Fortune | Miami real estate and preconstruction news
January, 11 2013

Miami, Fl: Paramount Bay enjoys $260 Million in transactions in 2012 and is expected to sell out within the first quarter of 2013
In another sign of the times in Miami's brisk real estate market, Paramount Bay, the residential condo tower located in the burgeoning Biscayne Corridor announced that it has sold over 90 percent of the building's entire portfolio. With limited inventory left (28 unites) and with a record breaking influx of local and domestic buyers that the building has experienced over the past few months, Paramount Bay is expected to sell out within the first quarter of 2013. "Paramount Bay is an exclusive building located within a unique and budding neighborhood that has attracted a variety of home buyers worldwide, and we have been very excited with the sales goals we have accomplished," said Edgardo Defortuna, President of Fortune International. Over 50 percent of all purchases originated from the US, specifically from within Florida which accounts for a third of all sales to date; followed by New York, New Jersey, Texas and Connecticut. On an international level, Latin Americans comprise one third of all owners in the building, with most sales stemming from Venezuela, followed by Brazil, Argentina, and Mexico. Read complete story here:
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