Paramount Celebrates Banner Moment As Tower Tops Off

Paramount Celebrates Banner Moment As Tower Tops Off


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South Florida citybizlist

With buyers from more than 50 countries, PARAMOUNT flies all 50 flags representing the most global buyers in one residential building in the United States Salutes 550 Construction Workers Involved with the Monumental Tower

To celebrate a banner moment in the construction of PARAMOUNT Miami Worldcenter- and flag the building’s unwavering internationalsales - developers and construction crews soared 50 flags from around the world atop the Miami Skyline as they saluted the more than 550 construction workers of the monumental tower.

Thesignature residential tower of the massive 27-acre mixed-use Miami Worldcenter development celebrated the building’s top-off onFriday, August 3. PARAMOUNT Miami Worldcenter developers Dan Kodsi, Nitin Motwani, and Art Falcone and the project’s general contractor, CoastalTishman,a joint venture between Coastal Construction and AECOM Tishman, marked the highpoint along with the hundreds of construction workers, engineers and sub-contractors involved in the project with a ceremonial on-site luncheon.

In United Nations-like display, the streaming flags symbolized each of the different nationalities represented among the tower’s buyer pool including: Argentina, Armenia, Austria, Azerbaijan, Brazil, Cameroon, Canada, Cayman Islands, Chile, China, Colombia, Costa Rica, Dominican Republic, Ecuador, Egypt, El Salvador, France, Germany, Greece, Guatemala, Haiti, Honduras, Hungary, India, Iran, Israel, Italy, Jamaica, Kuwait, Mexico, Monaco, Morocco, Netherlands, Nicaragua, Nigeria, Norway, Paraguay, Peru, Poland, Russia, Saudi Arabia, South Korea, Spain, Switzerland, Trinidad and Tobago, Turkey, Ukraine, United Kingdom, United States, Uruguay and Venezuela.

“This is a banner moment for PARAMOUNT Miami Worldcenter and we celebrate our construction team, sales team, financial institutions and future residents from around the world who made this vision possible,” said developer Dan Kodsi. “Miami has become a truly global city and this building is a clear indication of that with buyers from more than 50 countries. We take enormous pride in knowing that this tower reflects the soul of Miami – its diversity and potentialhas resounded overwhelmingly with families from around the world and we are one step closer now to welcoming our first residents home.”

The only residential tower currently for sale within the mixed-use Miami Worldcenter site – PARAMOUNT has made international headlines with its Upper Deck, which will debut as the largest amenity deck in the U.S., spanning 90 feet above downtown Miami featuring an extraordinary array of action-packed amenities that includes the country’s first outdoor soccer field to be featured in a high-rise residential development; two tennis courts; a resort-style pool; and multiple bungalows and villas, among others.

“The completion of vertical construction at PARAMOUNT – our signature condominium tower – marks another major milestone for Miami Worldcenter and the continued metamorphosis of downtown Miami,” said developer Nitin Motwani, managing principal of Miami Worldcenter Associates. “I want to personally thank CoastalTishman, and our entire team of professionals who helped us reach this stage. From this point forward, we’re going to see a steady stream of Miami Worldcenter’s mixed-use elements delivering to market – residential, retail, office and hotel – as our vision for a ‘city within a city’ in Downtown Miami becomes reality.”

“All of us at CoastalTishman are honored to build this landmark tower for Paramount Ventures and commemorate this moment with the entire team,” said Tom Murphy, Jr., chairman and CEO of Coastal Construction Group. “It’s so gratifying to be a part of such a visionary development that is changing Miami’s cityscape.”

PARAMOUNT has achieved more than $400 million in sales of their 500 city- and bay-view residences. Units range in size from 1,180 to 2,350 square feet, with prices starting at $750 per square foot.

Located in the heart of Miami’s downtown at the crossroads of culture, entertainment, art and fine dining, residents will enjoy an unparalleled location just an elevator ride away from Miami’s waterfront and most celebrated cultural and entertainment landmarks such as the Adrienne Arsht Center, Pérez Art Museum Miami, Phillip and Patricia Frost Museum of Science, and the American Airlines Arena. Also within Miami Worldcenter is the nearby proposed Marriott Marquis Miami Worldcenter Hotel and Expo and All Aboard Florida’s Miami Grand Central Station, which will allow residents direct service to Orlando in three hours, as well as connectivity to the Metro Mover and nearby Miami International Airport.

Construction crews from CoastalTishman, a joint venture between Miami-based Coastal Construction and New York-basedAECOM Tishman, poured the massive building foundation in October 2016. The tower is constructed atop Miami Worldcenter’s high street retail component, a pedestrian-oriented shopping streetscape that is being developed in collaboration with The Forbes Company and Taubman. Miami Worldcenter’s retail plan reflects downtown Miami’s emergence as one of the country’s fastest-growing urban centers, home to a population that has doubled in size since 2000, with a streetscape that has become more pedestrian-friendly in recent years.

For additional information about PARAMOUNT Miami Worldcenter, call (855) 756-0123, see www.PARAMOUNTmiami.com or visit the sales center at 1010 NE 2nd Ave., Miami, FL 33132.

About PARAMOUNT Miami Worldcenter’s Development Team:

Daniel Kodsi is a real estate industry veteran with more than 25 years of experience developing a diversified portfolio of mixed-use, multi-family, condominium and planned single-family developments. With $2 billion in completed projects, he brings a proven track record of identifying underserved market opportunities, executing complex large-scale projects, and generating value for private and institutional investors. With 27 separate development projects completed and underway and more than 6,000 units successfully developed or repositioned, he is consistently credited for defining new neighborhoods with award-winning projects.

Miami Worldcenter Associates, led by Principals Art Falcone and Nitin Motwani, serves as the master developer for the mixed-use Miami Worldcenter project. With more than 35 years of experience, Falcone has been involved in purchasing, financing, developing and managing a wide range of real estate product types. Falcone serves as CEO of Encore Housing Opportunity Fund, which has raised more than $1 billion in equity, and is director of Rescore REIT, which has approximately $3 billion in development. Falcone also serves as CEO and Chairman of the Falcone Group, a vertically integrated real estate organization whose subsidiaries have developed billions of dollars of real estate across the country.

Motwani serves as Managing Director of Encore Housing Opportunity Fund, which currently has over $1 billion of planned investments in Florida, California, Texas, and Arizona. He previously served as President of Merrimac Ventures and as an equity derivatives trader at Goldman Sachs in New York.

In 2011, Miami Worldcenter Associates partnered with CIM Group, a Los Angeles-based real estate investment company that makes equity and debt investments in urban communities throughout North America.

About Miami Worldcenter:

Occupying nearly 30 acres in the heart of downtown Miami, Miami Worldcenter is one of the largest private real estate developments underway in the United States. The ten-block project will include world-class retail, hospitality and residential uses in the center of Miami’s urban core. All told, the project is expected to account for $2 billion in new investment within downtown Miami. Learn more at www.miamiworldcenter.com.

For more information on Coastal Construction please visit: www.coastalconstruction.com.

For more information on AECOM Tishman please visit:www.aecomtishman.com.