Read the full record 4 paragraphs and 17 facts, every figure from the MLS and county record
Paraiso Bay is a 53-story tower at 650 NE 32nd St in Edgewater, completed in 2018. The Miami-Dade Property Appraiser lists 364 residential units, averaging 1,248 SF of living area. It was developed by Related Group and designed by Arquitectonica. Interiors are by United Design Partnership. The condo archive records it as waterfront (no / across water).
On November 2, 2026, 22 units were listed for sale, asking $625K to $4.6M (median ask $881/SF across 22 listings). Three more were under contract. 17 sales closed between November 2, 2025 and November 2, 2026, from $700K to $1.7M, a median $750/SF, after a median 80 days on the market. In the 12 months before that, 20 sales closed at a median $867/SF, so the median fell 13%. The MLS holds 181 closed sales here going back to 2019; among years with three or more sales, 2025 set the high at a median $867/SF. That 12-month median ranks 8th of the 32 Edgewater buildings with at least three sales in the same window. Two-bedrooms made up 16 of the 37 sales in the last 24 months, at a median $879,500.
Six units were offered for rent at $6,500 to $30,000 a month. 77 leases were signed over the same 12 months, at a median $5,650 a month (range $3,550 to $25,000). Leases outnumbered sales 5 to 1 over that year, so renters are a large share of who lives here.
About 27% of the residences are owner-occupied according to county records, which points to an investor-heavy ownership base. Association rules on file: no short-term rentals; minimum lease 30 days; up to three leases a year. The association is managed by First Service Residential. I have four of its association documents on file, including the Declaration of Condominium and the Amendments to the Declaration.
Sources: Miami Assoc. of REALTORS® MLS via Bridge IDX (activity as of November 2, 2026), Miami-Dade Property Appraiser records and my condo archive. Blanks mean the record doesn't state it; nothing here is estimated.
The record
- Address
- 650 NE 32nd St, Miami 33137
- Neighborhood
- Edgewater
- Developer
- Related Group
- Architect
- Arquitectonica
- Interior design
- United Design Partnership
- Management
- First Service Residential
- Front desk / mgmt
- (786) 369-5254
- Year built
- 2018
- Floors
- 53
- Residences (county-verified)
- 364
- Owner-occupied
- 27% of residences
- Avg. unit size
- 1,248 sq ft
- Total living area
- 454,152 sq ft
- County condo folios
- 364
- Waterfront
- No / Across Water
- Recorded MLS listings
- 853
- Also recorded as
- 650 NE 31st St
650 32nd St