Lenny Kravitz to redesign Paramount Bay

The new ownership of Miami’s 47-story Paramount Bay condominium has tapped Lenny Kravitz to redesign the property’s interiors and outdoor space, including the spa fitness center, lobby and pool terraces. The 340-unit project was taken over through a foreclosure by lender iStar and ST Residential, which recently ponied up the rest of the financing needed to complete the long-awaited, mixed-use tower. No opening date has yet been set, but brokerage Fortune International has been hired to market the residences. Kravitz’s New York-based Kravitz Design firm has previously worked on the Florida Room lounge at the Delano as well as the penthouse recording studio at the Setai Resort & Residences in South Beach. [SFBJ]