer of the highly anticipated One River Point, Shahab Karmely, has just announced that he has picked up another 18,000-square-foot parcel along the Miami River. He hopes that the $5.4 million deal will complement the high-rise residential project already in the works. Along with his partner, Alex von Fürstenberg, Karmely plans to develop a two-story Mediterranean restaurant and lounge on the property, located at 131 N.W. South River Drive, which includes 200 feet of waterfront, perfect for dockside dining.

The property was previously owned by Mary Brickell and is currently home to a 2,441-square-foot warehouse, a 1,382-square-foot office building and a 2,225-square-foot townhouse.

Von Fürstenberg is the son of renowned fashion designer Diane Von Fürstenberg, and the founder and chief investment officer of Ranger Global Advisors LLC in California. The family office has more than $1 billion in assets, according to a recent article from The Real Deal.

“Alex and I share a passion for Miami and for the Miami River’s potential to rival the great river cities of the world as a destination teeming with life and entertainment,” Karmely stated. “We are very excited about increasing our footprint along its shores and bringing our vision of the Miami ‘Riviera’ to fruition.”

The One River Point project consists of two twin towers, 780 feet tall, connected by a three-story floating glass skybridge which will house a 35,000-square-foot private club. For more information about the project, check out my earlier blog, Sky Club at One River Point Miami Unveiled.