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.
A 7 bedroom/8 bath waterfront home in Coconut Grove sold last week for $13,419,495. The estate, located at 3500 Curtis Lane, resides on approximately 2 acres of land with an 11,000 square foot main house, a 4,400 square foot guest house and enjoys 300 feet of water frontage. The property includes a lit clay tennis court, a bayfront infinity edge pool, a private boat dock, an oversized air conditioned garage, a Boffi kitchen and a 2,000 square foot master suite. Truly, a beautiful home!
Last week, the New York Post reported that Amar’e Stoudemire had recently listed his W South Beach duplex penthouse for $6.5M. As many of you know, Stoudemire plays basketball in the NBA for the New York Knicks. Below, you will find pictures of his plush South Beach condo. The 2 bedroom/2.5 bath unit has 2,428 square feet of interior and 2,816 square feet of exterior space with a private rooftop plunge pool and summer kitchen. Stoudemire purchased the penthouse condo in July 2009 for $5,575,000 directly from the W South Beach developer.
Sales haven’t quite yet begun at Paramount Bay but the development was granted Fannie Mae approval last week. The conditional approval expires on September 25, 2011 which leads me to believe that we should expect sales to launch very soon. Paramount Bay, located in the Arts District of Miami at 2066 North Bayshore Drive, was developed by Royal Palm Communities and completed in 2009. The construction loan was originally held by Corus Bank which was later seized by the FDIC on September 11, 2009. Starwood Capital Group then acquired Corus’ real estate assets on October 2, 2009 by beating seven groups with a winning bid of $554 million. Paramount Bay was one of three condo developments residing in Miami that were part of the real estate portfolio acquired in that auction. Personally, I’m very excited about Paramount Bay and can’t wait to tour it again. I toured Paramount Bay in 2009 but the building wasn’t quite ready and I hear that Starwood has invested lots of additional money into the building over the past three months to really blow everyone away. No word yet on what pricing will be like but I’m expecting it to be close to that of 900 Biscayne Bay.
Luxury Condo Rentals in Downtown Miami
If you’re in the market for a luxury condo rental in Downtown Miami then you may want to take a look at the two gems below. Both rentals are stunning and came onto the market earlier this afternoon.
The first is a 4 bedroom/4.5 bath bi-level condo at Marquis Residences. The 57th floor unit has 3,880 square feet of interior with wood flooring throughout and comes fully furnished. Asking price is $12,000 per month.
The second rental is a 3 bedroom + den/4.5 bath penthouse at 900 Biscayne Bay. The unit has 3,493 square feet of interior, marble flooring throughout and an over-sized terrace unique to the 59th floor. The floor plan is pretty spectacular. Asking price is $8,900 per month. The condo is also available for sale at an asking price of $2,099,000.
900 Biscayne Bay #5901 – 3 bedroom + den/4.5 bath – $8,900 per month
Don’t hesitate to contact us if you have an interest in viewing either of the above two rentals. If these properties aren’t quite what you have in mind, please feel free to use our property search to find a rental that suits your style and needs.
Recent Luxury Condo Sales in Miami
Below are five recent luxury sales that have closed in Miami within the past 30 days. The unit at 900 Biscayne Bay marks the highest priced condo sale in the building for a non-penthouse unit.
Four Seasons Residences 49F – 3 bedroom/3.5 bath (3,795 square feet) – This condo sold for $3,025,000, or $797 per square foot, on February 17, 2011.
Four Seasons Residences 46B – 2 bedroom/2.5 bath (2,309 square feet) – This condo sold for $1,500,000, or $650 per square foot, on February 28, 2011.
Asia Brickell Key 1002 – 2 bedroom/2.5 bath (1,781 square feet) – This condo sold for $1,200,000, or $674 per square foot, on March 8, 2011.
900 Biscayne Bay 4006 – 3 bedroom/4 bath (2,335 square feet) – This condo sold for $1,100,000, or $471 per square foot, on February 28, 2011.
Bristol Tower 2101 – 3 bedroom/3.5 bath (3,065 square feet) – This condo sold for $419 per square foot, on March 11, 2011.
Alex Rodriguez & Cameron Diaz House Hunt in Miami Beach
Yesterday afternoon, Alex Rodriguez and Cameron Diaz were spotted house hunting in Miami Beach. The Yankees All-Star and Hollywood actress viewed a 6 bedroom/5.5 bath waterfront home in Miami Beach. The home is currently on the market for $5.35M. Rumors of an imminent engagement of the two lovebirds have circulated the Internet for weeks. Some speculate that a marriage proposal will be made as soon as Valentine’s Day. The couple’s latest plan to purchase a home together certainly seems to suggest that the rumors hold water. Only one question now remains, will Cameron allow the two centaur portraits Alex has of himself to hang on the walls of their future home?
Only 40 Developer Units Remain at 900 Biscayne Bay
I was notified earlier today that only 40 developer units remain at 900 Biscayne Bay. It seems highly likely that 900 Biscayne Bay will be the first luxury condo development in Miami to sell out completely of those constructed during the recent housing boom. My guess is that the building will sell its last developer unit some time towards the end of April. The amenities and common areas at 900 Biscayne Bay are second to none which helps to explain why pricing has fared so well despite the downturn in the market. The building also has strong financials. I was recently informed that the association has $2M in reserves. It is rare to find a building in Miami that can boast such stability. Be sure to check out the video below if you wish to learn more about 900 Biscayne Bay. Feel free to call us if you have any questions or would like to tour the building.
