Paraiso District Construction Update: Paraiso Bay Closings Set To Begin September 2017

The Paraiso District is now 97% sold and on the verge of opening its first building. Here is a breakdown of each tower with current photos of their progress…

Paraiso Bay – Although previously announced as “Sold Out”, we have received word that one unit has come available. This one is an 05 line with a direct bay view. It has 1,326 square feet with 2 bedrooms, 3 baths and a den. It is being offered for $934,900.

We had previously heard that the building was set to open this month, but opening day has been pushed to September. Delays at the end of the construction process are pretty common, so we’ll be sure to stay abreast of any changes.

Paraiso Bay Homes – Although not as heavily publicized as the towers, the Bay Homes are probably my favorite phase of the complex. They are located directly across the driveway from the Paraiso Beach Club and directly under the pool deck for Paraiso Bay and GranParaiso (with their own entrance). They are townhouse-style beach homes with an average of 4,000 square feet and 3 or 4 bedrooms. There are currently 3 remaining that are priced between $1.9 million up to $2.4 million.

Paraiso Bayviews – The most affordable tower is also nearly sold out, with an anticipated opening of January 2018 after topping off in April. There are now 5 condo residences available and 7 penthouses. The prices range from $420,000 for a 1 bedroom plus den with a garden view to $650,000 for a 2 bedroom with sunset/skyline views. In the penthouse levels, remaining opportunities range from $630,000 to $1.6 million.

One Paraiso – In our most recent construction update, One Paraiso had just topped off with two opportunities remaining… a 1,680 square foot 3 bedroom, 3.5 bath with bay and ocean views for $1.45 million and a 4 bedroom, 4.5 bath penthouse with 2,850 square feet and bay/ocean views for $2.85 million. Both remain available with opening day projected for February 2018.

GranParaiso – The final tower to be completed is also the one with the most inventory to choose from. GranParaiso has currently reached the 46th floor of 53 total. We should see top off early in the fall and final completion in the Spring of 2018. There are 18 condo residences available, ranging from $960,000 for a 2 bed, 2 bath plus den with bay & ocean views, up to $1.88 million for a 4 bed, 3.5 bath plus den with the same view.

There are also four remaining penthouses from $2 million to $3.1 million.

For specific unit numbers and prices (if not listed in this post), just send us a message. We’re always happy to help. As for the Paraiso Beach Club and Amenity Complex, they are both coming along nicely and scheduled to open just in time for the first residents’ move-in.

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.

5 Most Expensive Rentals In The Downtown Miami Area

MLS Photo 900 Biscayne 6301

Lots of us are suckers for browsing fancy properties online and Miami is known for our flashy pads. Here is a list of the top 5 most expensive rental properties in the Downtown Miami area.

Four Seasons 48E – $22,500/month
Throughout the last building booms in Brickell, the Four Seasons has retained its stature as one of the best ultra-luxury properties in the neighborhood. People are familiar with the name and the level of service. For $22,500 per month, you can call this 3,357 square foot residence home. It has 4 bedrooms, 4 baths and tremendous east-facing bay views that include South Beach, Fisher Island, the Port of Miami and Key Biscayne. The listing photos don’t do this apartment justice, so here is a photo of the view.

MLS Photo Four Seasons Brickell 48E

Paramount Bay 4502 – $19,900/month
You can actually be the first to live in this full-floor residence at Paramount Bay. It has 4,437 square feet of walls of glass and 360 degree views. There are 4 bedrooms and 4 bathrooms, multiple balconies, a view from your bathtub, a hidden kitchen and all top-of-the-line fixtures that are detailed out in the listing photos.

MLS Photo Paramount Bay 4502

Four Seasons 56CD – $19,850/month
Skipping back over to Brickell, we have another option at the Four Seasons. Just like apartment 48E, this apartment comes fully furnished and designer decorated. This one is a combination of two west-facing apartments, so offers view of all of Brickell and westward into the Everglades. At night, the twinkling lights are amazing. The apartment is 3,253 square feet and has 3 bedrooms and 3 bathrooms. You can check out the photos here.

MLS Photo Four Seasons Brickell 56CD

900 Biscayne Bay 6301 – $16,000/month
Now we’ll head back over to Park West and visit THE apartment to have if you’re into backlit onyx. Probably the most photogenic of the bunch, 900 Biscayne Bay 6301 offers 3,199 square feet indoors and a 1,500 square foot terrace.  The custom backlit onyx stretches throughout the apartment, giving it a completely different feel at night versus the daytime look. You have to check the listing photos to see for yourself. It may not be everybody’s taste, but you can’t deny that it is fun to look at. It’s like a family home that transforms into a private nightclub when the sun goes down. Interesting. Very Miami.

MLS Photo 900 Biscayne 6301

Santa Maria 1202 – $15,000/month
Back in Brickell again, we will round out the list at Ugo Colombo’s 1996 stunner, Santa Maria. Possibly the most secure of all of the buildings, there are very few clues that this property is 20 years old. Unit 1202 has 3,170 square feet and 3 bedrooms, 4.5 bathrooms with wraparound terraces and views of both the Biscayne Bay and Brickell. This unit is furnished by Artefacto and I would say the most tasteful of the bunch. Because the building is as secure as a fortress, you will have a treat in the listing photos. There are some shots of the amenities that are not typically seen.

MLS Photo Santa Maria 1202

What do you think of the list? Were there any buildings that you were surprised to not see? Do you like the apartments? Let us know, we love hearing feedback!

Just Listed – Stunning 2 Bed/2 Bath Condo at Paramount Bay w/ Storage Room Included

I’m pleased to announce our newest listing – a stunning 2 bed/2 bath condo at Paramount Bay with 1,128 interior square feet, an 8-foot deep terrace totaling 242 square feet, white porcelain tiled flooring throughout, private elevator, 10-foot high ceilings with floor-to-ceiling glass windows, large walk-in closet with built-in cabinets, stone kitchen countertops, and stainless steel appliances by Wolf and Sub-Zero. Most importantly, this residence features sweeping, breathtaking views of Biscayne Bay from the kitchen, master bedroom, and master bathroom, including from within the glass-enclosed shower. Price includes a 150 square foot storage room located directly across the hallway from this unit.

The property is currently tenant-occupied but the tenant is scheduled to vacate by December 15th. Priced to sell quickly.  Asking $789,000. Last November, unit 1008 (exact same floor plan but located 9 floors lower on the 10th floor) sold fully furnished for $790,000. In my opinion, those 9 floors make a world of difference and more than make up for the fact that this property is being offered unfurnished.

Paramount Bay condos is located at 2020 North Bayshore Drive in Edgewater – Miami’s hottest, emerging neighborhood. Amenities include: east and west swimming pools; hot tub;  BBQ; 24-hour concierge; 24-hour valet parking; 6,000 square foot spa and fitness center with sauna, steam and private treatments rooms; business lounge; and separate teen and children’s playrooms.  Paramount Bay is a pet-friendly condo development.

If you or someone you know would like to receive additional information and/or to request a showing, please call or text me at 786-247-6332. I can also be reached via email at lucas@miamicondoinvestments.com.

HGTV’s 2012 Urban Oasis at Paramount Bay Hits the Market for $1.25M

This past October, HGTV awarded James Walley, a lucky viewer from Texas, a posh, two-bedroom condo at the prestigious Paramount Bay.  Not even two months later, that very unit has hit the market with an asking price of $1.25M.  This should come as to no surprise as the winner, come April, will owe a pretty hefty tax bill to the government.  The fully furnished and impeccably decorated 2 bedroom/2.5 bath condo is being sold turn-key.  The unit has 1,751 interior square feet, a private elevator and resides on the southeast corner of the building offering spectacular views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline.

For a full rundown on what this stunning condo has to offer, watch the 90-second guided tour below provided by interior designer Brian Patrick Flynn.

Paramount Bay Update

Earlier this afternoon, I was in the neighborhood so I decided to stop by Paramount Bay to get an update on pricing and availability and also to check on the progress that has been made to the common areas.  The amazing news is that Paramount Bay is now 69% sold.  That’s a remarkable feat given that the common areas were (and presently still are) a work in progress when sales launched on November 7, 2011.  Early buyers were rewarded generously, however, for believing that current ownership would deliver a building with common areas of superb quality.  There have been several price increases since November and, after touring the building today, I can tell you that early buyers made a very wise decision. Contractors have worked earnestly on the common areas since November and prices have adjusted accordingly as completion approaches 100%.  From what I saw today, Paramount Bay is shaping up to be one of the finest condominium buildings in all of Miami.

I also discovered that there are two penthouses still available for sale at Paramount Bay.  Both have 4,437 interior square feet along with 736 square feet of terrace.  One is located on the 45th floor and currently is being offered at $3,685,900 while the other is located on the 46th floor and is asking $4,001,900.  Below, you will see the price ranges that currently exist for the various floor plans at Paramount Bay.  Keep in mind that pricing is expected to increase as the common areas near completion.

Paramount Bay and Brickell House Hit 60%

I discovered yesterday afternoon that Paramount Bay now has 60% of its total units either sold or under contract.  That’s quite an accomplishment seeing that it was only four months ago that sales were launched. The penthouse units at Paramount Bay have all been sold.  The next most popular unit has been the 02 line which is a 3 bedroom/3.5 bath condo with 2,353 interior square feet.  That’s the largest non-penthouse floor plan at Paramount Bay.  Only 3 of those units remain.

For those unfamiliar with the development, Paramount Bay is an all-glass, luxury, waterfront condo development located at 2066 North Bayshore Drive in the Arts District of Miami.  The vast majority of the condos at Paramount Bay have a direct water view.  A number of great units still remain so don’t hesitate to contact us if you have an interest in touring the building and viewing any current availability that interests you.  Paramount Bay is a very high-end, exclusive building and will be a perennial favorite for years to come.

Brickell House, which began accepting pre-construction reservations in October, has 60% of its 374 total units under contract as of last week.  The 46-story, luxury condo development will be located at 1300 Brickell Bay Drive across the street from Jade.  Sieger Suerez was contracted to serve as the development’s design architect while Yabu Pushelberg and Artefacto will oversee interior design components.  To learn more about this pre-construction development, please download the Brickell House brochure or feel free to contact us with any questions that you might have.

These type of success stories demonstrate the current level of demand for new condos in Miami.  It’s no wonder that new condo developments are expected to soon be announced.

Miami Condo Glut is Coming to an End – reports The Wall Street Journal

In an article entitled “Miami Condos on Upswing,” The Wall Street Journal reported late Tuesday night that the Miami condo glut may soon be over as evidenced by recent sales activity. The article points to a 539-unit bulk deal at Midtown Miami which recently sold for $110M, or $183 per square foot. More importantly, the “acquisition represents one of the last remaining 100-plus unit bulk condominium opportunities in all of South Florida”.

The article also states that Icon Brickell, with 1,796 total units, now has fewer than 20 units remaining as of October and is expected to sell out in November. In my opinion, the sell-out of Icon Brickell will ultimately be heralded as the true end of the Miami condo glut. Icon Brickell was depicted, by the media and everyone alike, as the poster child of condominium over-development in Miami and, to me, is as symbolic as it gets. Once the last unit at Icon Brickell closes, those with real estate interests in Miami might as well bust out their vuvuzelas and make some noise because the biggest hurdle will have been overcome for the Miami real estate market.

The recent launch of sales at Paramount Bay is mentioned as well in the article. Paramount Bay launched sales around mid-October. I was recently told that 70 units at Paramount Bay have now either closed or are under contract. More surprising, is the fact that only 4 of the 11 total penthouses remain. None of the penthouses at Paramount Bay with the large terraces (1945 square feet to 2949 square feet) remain available. Given that terraces of that size are rather unique in Miami, there was a mad rush by buyers to grab those. Prices for penthouses at Paramount Bay with the large terraces were priced around $2.1M to $2.9M – a good indication that the luxury market in Miami is also performing stupendously.

Marquis Residences, a 292-unit luxury condo development located in Downtown Miami which was not mentioned in The Wall Street Journal article, hit an important sales milestone recently. I was informed last week that Marquis Residences is now over 75% sold. Remaining 2 bedroom condos start at $590,000 while remaining 3 bedroom condos start at $860,900. A few penthouse condos at Marquis Residences also remain available for sale.

Vizcayne, another condo development in Downtown Miami with remaining inventory, is now over 50% sold. Earlier this week, it was announced that no-doc seller financing is now available with 30% down to qualified buyers. That should make Vizcayne a very popular option among investors once this news is disseminated. Vizcayne prices range from $200K to $2M.

Inventory of new construction condos in Miami continues to dwindle with each successive month. By all accounts, it very well seems that 2011 will go down as the year that the Miami condo glut came to an end. With the worst behind us, I see 2012 filled with announcements of additional pre-construction condo developments throughout Miami. It will be the year that construction cranes will once again grace our skyline to fulfill the future demand for condos in Miami.

The Scoop on Paramount Bay

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.