Quick answer: This is the fourth Paraiso tower, and with it the campus can finally be read as a whole. Four buildings by one sponsor, delivered the same year, sharing a master association and an address, with four different propositions. Gran Paraiso sits at the workable end: three lettings a year, a 30-day floor, and no board approval of tenants. A buyer choosing “Paraiso” without choosing between the four is not choosing at all.
Four towers, four rules, one address
| Gran Paraiso | Paraiso Bay | Paraiso Bayviews | One Paraiso | |
|---|---|---|---|---|
| Completed | 2018 | 2018 | 2018 | 2018 |
| Residences | 315 | about 346 to 364 | about 382 | about 273 |
| Storeys | 53 to 55 | 53 to 55 | 44 | 53 |
| Smallest standard residence | confirm | about 919 sq ft | about 750 sq ft | about 1,124 sq ft |
| Minimum lease | 30 days | 30 days | 60 days | 30 days |
| Lettings per year | 3 | 3 | 12, non-binding | not stated |
| Board approves each tenant | not stated | not stated | not stated | yes |
That table is the reason this page exists. Four towers completed in the same year by the same developer on the same waterfront, marketed under one name, and the rules that determine an owner’s business differ across all four.
The practical readings:
For a furnished 30-day model, Gran Paraiso and Paraiso Bay are the towers. Three lettings at a 30-day floor supports corporate, relocation and seasonal tenants without a board sitting in the middle of each one.
For the lowest entry price, Paraiso Bayviews, with residences from about 750 square feet, but its 60-day floor removes the one-month tenant entirely.
For the largest residences, One Paraiso, at a higher entry and with every tenant subject to board approval, which adds days or weeks to each turnover.
Confirm each clause in the recorded declaration of the specific tower, with amendments. Campus-level summaries blur exactly these distinctions, and a listing agent working across all four will not always distinguish them either.
Why one developer writes four different rules
It is worth asking why a single sponsor, delivering four towers in one year on one site, would draft four different rental clauses. The answer is commercial rather than accidental, and understanding it helps a buyer read the campus.
Each tower was positioned for a different buyer. A tower of large residences at a high entry price is sold to owner-occupiers, and owner-occupiers want neighbours rather than tenants, so the declaration adds board approval. A tower of smaller residences at the lowest entry is sold substantially to investors, and a longer minimum stay keeps turnover down without banning letting outright. The middle towers sit between the two.
That is a sponsor segmenting its own campus so the four buildings do not compete directly for the same purchaser. It works commercially, and it produces the situation this page describes: four products marketed under one name where the differences that matter are buried in four separate documents.
For a buyer the instruction is simple. Decide which of the four buyer profiles you are before comparing prices, because the price differences across the campus are not discounts on the same thing.
Two associations, as everywhere on this campus
There is a condominium association for this tower and the Paraiso Bay Master Homeowners Association covering shared campus elements. Request budgets, reserve studies and funding percentages at both levels, and ask how the master budget is apportioned between towers.
Apportionment is usually by unit count or by floor area. With four towers of 273, 315, about 350 and about 382 residences and different average residence sizes, that choice materially changes what each tower pays. A tower with many small residences pays relatively more under unit-count apportionment; a tower with fewer large ones pays relatively more under floor-area apportionment.
Ask which basis applies and get it from the master association’s own documents, not from a summary.
Supply is the campus condition
Add the four towers together and the Paraiso development holds well over a thousand residences by one sponsor on adjacent parcels, with similar layouts, similar finishes and one address.
For a landlord that is the daily operating condition. A prospective tenant comparing residences across the campus is comparing near-substitutes, which compresses rent. A buyer seeing several listings at once has negotiating room that would not exist in a standalone tower.
The wider district adds more. Aria Reserve is delivering 782 residences across two towers a short distance away, with a third submitted for review in June 2025. Edgewater is absorbing a great deal of new inventory simultaneously, and a landlord here competes with all of it.
Underwrite rent conservatively, and ask two questions before offering: how many campus residences are listed for sale and for rent today, and how that compares with six months ago.
A 2018 building, and what comes next
A 2018 certificate of occupancy places the first milestone inspection near 2043 under the 25-year trigger that applies within three miles of a coastline, and it then repeats every ten years.
That puts the structural question beyond a normal hold, which is the main advantage of the whole campus over Edgewater’s older stock such as Quantum on the Bay, completed 2008 with an inspection near 2033.
What is live now is the first replacement cycle, at both tower and campus level, governed by two reserve studies rather than one. A tower funding its own reserves properly can still be exposed to a master association that is not. Request both, with funding percentages, and read three years of fee history at each level.
Insurance sits inside both fee levels and coastal condominium premiums have repriced every year since 2022. See the Florida property insurance guide, and for the district picture the Edgewater area page and the Miami market overview.
Confirm the storey count and what it counts
Sources give this tower as 53, 54 or 55 storeys, with the highest figure counting both levels of the duplex penthouses. That is a harmless discrepancy in itself and a useful reminder about a less harmless one.
Take the schedule of units and percentage of ownership from the declaration rather than any published unit count. That schedule states exactly how many residences exist and what share of common expenses each carries, and it is the only version that governs an assessment or a vote.
The same discipline resolved a real ambiguity at The Perigon, where published counts differ by ten depending on whether guest suites are included, and at Paraiso Bayviews, where sources range from 382 to 400.
Financing a two-tier campus tower
Obtain a written project eligibility determination before offering. Two features draw attention: the two-tier association structure, which lenders assess for how obligations are documented between levels, and investor concentration, which a 30-day letting rule tends to raise across a campus of this size.
Where a project is judged non-warrantable the conventional thirty-year loan is unavailable building-wide, leaving cash, portfolio lending or a DSCR loan underwritten on rent at a larger deposit. Overseas buyers work through foreign national mortgage programmes.
Verification checklist before you wire
- Get the recorded declaration for this tower with amendments, and read the letting clause in full.
- Compare it against the other three Paraiso declarations before choosing a tower.
- Request budgets, reserve studies and funding percentages for both associations.
- Ask how the master budget is apportioned, by unit count or floor area.
- Add the master assessment to any quoted monthly figure and recompute.
- Take the residence count and ownership percentage from the declaration’s schedule of units.
- Ask how many campus residences are listed for sale and for rent today, and six months ago.
- Obtain a written lender project eligibility determination covering the two-tier structure.
Which buyer this building suits
It suits a landlord running a furnished 30-day model who wants the campus amenities without the tenant-approval friction of One Paraiso or the 60-day floor at Bayviews. Among the four towers this one and Paraiso Bay are the operationally simplest.
It suits a buyer seeking scarcity poorly, and that applies to the whole campus rather than to this tower. Over a thousand residences by one sponsor on one waterfront, in a district absorbing hundreds more, is the opposite of scarce. Buy it for the product and the rules, model the rent against the campus rather than the market, and read all four declarations before deciding which door to buy.
Frequently Asked Questions
Owners may rent a maximum of three times per year with a minimum lease of 30 days. That matches Paraiso Bay on the same campus and is more permissive than Paraiso Bayviews at 60 days, while avoiding the tenant-approval requirement at One Paraiso.
It is the fourth tower of Related Group's master-planned Paraiso development in Edgewater, alongside Paraiso Bay, Paraiso Bayviews and One Paraiso. They share a master association and an address but not their declarations, and their rental rules and entry sizes all differ.
Completed in 2018 at 480 NE 31st Street, Miami FL 33137. Sources give 53 to 55 storeys, the higher figure counting both levels of the duplex penthouses, with 315 residences. The Related Group developed it as part of the Paraiso community.
Yes, as across the campus: a condominium association for this tower and the Paraiso Bay Master Homeowners Association for shared campus elements. A monthly figure quoted from a listing usually reflects only the first, so request both budgets and both reserve positions.
A 2018 completion places the first milestone inspection near 2043 under the 25-year coastal trigger, repeating every ten years thereafter. The nearer questions are the two-tier association structure and the first replacement cycle at both tower and campus level.
It depends on the letting model. Gran Paraiso and Paraiso Bay share the most workable rule at three lettings and a 30-day floor. Paraiso Bayviews is cheapest to enter but restricts to 60 days. One Paraiso has the largest residences and adds board approval of every tenant. Read all four declarations before choosing.
Compare all four Paraiso towers before you choose
Tell us the residence size and letting model you have in mind. We will come back with the recorded rental clauses for all four Paraiso towers side by side, both association budgets and reserve positions, the master apportionment basis, and current campus listing counts.