The strength of Miami’s preconstruction market was on display this past week at the sales center for Gran Paraiso.
Units at the project, which first opened to reservations last week, are said to be selling fast. Related Group President Carlos Rosso told TNM that the developer has taken reservations on more than 20% of the project’s 317 units in the first week alone. Reservations continue to come in every day, he said.
Residences will include private elevators, ten-foot ceilings, and wrap around balconies, with interior spaces of the tower designed by Piero Lissoni. It is part of the Paraiso Bay master-planned neighborhood, which will include a park, a Bayfront Beachclub with a restaurant by Michael Schwartz, a tennis center and marina.
The sales pace is impressive, especially considering that prices are significantly higher than at it’s twin Paraiso Bay tower. Prices at Gran Paraiso start at nearly $700 per square foot, and range between $700,000 to $1.6 million. A 10% deposit is required to reserve units.
Units at two other projects in the complex, Paraiso Bay and One Paraiso, are nearly sold out. A fourth, lower-priced tower further away from the water, Paraiso Bayviews, has sold the majority of units.