Paramount Bay Penthouse

November 3, 2009

The long awaited Paramount Bay is now available for purchase.  I had a chance to tour the building last week and take a look at some spectacular penthouse condos.  Paramount Bay is the most technologically advanced residential building in the city of Miami.  It is completely wired with fiber optics for Internet, telephone and cable which are included in the monthly maintenance fees.  Additionally, channels from over 30 countries are available through the digital cable provider.  Each and every unit comes with a P:Link tablet system which allows you to control and monitor lighting, music, window treatments, etc. from anywhere in the world.  Each unit also comes with one assigned parking space plus one complimentary valet space.  Additional spaces are available for purchase.  There are three floors of parking with a total of 600 (correction: 595) spaces available.  All of the condo residences have a private elevator and 10-foot ceilings.  Monthly HOA fees are 55 cents (correction: 65 cents) per square foot which are fixed for the first two years.  The building is expected to be Fannie Mae approved by the end of the month.  I also know a lender who can do stated income/stated asset loans at 60 percent LTV for foreign national clients.

Paramount Bay has a total of 46 floors but the penthouse condos are staggered across the building.  There are a total of 11 penthouse units.  The most appealing aspect about the penthouses at Paramount Bay is the size of the terraces.  They are enormous!  These were made for people who love to entertain outdoors for a large group of people.  Another interesting feature of the penthouses is that they each come with a maid’s quarters that is located outside the unit.

The penthouse in the pictures below has 3,455 square feet of interior and an amazing 3,089 square feet of terrace.

All of the appliances hadn’t yet been installed in the penthouse I saw.  The unit will have 2 Sub-Zero refrigerators, 2 Wolf ovens, 2 microwaves and 1 full height Sub-Zero wine bottle refrigerator.

Every unit in the building has a direct view of Biscayne Bay and the Miami Beach skyline.

The master bedroom

Master bathroom

Air jet Jacuzzi tub

The penthouse master bathroom has a glass-enclosed shower with a rain shower head, handheld shower wand and body jets.

All units in the building have a dual flush toilet.  This is a great eco-friendly feature and will end up saving the HOA money.

Second bedroom also has a direct water view.

Second bathroom

Third bedroom faces west

Full-sized side-by-side washer and dryer

Three shots of the maid’s quarters which is located across the hall from the unit.  It comes equipped with a full bathroom.

The terraces are an entertainer’s dream

The condo docs do not contain covenants against the placement of a hot tub, pool or outdoor kitchen.  In fact, the terraces were poured with 12 inches of reinforced concrete with the purposes of supporting the weight of a pool or hot tub.