Related tops off third Paraiso tower, aims for 2018 opening: PHOTOS

53-story, 276-unit condo tower is 99 percent sold

TRD MIAMI /
Jun.June 15, 2017 04:20 PM

The Related Group just topped off its 53-story One Paraiso tower as it works toward opening the four-tower complex early next year.

One Paraiso is the third building to top off, preceded by Paraiso Bay and Paraiso Bayviews. The 276-unit condo tower is 99 percent sold, Carlos Rosso, president of Related’s condo division, said during a tour of the property. Prices at One Paraiso, at 3131 Northeast Seventh Avenue, range from $600 per square foot to $700 per square foot.

A majority of buyers are European, Rosso said, including from countries like Italy, Turkey and France.

Only two units remain at One Paraiso tower, a $1.45 million, three-bedroom unit spanning 1,680 square feet and a 2,380-square-foot penthouse on the 49th floor. The penthouse is listed for $2.8 million.

The Edgewater complex, designed by Arquitectonica, will bring about 1,400 new condos to the area. The 317-unit GranParaiso is the next to top off.

The building’s amenities will include a two-story gym and spa with a juice bar and three pools. Miami restaurateur Michael Schwartz is opening an eatery and beach club next door, which is scheduled to open sometime by September.

Related got $117.5 million in financing for One Paraiso from TPG in mid-2015. Related has closed on more than $390 million in construction loans to complete the project, including a $93 million construction loan for Gran Paraiso in July of last year.

Photos by Katherine Kallergis


Related Articles

arrow_forward_ios
Hyde Beach House Resort & Residences, Carlos Rosso and Drew Sims

Sotherly closes on acquisition of Hyde Beach House hotel space

Jorge Perez and the development site

Related buys dev site in downtown Fort Lauderdale

Jorge Perez and New River Yacht Club III

Related Group nabs $48M loan for downtown Fort Lauderdale apartments

From left: Jorge Perez, Alex Karakhanian, Scott Sherman and Ben Mandell, with The Dorsey rendering

The Dorsey project in Wynwood wins design approval

Related Group building at 315 Biscayne Boulevard and Jorge Pérez (Credit: Google Maps)

Related Group lists downtown Miami HQ

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Nick Perez and the site at 1116 North Ocean Boulevard (Credit: Google Maps)

Related to launch Pompano condo sales in Q1 2020

CAPTION: Rendering of Residences by Armani/Casa, Jorge Pérez and Gil Dezer

Gil Dezer, Related complete Residences by Armani/Casa

arrow_forward_ios
Loading...