Paramount Bay Penthouse
November 3, 2009 by Lucas Lechuga
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.
I like it! Seems well thought out…even parking makes sense esp. with # of spaces and only on three floors. The floorplan is very nicely done and cool terrace. Much better than that other penthouse unit and far superior to the Jade Ocean unit you recently posted. Well done, well done… (of course, you have the $1,000 versus a better $2,000-$3,000 washer and dryer units….why developers do that instead of just skipping them altogether is beyond me…..what a waste since having a nice washer and dryer doesn’t cost that much more given the price of the unit, oh well). Is… Read more »
At last an architect that can put parking on 3 levels. Nice to see full size washer/dryer–top load suits me as always have to add things and no can do with front load. Perfect for busy people who entertain and don’t want maintenance of a house. Suggested retail?
Lucas, thank you so much. Now the problem with downloading has disappeared.
Thank you also for posting info on this building. The unit seems amazing. I am very impressed with master bathroom and a terrace. I have a friend who put a deposit on one of the units in Paramount at pre construction stage at a very high price obviously. Let’s see how much a developer is willing to negotiate on the price. I think as of now she invested around $300,000
renter tom
Its located near aj’s building…1800 club and QB. The wynwood district. This is by far the nicest building that i have seen in a while. I wonder if the developer is offering discounted pre-construction closing???….
btw fellow bloggers…Does anybody know what is going on with Miami World Center?
This is it! The only building in all of Miami (other than Continuum North) that I would dream of living in. I like everything about this building. The location on the perimeter of Pace Park, The walking distance to the Arsht Center, the views and everything else. The sunrise and sunset pools are gorgeous. I have not seen the gym but I am sure it will be outstanding. The waterfront Piazza and retail/restaurant mini mall is awesome too and when they are all filled in, in the course of the next 2 years, it will be the place to hang… Read more »
“All of the condo residences have a private elevator…”
So there’s 350 elevators, huh?
“Maid’s Qtrs” should be called the “Dedicated Sublease Unit”
I heard that Scott Rothstein put down deposits on all the penthouse units.
Wow almost all positive comments in a row..
Hi Drew, no it’s private per tier!
Lucas the app is well thought out and the media will eat that up same as they did with Tibor drama so look out 2010 for Lechuga’s RE biz… looking good in All regards but maybe step up the pics to a Nikon SLR?!
Way to go brother!! I love the terrace : )
$550 a square foot for the location? NO THANKS! Who would want to live in this shithole neighborhood that can afford to live south at Brickell or east on the beach? Please! This needs to drop down to close to ~200 a foot and then it will be worth it.
AJ said: “I love detached servants quarters in a flat. It is a rare luxury. Some might even put their mother-in-law in it as it looks quite posh.”
– Here we go again. It’s the size of a closet AJ!…
– One thing I noticed is the large terrace if not private from the units above…still a great unit but would have been even better with more privacy.
Who is Scott Rothstein?
Beautiful penthouse, one of the best we’ve seen. Great layout and that terrace has enormous potential. Unfortunately, to pay those prices at that location, you’d need to be smoking some of what their selling down on the streets in the hood below.
The maid’s quarters is an interesting touch, look to see these coming up for sublet on craigslist in the not too distant future…
Got it Drew. RT, thats why I said mother-in-law and not your mom. You got to be married to dig the mother-in-law jokes. Skeptic, Those who can afford to buy those digs dont need the additional $1000/month on rent it might provide. I think the quarters will be used to house their servant or as a storage room. The bathroom can be used for those big parties on the terrace so that strange guests you don’t know do not have to use the bedroom toilets. Overall, this is the most impressive layout I have ever seen with 2 bed rooms… Read more »
AJ – You can back peddle all you want, you said that little closet looks “posh”. It ain’t.
I can agree that this a great unit. I wish the terrace was a bit more private though.
AJ- Do you watch the news/read the paper? Rothstein was a managing partner of a Fort Lauderdale law firm that has about $400M missing…Rothstein was spending $10M/month recently, including $18M in real estate purchases in the past few years. Huge Ponzi scheme. Anyway my comment above was just a topical little joke.
Private acts must be carried out under the ledge of the upstairs terrace and not beyond. If more benign acts such as nude sunbathing is your thing, hey, you can’t do that even if you have pool on a 1 acre home site. The upper most PH on this stepped terraces will have the privacy. But so will be the price. IMO, the chance that the blokes in the PH above you will hang on to the South railing and stare down on your terrace is very slim. Most likely they will be hanging on to the East railing facing… Read more »
Only steps away from hookers, bums, and crack heads.
BTW, fixed HOA fees mean nothing because HOA will send out special assessment bills each year to make up the difference. Happens all the time.
Very nice penthouse unit and layout, mediocre location. I think most buyers would prefer something in Brickell.
LOOKS GOOD !!!
I agree with most comments, the layout is one of the best I’ve seen yet, and is leaps and bounds over some of these weird layout-ed places posted recently. The terrace is massive. It must be pretty spectacular to have all that space with the wide open views.
So what’s the asking price?
Agree that the unit is impressive, though I must join RT in questioning the lack of privacy on the terrace. What floor is this unit on? I would not like the likelihood of those above constantly peering over their balconies watching me grill steaks and bong beers in my underpants. Given the typical downtown condo dweller, this terrace will become a dumpster for all the hoodlums, squatters and hookers living above who are too lazy to walk to their own trash can.
The terrace is disappointing. No privacy and no pool or spa. What are you going to do with such a massive uncovered terrace? Sit up there and bake in the Miami sun?
A small pool would have been perfect (such as the PH units at Continuum, Apogee, Ten Museum Park, Il Vallaggio, Marquis, Setai, Icon Sobe, etc). True Penthouse units have pools or dipping pools on the balconies.
SBS, where is your imagination? I could do a million things on that terrace, having a party with 100 people on a fullmoon night being just one of them. It is 12″ reinforced concrete, so go ahead and put a small pool or a 10 person hottub if you want.
They said MCI readers are bitchy and unnessessarily critical of everything. But the previous PH units from some buildings featured on this blog roundly deserved the tongue lashing they got from everyone. But judging from the praise this unit got, one thing is clear, the MCI readers are a very descerning lot. They know a good thing when they see one. They saw positive features in this and they are not shy to display their approval. Very objective blogging indeed. Now only if we know how much this costs, we can get a second round of approval or a severe… Read more »
Right on the money. With half of the property size being the terrace, you would be paying for a large sq footage with no privacy and I could easily visualize people knocking at your door every day asking for items that fell from their balconies and onto your terrace.
This building should have never been built. The height is disproportional to the neighborhood. The terrace is a no go feature. No privacy. The neighborhood is within sight line to a very poverty stricken area.
A nice little pool would be great….did the developer have the foresight to make sure the necessary utilities are in place for a pool? Esp if a heated pool? It seems to be well thought out by the developer so the utilities should be in place. Anyone know?
Nothing wrong with getting that full body tan…
The terrace square footage is amazingly decadent, there’s room for a pool, gardens and more. Seeing hanging gardens would be awesome. Just a practical question: are there any city or building guidelines for plant/tree size in case of a hurricane? I can see the wind blowing across that outside space and taking away everything that wasn’t of substantial size or weight. In any case I’d love to see or even party at a fully decorated (inside & out) unit.
This balcony has been created by building setbacks, which contributes to the beauty of the building. I believe that falling casserole dishes are highly unlikely.
watsup with these guys complaining of falling trash from units above!! You only have one neighbor above you, another PH unit just like yours, who probably paid a couple of million for his own PH too. Take a look at the pic if your imagination is not that vivid.
Such an odd location for such a spectacular building. Is this the same developer who had a Paramount building proposed one block south of Marina Blue and why didnt they place this building there?
I agree that this blog should be used as an forum to share market insights instead of useless, negative comments like “trash will fall from the unit above”.. that’s just downright comical since if you live in your mom’s basement, then of course you wouldn’t be able to comprehend that buyers of these PH units spend as much into upgrades as they do for the price of the unit.. there are plenty of foreign cash buyers pouring into the US and spending half a mil to decorate a rooftop terrace with some cabanas or gazebos for privacy is a drop… Read more »
B- for location at best ..
Kramer, “Such an odd location for such a spectacular building” Not really. Just take an hour or two off your time and go there one evening. Spend a few minutes in Pace Park (right now the N bayshore drive is undergoing major upgrading and beautification and expect some construction hassles) and then walk around Paramount Bay. At the end, you will realize that there is no other spot better for this building right next to the water/bay. Yes, that empty lot next to Marina Blue belongs to the same guy and reserved for ‘Paramount Park’. If Paramount Bay would have… Read more »
nice building, although i think the developer took a few shortcuts by the end of construction (i need to walk thru and get a better look in the units).
lucas – what’s going on with pricing for the first level townhomes?
This is a now a Starwood property. Watch out for some amazing pricing on this property!
Lucas, is the sales center open. I passed by a couple of weeks ago to tour property and their was no one there.
discoverfla,
I can get you inside the building. Just give me a call.
jcrimes,
I was told not to discuss pricing on the blog but those townhouses are very aggressively priced. Feel free to give me a call if you’d like to discuss. 786-247-6332
Ok first off Starwood property, sales perhaps….think Hotel folks, as Starwood is more apt. for this in the area than another tower of Condos….As far as cutting corners of course they did as they faced bankruptcy in the end which is why the other projects are a NO GO!!! (hence the Corus to starwood debockle)…Just like the “Something about Mary House being saved as a restaurant-just another false promise by developers in the magic city…Now you see it now you don’t… As far as building is concerned just another oversupply of condo units to be delivered to a neighborhood still… Read more »
This building is my “neighbor,” and I’m very relieved the developer was able to complete construction of it. The waterfront promenade they created is very nice, and I look forward to seeing lights on in the units some day soon as residents or hotel guests begin coming in.
This building is architecturally interesting, and it has the potential for becoming an icon of the Miami skyline. It stands out very prominently and strikingly as one drives west from Miami Beach on the MacArthur Causeway.
Richard, I don’t think there is a hotel component in this building. But I agree with you on everything else. This is one of the best buildings in all of South Florida.
Condo Swindler, Certainly, they intended to keep the Mary House, but the tower crane segment that crashed through the house killing 2 men and inuring 5 destroyed the house.
The original developer definitely cut corners at the end of the construction process. Especially on the details that were last to go into the amenities.
The original developer is out, and Starwood Residential will hire a some top notch designers, tear out the cheap things, and replace them with the quality of finishes appropriate for those luxury residences.
It is a beautiful building and the neighborhood has definitely arrived.