The Real Deal Miami

Paramount Fort Lauderdale Beach tops off: PHOTOS

85 percent of the building's 95 units have been sold

October 19, 2016 12:50PM

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After nearly two years of construction, developers Nitin Motwani, Art Falcone and Dan Kodsi have topped off their 18-story Paramount Fort Lauderdale Beach condo tower.

The development team gathered Monday to sign Paramount Fort Lauderdale Beach’s final construction beam and hoist it to the tower’s roof. Workers poured more than 27,000 cubic yards of concrete to get to the top, and general contractor Stiles Construction will now shift its focus on building out the tower’s pool deck and unit interiors.

So far, 85 percent of the building’s 95 units have been sold. Prices for those remaining condos start at $1.65 million for a two-bedroom unit measuring 1,910 square feet, and range up to $9 million for the remaining penthouse. Peggy Fucci’s OneWorld Properties is handling marketing.

The tower, located at 701 North Fort Lauderdale Beach Boulevard on the site of the former Howard Johnson hotel, broke ground in December 2014 after the developers acquired the site for $20 million. Kodsi, Motwani and Falcone scored a $63.6 million loan from Bank of the Ozarks in July to help finance construction.

Paramount Fort Lauderdale Beach is expected to open by summer 2017. —Sean Stewart-Muniz and Katherine Kallergis