Who Is the Developer Behind Faena Residences Miami?

Faena Residences Miami is developed by FRM Associates, LLC — a joint venture between Fortune International Group, one of South Florida's most established luxury development firms, and KAR Properties, a New York-based developer known for ultra-luxury residential projects. The development is curated by Alan Faena, the Argentine visionary who created the Faena District on Miami Beach.

Fortune International Group

Founded by Edgardo Defortuna, Fortune International Group has been a major force in Miami's luxury real estate market for over three decades. The company has developed, co-developed, or marketed more than $10 billion in residential properties across South Florida. Fortune's track record includes some of Miami's most recognized developments and a particular expertise in marketing luxury properties to international buyers.

Fortune's experience delivering complex, large-scale luxury projects provides Faena Residences Miami with the operational infrastructure and local market knowledge essential for a development of this scale.

KAR Properties

KAR Properties, led by Shahab Karmely, is a New York-based development firm with a portfolio focused on ultra-luxury residential properties in prime locations. KAR has developed notable projects in Manhattan, including high-profile residential towers that cater to an international buyer base seeking best-in-class design and construction quality.

KAR brings a meticulous attention to material quality and design execution that complements Fortune's local expertise and Faena's creative vision.

Alan Faena — The Visionary

Alan Faena is the Argentine entrepreneur and cultural curator who transformed an overlooked stretch of Miami Beach into one of the world's most celebrated cultural districts. The Faena District on Collins Avenue includes Faena Hotel Miami Beach, Faena Forum (a cultural center designed by Rem Koolhaas's OMA), and Faena Bazaar — a collection of dining, retail, and experiential spaces that together create an immersive cultural destination.

"As we transformed Miami Beach into a global hub of art, culture, hospitality and design, we now embark on a new journey — one that promises to create a groundbreaking cultural epicenter along the Miami River."

Faena's ability to create environments that transcend traditional real estate — blending art, performance, design, and community into a cohesive living experience — is the core differentiator of Faena Residences Miami. This is not simply a branded residential tower; it's an extension of a proven cultural brand into a new neighborhood.

The Design Team

Beyond the developers, Faena Residences Miami has assembled an extraordinary design team: Rafael Viñoly Architects for the building architecture (one of Viñoly's final masterworks), Bryan O'Sullivan Studio for interior design, Sasaki for landscape architecture, and Juan Gatti and Andrés Reisinger for commissioned artwork. This level of design talent is rarely assembled for a single residential project.

What This Means for Buyers

The combination of Fortune's development experience, KAR's ultra-luxury execution, and Alan Faena's brand vision creates a project with unusually strong fundamentals. Buyers can take confidence in Fortune's track record of delivering projects on time and on spec, KAR's commitment to material and construction quality, and Faena's proven ability to create brand value that translates directly into resale premiums.