There is a lot of excitement in the air regarding the Paramount Bay sales launch so I wanted to take a moment to share with everyone the latest information that we have. Sales are expected to begin on or around October 10th. At that time, a total of 60 units, 6 units from each of the 10 lines, are expected to be released. We expect pricing to increase after the initial 60 units are sold. The location of these 60 units has not yet been determined but we have been told that they will be scattered throughout the building with a few on low floors, a few on mid-level floors and a few located on high floors.
In addition to the 60 units, the 11 penthouses at Paramount Bay will be available for sale at that time. 3 of the 11 penthouses have already been reserved and we expect the remaining 8 penthouses to sell quickly. The remaining 8 penthouses range from 5,128 total square feet to 5,941 total square feet with 5 of the 8 having terraces over 1,900 square feet. It’s important to note that these terraces were constructed with 10-inch reinforced concrete which allows for a Jacuzzi, pool or outdoor kitchen to be installed.
Contact us if you have any questions regarding Paramount Bay or if you would like to schedule a tour.
Paramount Bay Sales to Launch Early Next Month
We received official word late last week that sales for Paramount Bay condos will launch early next month. Of the many condo developments constructed during the recent condo boom in Miami, Paramount Bay will be the last to launch sales. It is also one of the few luxury waterfront developments and perhaps the finest of the bunch. Buyers have eagerly been awaiting for condos at Paramount Bay to begin sales and we expect units to sell quickly. As a result, it is important for potential buyers to become familiar with the building and floor plans before the launch of sales. Last week, we were given a private tour of Paramount Bay and can offer the same opportunity to those who contact us with an interest to purchase a condo at Paramount Bay.
Please refer to the Paramount Bay condos website for full information regarding the sales launch and to view pictures of various condos at Paramount Bay.
Amar’e Stoudemire Sells W South Beach Penthouse for $5.2M
NBA superstar Amar’e Stoudemire has officially sold his W South Beach penthouse. The transaction closed earlier today and reportedly sold for $5.2M. The sales price represents a 20 percent discount off the $6.5M asking price established this past April. Stoudemire purchased the property directly from the W South Beach developer in July 2009 for $5,575,000. The 2 bedroom/2.5 bath duplex penthouse has 2,428 square feet of interior and an amazing 2,816 square feet of exterior space, including a private rooftop plunge pool and summer kitchen.
900 Biscayne Bay is on the brink of being completely sold out of its developer inventory. Only one developer unit remains, unit 1708, which is a 2 bedroom/2 bath with 1,285 square feet of interior. At this time last week, four other developer units remained but various buyers have stepped in since that time to help close out the building.
900 Biscayne Bay will be the first luxury condo development to sell out in Miami of those built during Miami’s recent construction boom. It’s an amazing feat given the state of today’s economy, the extent of the real estate market downturn in Miami since the peak of the market and the fact that 900 Biscayne Bay has 516 total units. In my opinion, 900 Biscayne Bay is a first-rate product that sells itself. It has a timeless decor, amenities that impress even the most discerning of visitors to the building and breathtaking water views of the Atlantic Ocean and Biscayne Bay. 515 down, 1 to go.
01 Line at Marquis Residences
The 01 line at Marquis Residences is one of the most sought after lines amongst luxury condo developments in Miami. Located on the southern end of the building, the flow-through unit offers both sunset and sunrise views along with views of Downtown Miami, Biscayne Bay, the Miami Beach skyline and the Atlantic Ocean. From floors 23-60, the 01 floor plan at Marquis Residences is a 3 bedroom/2.5 bath condo with 2,106 square feet of interior and a 243 square foot balcony on the east side of the unit.
We decided to make a video showcasing the 01 line at Marquis Residences because we have recently received a lot of interest from potential buyers regarding that particular line. We also feel that the unit offers the best views and pricing amongst developer inventory that is currently on the market. The video below shows a model unit at Marquis Residences located on the 48th floor. Marquis Residences is located at 1100 Biscayne Boulevard in Downtown Miami.
Update: The listing agent incorrectly stated the square footage of the unit on the MLS listing. The actual size of the unit is 6,438 square feet. The sales price of $10,576,000, however, was correctly stated. The condo sold for $1,643 per square foot, still high but far from record breaking.
In what amounts to be the highest price per square foot residential sale to ever take place in Miami-Dade County, a 3,180 square foot, 4 bedroom/4.5 bath condo at Continuum South Tower sold this morning for $10,576,000, or $3,326 per square foot. The 36th floor unit has marble and wood floors throughout and comes with 3 parking spaces. The following remarks accompanied the listing:
Breathtaking, panoramic view of ocean’s horizon through floor-to-ceiling glass throughout. Exclusive custom lighting, Macassar ebony paneling, private elevator lobby opens to a 20-foot fountain on intricate slate stone work. Floor-to-ceiling matchbook-cut marble surrounds each bathroom with custom features throughout. AMX customized security, audio and video network with personalized touch-panels in each room. State-of-the-art home theater. A true masterpiece that indulges every desire.
Here are additional pictures of unit 3604 at Continuum South Tower:
Luxury Condo Sale at Continuum South Beach North Tower – $6.5M
Another luxury condo sale in the books for 2011! A 4 bedroom + den/4.5 bath condo at Continuum South Beach North Tower closed yesterday for $6.5M. The 5,300 square foot condo has a private elevator, wide-planked wood floors throughout, 5 assigned parking spaces and offers views of the Atlantic Ocean and beach from the 8th floor. The condo sold at approximately an 18 percent discount from its initial asking price of $7.9M and closed in just 28 days after being listed.
Paramount Bay Condos
In anticipation of Paramount Bay launching sales in the coming months, I decided to launch my very own Paramount Bay website complete with floor plans. Obviously, more content such as videos and additional pictures will be added to the website once Paramount Bay officially opens to the public. Paramount Bay is a highly anticipated building and we’re confident that it will come to be regarded as one of Miami’s finest condo developments. I will be sure to let everyone know as soon as I hear anything new regarding Paramount Bay. Feel free to send me an email if you would like to be informed via email of the Paramount Bay sales launch date once it becomes available.
Over the past year, we’ve also launched the following building specific websites:
Penthouse A at Apogee South Beach closed yesterday for $11.5M. The transaction is the highest priced condo sale in Miami Dade County in 2011. Furthermore, it also is the fifth highest condo resale in Miami-Dade history. The penthouse has 6,853 square feet of interior, over 11,000 square feet of terrace, a private rooftop pool, a summer kitchen and offers 360-degree views of the Atlantic Ocean, Biscayne Bay and the city. The buyer was an undisclosed person from Europe.
2011 may turn out to be a very hot year for the luxury real estate market in Miami. There should be a lot of activity in the coming months, particularly in the luxury homes market. Currently, there are five waterfront homes priced over $9M that are under contract with the highest being a 15,008 square foot home listed for $32M. I’ll be sure to keep an eye on these properties and report back once they close. In the meantime, enjoy the following pictures of Penthouse A at Apogee South Beach.
