One Paraiso

What Is Actually Inside One Paraiso

I pulled all 282 folios the county has recorded under ONE PARAISO CONDO at 3131 NE 7th Avenue in Edgewater. Of those, 273 are residential homes. The other nine break down as eight commercial (retail) folios and one reference folio — an administrative record the county carries for the declaration rather than a unit anyone can buy. That works out to 96.8% homes, 2.8% commercial and 0.4% administrative.

The building is overwhelmingly three-bedroom. Of the 273 homes, 173 (63.4%) are three-bedrooms, with 43 one-bedrooms (15.8%), 43 two-bedrooms (15.8%) and 14 four-bedrooms (5.1%). Two floorplates alone — 1,634 sq ft and 1,526 sq ft, 86 homes each — account for 172 of the 273 homes, or 63.0% of the building. If you’re shopping here, there’s a very good chance the unit you’re looking at is one of those two layouts.

Sizes run from 959 sq ft up to 3,297 sq ft, with a median of 1,526 sq ft — which happens to be one of the two dominant floorplates, not a number pulled from the middle of a wide spread. On the 2026 tax roll, assessed values across the 273 homes range from $585,640 to $5,144,628, with a median of $1,074,150.

So What Has the Price Record Actually Shown?

Here is the county’s qualified-sale record for the last four years, filtered to arm’s-length transactions with bulk or portfolio transfers excluded rather than averaged in:

Ninety-four qualified sales across four years is a solid sample for a single building — comfortably above the roughly-ten-sale threshold where I’d refuse to draw any conclusion at all. So I can say something here, and what the record actually shows is a building that has been remarkably stable rather than one moving in a clear direction.

Median $/sq ft opened 2023 at $960, eased slightly to $966 in 2024, rose to $995 in 2025, and sits at $968 so far in 2026 — a net move of +0.8% over the full four years. Median price tells a similar story: $1,430,000 in 2023 to $1,481,000 in 2026 to date, +3.6%. Both measures agree with each other, which is itself worth noting — I lead with $/sq ft because it’s the more honest number when floorplates vary, but at One Paraiso the price line isn’t lying to you the way it can elsewhere.

My honest reading: this is a flat building over the last four years, not an appreciating one and not a declining one. 2025 was a mild high point — $995/sq ft, the strongest year in the table — and 2026 has eased back toward where 2023 started. With ten sales already on the books for an incomplete 2026, I’d treat that as a real, if modest, pullback from 2025’s peak rather than noise, but I would not build a pricing strategy around a small year-over-year swing either. The four-year signal here is stability, not momentum in either direction.

The Building’s Largest Sale — and Its Largest Gain

The single largest transaction in the qualified-sales record — across all four years and, in fact, across the building’s entire sale history — is $7,250,000, paid on October 28, 2024, for unit UPH5303, a 3,137 sq ft upper penthouse. At $2,311/sq ft, it sits well above anything else that has traded here; the next-highest sale inside the four-year window is $3,950,000.

What makes that sale more interesting than a simple ceiling is what happened before it. The same unit, UPH5303, sold for $3,775,900 on October 18, 2018 — almost exactly six years earlier. That’s a gain of 92.0% over six years, and it is also the single largest resale gain documented anywhere in the building’s qualified round-trip record. The building’s record sale and its record gain are the same transaction.

That’s not the only penthouse-tier story here, and it isn’t a uniformly happy one. UPH5302 — a 3,297 sq ft unit, One Paraiso’s largest floorplate on record — sold for $3,500,900 on October 25, 2018 and resold for $2,125,000 on May 7, 2020, an 18-month hold and a 39.3% loss. It’s the steepest decline in the building’s round-trip record. I won’t speculate about why; the county record shows a transaction and a date, not a reason. What it does show is that the building’s largest units carry its widest swings in both directions — its best documented outcome and its worst sit in the same size tier.

More broadly, 170 of the building’s 273 homes (62.3%) have a documented round trip — a qualified purchase followed by a qualified resale, both legs over $10,000. Of those, 146 (85.9%) sold for more than the prior owner paid and 24 (14.1%) sold for less, with a median gain of 19.4% held over a median of 4.4 years.

Who One Paraiso Suits — and Who It Doesn’t

One Paraiso suits a buyer who wants a stable, liquid building over one chasing rapid appreciation. Four years of essentially flat $/sq ft pricing (+0.8% since 2023) means this isn’t a momentum play — the record simply doesn’t support an expectation of fast gains, and I wouldn’t sell it to you as one. What it does support is liquidity: 94 qualified sales over four years, roughly one home in 12 changing hands each year, gives a buyer or seller real, recent comparables to work from rather than a thin trickle of stale data.

The building’s heavy skew toward three-bedrooms — 63.4% of the 273 homes — means anyone specifically hunting for a one- or two-bedroom here is shopping a smaller slice of inventory (86 homes combined, 31.5%) than the building’s overall size would suggest. If a compact layout is the priority, it’s worth confirming what’s actually available before assuming One Paraiso is the deepest one- or two-bedroom market in the area.

If you’re thinking about selling: the round-trip record is genuinely encouraging — 85.9% of documented resales here have gone to the seller’s benefit, with a median 19.4% gain over a 4.4-year hold. But that median sits on a four-year price line that has barely moved since 2023. I would price a listing off 2025-2026 comparables specifically, not off the building’s five-year trajectory, and I would set expectations around stability rather than the kind of appreciation the penthouse-tier outlier above might suggest to someone reading the headline number alone.

Interested in selling at One Paraiso?

Learn more about selling your condo at One Paraiso with Josh Stein.

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Edgewater Condo & Loft Buildings

Edgewater runs along Biscayne Bay between the Venetian Causeway and the Julia Tuttle. Every building below is covered in this series, with its own county sales record:

• 1800 Biscayne Plaza
• 1800 Club
• Aria on the Bay
• Bay House
• Biscayne Beach
• Blue Condominium
• Cite on the Bay
• City 24
• Edgewater Lofts
• Elysee Miami
• Gallery Art Condominium
• Gran Paraiso
• Icon Bay
• Moon Bay
• New Wave
• Onyx on the Bay
• Opera Tower
• Paraiso Bay
• Paramount Bay
• Platinum Condo
• Quantum on the Bay
• The Crimson
• The Grand Condos Miami
• Uptown Lofts