Modera Biscayne Bay Tower Tops Off – Preleasing Begins May 2021
Modera Biscayne Bay recently toped off on the 28-story tower located at 2150 N Bayshore Drive in Edgewater. This luxury mixed-use residential tower features 296 apartments for rent, 11,000 square feet of retail space, and an 8-story parking garage with 425 spaces. This tower was originally occupied by Unity on the Bay Church before demolition.
1, 2, and 3 bedroom apartments (den and penthouse options available)
Energy Star® stainless steel appliances
Quartz countertops
Tile flooring
Upgraded fixtures
Tile backsplashes
In-home washers and dryers
Walk-in closets
Programmable thermostats
Private patios or balconies
Select units feature:
15-foot ceilings
Breakfast bars
Double vanities
Linen closets
Built-in storage/shelving.
As construction continues with the last phase, Modera Biscayne Bay will begin pre-leasing in May 2021.
David Guetta’s Duplex Penthouse at Paraiso Bay (Video Tour)
As they say, good things come to those who wait. After waiting three-plus years for Related Group’s Paraiso Bay condo development to be completed, David Guetta’s custom-designed, duplex penthouse has been unveiled. The internationally acclaimed DJ and songwriter closed on it last September for $6 million and, after being on the market for only two days, was recently leased for $18,000 per month. Zelda Freud and Michael Wiesenfeld represented Guetta in both transactions.
Below is a video of David Guetta’s Miami penthouse. The three-bedroom, 4.5-bath condo residence was entirely custom-designed by famed Italian designer Piero Lissoni. Located on the 53rd and 54th floors of Paraiso Bay, it breathtaking views of the ocean, city, and bay. The first floor – which spans 2,387 square feet of interior space plus a 429-square-foot balcony – features a double-height foyer and wraparound staircase, a master bedroom, living room, and open kitchen. The second floor features a 373-square-foot den and 2,121-square-foot rooftop terrace with private pool and summer kitchen.
“The development brings together the best of everything that makes the city so magical – the ocean, cuisine, design, art and culture,” says Carlos Rosso, President of The Related Group’s Condominium Development Division. “With its endless list of amenities, impressive oceanfront location and close proximity to Miami Beach, the Miami Design District and Brickell, it’s no wonder we’ve had so many A-listers purchase residences here.”
Additional celebrities who have already purchased units at Paraiso include Alex Rodriguez, Gael Monfils, and Arantxa Sanchez.
A Photo Tour of the Amenities-packed Gran Paraiso
Gran Paraiso – the fourth and final tower of Related’s Paraiso District – has been completed. The 54-story condo development began closings on January 9th. To date, over 225 of the building’s 317 total units have closed (over 70 percent).
Gran Paraiso was designed by international architecture firm Arquitectonica with interiors and common areas designed by famed Italian designer Piero Lissoni. The non-penthouse residences at Gran Paraiso are comprised of one-, two-, three-, and four-bedroom options ranging in size from 1,075 to 2,232 interior square feet plus balcony. Each and every unit at Gran Paraiso offers direct, sweeping views of the water.
Perhaps the most amazing thing about Gran Paraiso is the quantity and quality of its amenities. To be fair, it’s perhaps the most amazing thing about Gran Paraiso AND Paraiso Bay because the two towers share amenities. When Paraiso Bay was delivered last April, it was said that roughly only 40 percent of its overall amenities were completed. That figure was almost incomprehensible because the amenities that were delivered at the time seemed plenty when compared to projects of similar size. (Keep in mind, Paraiso Bay has only 346 total units while Gran Paraiso has just 317).
The amenities that were delivered last April included a large clubroom with billiards table and catering kitchen; private screening theater; wine cellar and tasting salon; a cigar lounge with private humidors; teen’s game room; children’s playroom; a fitness center (albeit a smaller, temporary one); and a three-acre-plus, resort-style amenities deck with a dramatic circular zero-entry pool, outdoor spa, poolside cabanas, and summer kitchen.
Now, with the completion of Gran Paraiso, comes the rest of the amenities, which include a much larger, state-of-the-art fitness center with TechnoGym fitness and cardio equipment; a spin room equipped with TechnoGym bikes; indoor sports facilities with three bowling lanes, two billiards tables, two foosball tables, and high-definition golf simulator; Hammam spa with separate men’s and women’s steam and sauna facilities; and tennis center with lighted tennis courts and multipurpose court. Of those recently-delivered amenities, perhaps the most anticipated has been the bowling lanes. My photographer photographed it a few weeks ago on the day of its official opening and the management office already had reservations booked for several weeks in advance.
When added all together, one could easily make the argument that the amenities shared by Gran Paraiso and Paraiso Bay are the best in town. Related Group has delivered something enjoyable for all ages in this amenities-packed wonderland.
Over the past year, I’ve had the distinct pleasure of touring upon completion each of Related’s four Paraiso buildings with Carlos Rosso, President of Related. “We have created a luxury private neighborhood in Edgewater that will transform the area like we have done in the past with South of Fifth and Downtown Miami; Related has been the first developer to move in and redefine a whole area,” said Rosso. In Paraiso District, Related has brought interior designers from all over the world, including United Studio from London for Paraiso Bay, Piero Lissoni from Milan for One Paraiso and Gran Paraiso, Karim Rashid from New York City for Paraiso Bayviews, and, finally, Meyer Davis also from New York City for Amara Beach Club.
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A First Look at One Paraiso in Edgewater Miami
Three down, one to go! One Paraiso recently became the third of four towers in the Paraiso District to be completed by Related Group. Closings started at the beginning of last month. As of September 14th, when I toured One Paraiso with my photographer, the development had already closed well over 200 of its 279 total units. Gran Paraiso, which will be the fourth and final tower to be completed in the Paraiso District is expected to begin closings next month.
The common area spaces at One Paraiso, which were designed by famed interior designer Piero Lissoni, are impressive, to say the least. Known for his elegant and contemporary style, Lissoni uses minimalist design to create large, interconnected spaces using Earth tones to compliment and pull in the beautiful views from outside the building’s floor-to-ceiling glass windows. If there’s one reoccurring, consistent theme throughout One Paraiso, it is its VIEWS. As you will see in the photos below, from pretty much any common areas space in the building, you can see Biscayne Bay. Even the lobby at One Paraiso offers direct views of the water. And while that may not seem so unique or out of the ordinary, try to name at least two other condo developments in Miami that offer water views from its lobby (I can only name one other).
And when it comes to amenities, One Paraiso delivers in spades. The developer included a wide array of high-quality amenities, such as a ground-floor pool, poolside cabanas, and Jacuzzi; 10th-floor party room, business center, wine tasting salon, library, theater, and children’s playroom; 11th-floor fitness center and spa with plunge pool, saunas, steam rooms, and massage rooms; and sunset amenities deck with two additional pools, infinity-edge Jacuzzi, poolside cabanas, BBQ area, and tennis center with two lighted courts. (That’s a total of three pools to accommodate just 279 residences!!!) The tennis center, which was still a work in progress when I visited, is expected to be completed within the next month.
Each and every unit at One Paraiso offers a direct view of the water. The building’s 279 condo residences are comprised of one-, two-, and three-bedroom floor plans plus penthouses. The non-penthouse residences have 9-foot high ceilings while the penthouse residences have 10-foot high ceilings. The developer is completely sold out of inventory for One Paraiso, but a number of resales have hit the market in recent weeks. As of the writing, there are 23 units listed for sale ranging in price from $708 to $1,260 per square foot and 27 units listed for rent ranging in price from $2.41 to $4.24 per square foot.
Although no developer inventory remains for One Paraiso, there are a number of excellent options (including penthouses) that still remain at Gran Paraiso. Contact me for details!
Market Stat Monday: Biscayne Beach
As the busy season for Miami real estate progresses, we’ve noticed quite the increase of inquiries from both renters and buyers for one of Edgewater Miami’s most upscale developments: the beautiful, Biscayne Beach. Its most notable feature is found on the ground floor of the building – mainland Miami’s first-ever beach club, complete with sand, lounge chairs, beach volleyball, and cabanas. Also, a highlight of the building is the gorgeous interiors by internationally-acclaimed celebrity interior designer, Thom Filicia (of Bravo’s hit TV show, Queer Eye for the Straight Guy). Completed in July of 2017, Biscayne Beach saw its first condo resale in September and has since seen 6 other resales closed to date.
Let’s check out the stats for our prospective renters and buyers…
Current Inventory
According to the MLS, there are 68 units currently available for rent of the building’s 391 total residences, 9 listed as pending rentals, and 48 marked as rented. Of those 68 units available for rent, 20 are 1-bedroom floor plans, 34 are two-bedrooms, 12 are three-bedrooms, and the final two are a penthouse and a beach house residence.
82 units at Biscayne Beach are currently listed for resale, with 3 marked as pending, and 7 closed.
Closed Rentals
Here are the price ranges for the closed rentals to date:
-1 bedroom units: $2300 – $2900 per month
-2 bedroom units: $2,500 – $4,200 per month
-3 bedroom units: $5,200 – $6,600 per month
Closed Resales
Here are the sales prices for the 7 resales that have closed to date:
-1 bedroom units:
-#1009 – $573,000 ($488 per sq ft)
-#2009 – $504,000 ($477 per sq ft)
-#3509 – $530,000 ($501 per sq ft)
-3 bedroom units:
-#1907 – $1,050,000 ($499 per sq ft)
-#2307 – $1,255,000 ($597 per sq ft)
-#3307 – $1,250,000 ($594 per sq ft)
-#4007 – $1,400,000 ($666 per sq ft)
The fact that all the closed resales so far are either of the 07 or 09 lines tells us that these two floor plans are the building favorites. Considering that they are located at the southeast (07 line) and southwest (09 line) corners of the building, there’s no wonder why. The view really opens up to the south with the added bonus of being able to enjoy views of the Downtown Miami skyline and sunset.
While stunning bay views, gorgeously designed interiors, and high-end finishes are bountiful at Biscayne Beach, there’s no question that its amenities are what makes this building so unique. From a family-friendly club room and children’s water feature at the impressive beach club to a residents-only amenities floor with a BBQ, tennis courts, dog walking area, and a pool; all it’s missing now is a tenant for the large, commercial restaurant space on the waterfront side of the lobby level. Check out the photos below.
If you or anyone you know has an interest in leasing or purchasing a condo at Biscayne Beach, email us at info@miamicondoinvestments.com to speak with one of our expert agents.
Gran Paraiso Construction Video Showcases Jaw-dropping Views from Paraiso District
Construction of Related’s Paraiso District is in the home stretch. Along with Amara at Paraiso – a Michael Schwartz restaurant which opened last week along Biscayne Bay – Paraiso District is comprised of four luxury, high-rise towers, each scheduled to open later this year: Paraiso Bay, which is nearly finished with delivery expected this quarter; One Paraiso – expected to begin closings in Spring of this year; Paraiso Bayviews – expected to begin delivering units this Summer; and Gran Paraiso, which is very close to topping off and is aiming to begin closings this Fall.
The drone video below showcases the jaw-dropping views that one can expect from the condos at Paraiso District:
Paraiso Bay is completely sold out; all that remains at One Paraiso is a single penthouse which is asking $2.1M; Paraiso Bayviews has limited inventory starting at $579K; and Gran Paraiso has 1 to 4 bedroom options available starting at $800K.
Edgewater Penthouse Accepts Only Bitcoin
Have you jumped on the Bitcoin Bandwagon yet? If not, you cannot buy this penthouse!
That’s right, the seller of the Penthouse 2206 at Edgewater’s Platinum Condominium does not want your financed offer, or your cash offer for that matter. They accept ONLY Bitcoin and are asking $33 for the 1 bedroom unit. According to our handy currency conversion tool, this amounts to $542,000 USD.
While I commend the seller for their attempt at profiting from the buzzword of the hour, there are some fundamental flaws in their strategy.
FLAW 1: Alienating Potential Buyers Who Would Pay Cash
Whenever you are offering something for sale, you want that item to be available to as many people as possible. This is the reason Realtors are always saying to remove the clutter and personal items from your home before you put it on the market. In order to achieve maximum profit, you want the potential buyers to be able to see themselves living in the apartment and making it their home (or to see a solid profit in an investment). If you ONLY accept Bitcoin, you alienate all of those who would pay cash or get a mortgage.
FLAW 2: The Price
If you convert the price of $33 Bitcoin to US Dollars, it comes out to $542,000 (as of today). Even the biggest two bedroom in the building isn’t offered for that much! Check here to see the other available apartments in the building. They’re priced nowhere close to this unit. In fact, over the last 6 months the only two 1 bedroom apartments to sell both went for HALF of the asking price at PH 2206. Even the two bedroom apartments that sold traded for more than $100,000 less than this listing.
This is a hyped-up attempt to get away with overpricing an OK apartment.
FLAW 3: These Photos
Ah, these photos. If you’re going to post a listing that is overpriced by double, at least give us some photos that attempt to justify the price. Let’s go through them…
This one is great if you want to see a blurry depiction of what the view was like in 2014. Since then, at least 3 towers have been constructed within the frame.
The gym is nice enough, but the image could be sharper.
Same with the pool.
There are lockers and a sauna.
This photo was also taken in 2014. You can see IconBay in the background, but not the other towers that have been built around.
This photo is so blurry, you can’t even make out the name of the building behind the front desk.
The kitchen is nice enough.
Apparently there is a rule in this apartment that prohibits hanging photos or wall decorations by tenants.
So, there’s a washer/dryer in the apartment. I’m not sure this photo is a testament to how spacious the laundry area is, but at least you know it’s there, right?
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All-in-all, I think this listing should serve as a huge warning to bitcoin buyers. This seller is clearly trying to pull one over on the market and profit from the hype. BUYER BEWARE!
The boutique ultra-luxury building will be home to just 100 residences with only 1 or 2 homes per floor. Each home has both a sunrise view over the bay and a sunset view over the horizon. From the upper floors, even the Everglades are visible!
On the 30th floor is a luxurious sky lounge for the residents with each room designed to maximize a different time of day. Each residence also includes a membership to Luxury Attaché, an around-the-clock and around-the-world lifestyle concierge.
Prices range from $1.5 million to $10 million for the residences and up to $14 million for residences in the “Les Grandes Maisons” collection.
Want To Be The First To Try Out The Restaurant At Paraiso Beach Club?
Last week, we were excited to bring you a photo preview of Amara at Paraiso, the Michael Schwartz-owned waterfront restaurant at Paraiso Beach Club. This week, we can help you to be the first to try it!
Debuting the new bayfront eatery in proper Miami style (just ahead of condo closings and during Art Basel), Mr. Schwartz is opening for a special pop-up experience December 6-9. Dinner seatings are available from 7-9:30pm each night by reservation only.
Guests at Amara at Paraiso will dine on a special preview menu that includes snacks, cocktails, wine, beer, and four courses that are served family-style. The cost is $189 per person. Below is a peek at the menu, and you can reserve your spot here.
If you would like to move to Paraiso, price ranges include:
Paraiso Bay: SOLD OUT, closings begin January 2018 One Paraiso: Four bedroom penthouse available for $2.85M. Expected completion March/April 2018. GranParaiso: Two bedroom plus den plans from $978k, three bedroom plus den plans from $1.33M, four bedroom plus den plans from $1.67M, penthouses from $2M. Estimated delivery April/May 2018. Paraiso Bayviews: One bedroom plans from $570k, Two bedroom plans from $630k. Estimated delivery March/April 2018.
Paraiso Bay Homes: Prices from $2M, closings begin early 2018.
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