PARAMOUNT MIAMI WORLDCENTER TOPS OFF IN DOWNTOWN MIAMI WITH OVER $400 MILLION IN SALES

PARAMOUNT MIAMI WORLDCENTER TOPS OFF IN DOWNTOWN MIAMI WITH OVER $400 MILLION IN SALES


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PARAMOUNT Miami Worldcenter has officially topped out in Downtown Miami as the tower is now an icon on the Miami skyline. Development and construction teams celebrated the banner moment by raising 50 flags from around the world atop the Miami Skyline in celebration of the more than 550 construction workers who helped achieve the milestone. The 50 flags represent the most global buyers in one residential building in the United States. The signature residential tower of the massive 27-acre mixed-use Miami Worldcenter development is being developed by Dan Kodsi, Nitin Motwani, and Art Falcone and the project’s general contractor, CoastalTishman, a joint venture between Coastal Construction and AECOM Tishman. Construction crews from CoastalTishman poured the massive building foundation in October 2016.

“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 potential has resounded overwhelmingly with families from around the world and we are one step closer now to welcoming our first residents home.”

“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 Miami Worldcenter is the only residential tower currently for sale within the mixed-use Miami Worldcenter site. The tower features the largest amenity deck in the U.S., spanning 90' 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. In all, PARAMOUNT Miami Worldcenter offers 500 city- and bay-view residences. Units range in size from 1,180 SF to 2,350 SF, with and prices start around $750 SF.

PARAMOUNT Miami Worldcenter has achieved more than $400 million in sales. 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.

PARAMOUNT Miami developers Nitin Motwani and Dan Kodsi are flanked by
CoastalTishman executives Sean and Tom C. Murphy atop the tower.