Paramount Bay Penthouse With 3,000sf Terrace Lists For $5.75M
If you are into outdoor space, we have a treat for you! This Paramount Bay penthouse has a sun deck that is larger than most people’s homes. It is really more of an outdoor living and dining room with 360 degree wraparound views for you and your 40 closest friends.
The property was listed a couple of weeks back by our very own Dora Puig and was the Elle Decor model residence when the building was undergoing their initial sales from the developer. It has light bleached oak hardwood floors, 10 foot ceilings and a fully customized kitchen. The layout is open and offers a full master bedroom wing with a private balcony. Both guest bedrooms have ensuite baths and the fourth bedroom is used as a service quarters. The apartment comes with 4 parking spaces and 2 storage units.
Paramount Bay condominiums is located in Edgewater, at 20th and North Bayshore Drive. The building opened in 2011 with interiors by Lenny Kravitz. The asking price is $5.75 million. Here are some additional photos, let us know if you are interested in a tour.
Aria on the Bay Lowers Deposit Requirement To 35% On All Units
Edgewater’s Aria on the Bay is slashing their minimum required down payment to 35%. Prior to the change, buyers were required to deposit at least 50% of their purchase price before closing.
The construction is currently on the 41st floor and will top off this summer at 53 floors. The 35% deposit schedule is: 20% of the purchase price is due within 2 weeks of the contract being signed and the remaining 15% is due at top-off. The final balance is due at closing in late 2017 or early 2018 although it is common for mortgages to be introduced for the final amount.
Aria on the Bay is Melo Group’s first luxury waterfront tower and is already a big success. They have sold 74% of the 647 units with an average price of $540/square foot. Remaining opportunities range from a $420,000 1 bedroom with 880 square feet and a south view up to the $1.6 million 3 bedroom residence with a den, 4 full bathrooms, private elevator and a 600 square foot terrace with north views.
Biscayne Beach Is Preparing Closing Letters
To prepare for opening day, the folks over at Biscayne Beach have begun reaching out to the buyers of their 399 new apartments. They are getting updates on contact information and finding out whether the apartments will be closed with financing or cash.
According to the developer’s representatives, closings will begin in January with cash transactions closing first. This barely misses their estimated completion date from the original marketing material in 2013. I always expect construction dates to be delayed, especially with large projects such as this one so delivering the project within a month of the original the estimated date is something to be celebrated.
This project is one of my favorite in the Edgewater area. The building is 51 stories and the amenities are unique. I hope we will get to take a photo tour for you once the TCO is delivered! Stay tuned as we work on that.
Unafraid of Market Slowdown, Colombian Developer Proposes Naranza at Edgewater
Ay dios mio! The Miami real estate market is in the doldrums and yet, hey this is Miami, where out-of-towners come to live out, and build, their flights of fancy. Hey, we don’t judge. Introducing Naranza at Edgewater, a 137 unit, 20-floor condo tower being launched in August by Colombian developer Prodesa. The building is at a site on NE 31st Street, East of Biscayne Boulevard, and immediately behind the Related Group’s Paraiso megaproject, which means the copious bay views in the project’s renderings (above and below) won’t actually exist. Sorry Charlie.
It’s being designed by Arquitectonica, and comes with the standard crop of amenities, including gym, clubroom, spa, and pool on the 6th floor amenity deck, and a roof deck up on the 20th. Anywho, according to Fortune International Realty, which is handling the sales, pricing is the least expensive per square foot available in Edgewater. 1 bedroom units start somewhere in the $300,000s. However, those 1-bedrooms are a rather smallish 650 square feet. Units range from there to larger corner two-bedroom units, with dens, in the high $500k. So, is it a bargain? You decide.
40% Sold, Rather Tacky Edgewater Condo Tower ‘Spark’ to Break Ground This Fall
A condo tower called Spark, by a developer called Spider (where do they get these names?) is gearing up for a fall groundbreaking at 533 NE 34th Street, with 40 percent of its 56 condos already sold. This is according to the Real Deal, which also says “construction would begin by the end of the year.” So, that’s like a window of, what, four months? Anywho, the tower is being designed by the Miami architecture firm of Behar, Font & Partners. From the renderings it looks like they might be going for a contemporary Little Mermaid-meets-MiMo motif, which, well, according to some people beauty is in the eye of the beholder. So, if you agree with that, behold! Units at the tower start at $500,000, and range between 955 square feet and 3,925 square feet for the largest penthouse. Oh, and there’s a big, beautiful empty lot right between this thing and the bay that’s primo development land, so if you’re buying in for those gorgeous bay views, you might want to reconsider. Or just don’t.
