“Miami is one of the most advanced condo markets in the world,” said Daniel Kodsi, CEO of Paramount Miami Worldcenter. “The residential component feeds off the retail component, and vice versa.”
Daniel Kodsi stands in front of a model of Paramount Miami Worldcenter.
Paramount Miami Worldcenter (PMWC) will be, in Kodsi’s view, one of the most standout residential developments in the world. Where Kodsi thinks PMWC sticks out above the rest (aside from the towering 700-foot addition to Miami’s skyline) is in the unmatched amenities. When completed, residents will have access to soccer fields, tennis courts, sky decks, resort-style pools, indoor gardens and walking paths.
Five-star resort living
PMWC offers 512 units ranging in price from $700,000 to $6 million, with units ranging in size from 1,294 to 2,376 square feet. With the exception of the 24 penthouses offered, Kodsi said the average price is between $700,000 to the $1.6 million range. This puts the price per square foot right around $700.
The amenities offered at PMWC read somewhat like those of a destination resort. There’s a boxing studio and aerobics space, but there’s also a soccer field and tennis courts. The outdoor field and courts sit on the ninth floor deck. This four-acre amenities deck is complete with pools, villas and guest suites.
Paramount Miami Worldcenter News Magazine Package from Bryan Glazer on Vimeo.
On floors 55 through 58 is the Paramount Yacht Skyview Deck. This area has spaces designated for yoga and offers nearly 360-degree views of downtown and the water.
Each condo is serviced by its own private elevator, something Kodsi said adds to the private feel of urban residential living. The condos offer 10-foot ceilings with floor plans designed to mimic the feel of suburban homes.
Exclusivity is paramount
This is Kodsi’s third Paramount-branded residential living space. The other projects are located in Fort Lauderdale and the Edgewater neighborhood. Likening Paramount residences to a franchise, Kodsi says that he is building the brand while understanding that there are only a few names to choose from when constructing residential properties of this magnitude. A previous Paramount tower in Fort Lauderdale is the only all-residential building in a strip of hotels.
Also, by aligning with the Miami Worldcenter from the start, Kodsi was able to secure a non-compete agreement in the initial phases of development. This means that Paramount Tower is the only for-sale residential units in Miami Worldcenter for now.
Nearly half of the residences at Paramount have already sold.
Miami Worldcenter
Miami Worldcenter (MWC) is a 27-acre development that aims to change downtown Miami living in more ways than one. Operating on a master plan, which Kodsi says allows the following of a singular vision, the first phase of construction will be Paramount. That master plan is also what allowed for this project to continue through the recession in 2007.
“The whole purpose of a master plan project is to not have individual builders coming in… you can follow a theme,” he said.
Paramount Miami Worldcenter Pile Driver Presentation from Bryan Glazer on Vimeo.
Associates with MWC began purchasing and acquiring the property in 2006. This purchasing slowed through the recession and picked up a few years ago.
Kodsi owned and sold some of the property where MWC will sit.
The development will house a five-block promenade with retail shopping and restaurants. Developers have committed 1/3 of the new construction jobs to the local workforce.
