Paraiso Bay – The Icing on the Cake in the Edgewater Neighborhood

With several projects underway or about to begin, Paraiso Bay appears to be the icing on the cake in the Edgewater neighborhood.  Construction is set to begin in the next few months which will produce the most unbelievable masterpiece along Biscayne Bay that will only add to the draw towards Miami real estate. 

Paraiso means paradise and is the perfect description for Paraiso Bay.  Set on five acres, there will be two, 53-story towers with approximately (345) units offering a combination of  one, two, three and four-bedrooms in residence sizes ranging from just over 900 square feet to almost 2,500 square feet.  Every residence has gorgeous bay views as there are only a maximum of seven units on each floor lined up across the building.  Along with the majestic towers, there will be a beautiful public park and beach.

Paraiso Bay Location

Situated in revitalized Edgewater, Paraiso Bay will be located on the directly on Biscayne Bay.  Up until the past few years, Edgewater was considered one of the more questionable Miami neighborhoods but has since been the focus of a strong campaign to reinvent the area to a trendy part of the city.  More and more retailers and restaurants are setting up shop in Edgewater as well as the addition of more high-rise and mid-rise condominium projects. 

Edgewater sits in very close proximity to other popular areas like the Design District, Brickell and the Wynwood Arts District not to mention being close to other parts of Miami such as South Beach which is just across the Tuttle Causeway, a few blocks north of Paraiso Bay and the Miami International Airport just 15 minutes away. 

The Plans for Paraiso Bay

Under development by Jorge Perez and the Related Group, Paraiso Bay will be an unbelievable community.  The five-acre property’s plans calls for two huge residential towers and a Bay front park with a playground and more.  The best feature is that Perez has pulled off the ultimate coo by permanently closing 31^st Street to accommodate the property. 

Once again, Perez is tapping Arquitectonica to handle the architecture of the property.  As for interior design, United Design of London will create a beautiful interior while Enzo Enea handles the landscaping. 

Amenities at Parasio Bay

Amenities at Paraiso Bay entail so much.  From private elevators for each unit to an enormous pool deck elevated 40 feet and encircling a 100-foot diameter “lagoon” style pool facing Biscayne Bay, Paraiso Bay has everything.  Other features include an outdoor massage area and spa, a state-of-art fitness center, a half-acre park with playground, exercise area, walking paths and sculptures by artists from the National Young Arts Foundation, and so much more.  Other amenities at the base of each tower are under consideration.

Each residence unit will be decorator-ready and face Biscayne Bay with amazing views of South Beach with a flow-through design, Subzero and Bosch high-end appliances, European-style kitchen cabinets, nine-foot ceilings, faceted glass railing balconies and more. 

Real Estate at Paraiso Bay

While still in the pre-construction phase, the units will offer one, two, three, and four-bedrooms at Paraiso Bay.  The plans suggest that each floor will have seven units with penthouses on the upper floors.  Until construction begins, buyers can put down deposits as a reservation to hold a unit until they go to contract. 

Following is a list of the premium units available:

Unit	type	Sq.Ft.	Price	View
2608	1 BE/ 1.5 BA	919	$473,900	NW corner
3108	1 BE/ 1.5 BA	919	$497,900	NW corner
4108	1 BE/ 1.5 BA	919	$518,900	NW corner
4608	1 BE/ 1.5 BA	919	$533,900	NW corner
4808	1 BE/ 1.5 BA	919	$536,900	NW corner
4207	1 BE/ 2 BA + DEN	1004	$623,900	NE corner
4807	1 BE/ 2 BA + DEN	1004	$626,900	NE corner
2902	1 BE/ 2 BA + DEN	1062	$610,900	E
3702	1 BE/ 2 BA + DEN	1062	$618,900	E
4002	1 BE/ 2 BA + DEN	1062	$627,900	E
4502	1 BE/ 2 BA + DEN	1062	$653,900	E
3206	2 BE / 2 BA + DEN	1244	$728,900	E
3506	2 BE / 2 BA + DEN	1244	$737,900	E
3906	2 BE / 2.5 BA + DEN	1244	$754,900	E
3805	2 BE / 3 BA + DEN	1322	$783,900	E
3301	4 BE / 4.5 BA + DEN	2246	$1,360,900	SE corner
4301	4 BE / 4.5 BA + DEN	2246	$1,410,900	SE corner

As for deposits, there is a tentative payment schedule:

• 10% with Reservations
• 10% at Contract – December – January 2014 (tentative)
• 10% at Groundbreaking (mid-2014) 
• 10% at Completion of Floor 10 – Around the End of 2014
• 10% at Top Off – mid-2015
• 50% at Completion mid-2016

Paradise in Miami

Paraiso Bay, once completed, will be paradise in Miami for everyone who lives there.  Edgewater is being transformed into one of Miami’s top neighborhoods with Paraiso Bay offering some of the best Miami real estate.