Miami Luxury Condos · Edgewater · Paraiso Bay
Price per square foot rose for three straight years.
By Josh Stein · Florida license SL3057661 · Updated 12 October 2026Leer en español →
23 condos for sale at Paraiso Bay, average list price $844.56 per sq ft (total list price ÷ total sq ft).
- Asking range$625,000 to $4,599,000
- List price per sq ft$844.56
- Months of inventory21.2
- Sold, 12 months13
Listing information is deemed reliable but is not guaranteed and is provided exclusively for consumers' personal, non-commercial use. Data is supplied by the MLS and may be subject to change or withdrawal without notice.
Last updated 1 second ago
Key facts about Paraiso Bay
| Address | 650 NE 32nd Street, Miami FL 33137 |
|---|---|
| For sale now | 23 |
| For rent now | 8 |
| Pending | 4 |
| List price range | $625,000 to $4,599,000 |
| Size | 706 to 6,676 sq ft |
| Bedrooms | 1 to 6 BR |
| List price per sq ft | Average $844.56, low $689, high $1,020 |
| Monthly HOA | $780 to $9,492 |
| Year built | 2018 |
| Amenities | Bike Storage, Billiard Room, Business Center, Clubhouse, Community Kitchen, Elevators, Fitness Center, Library, Maintenance Grounds, Management, Parking, Picnic Area, Playground, Pool, Putting Greens, Recreation Facilities, Sauna, Sidewalks, Spa Hot Tub, Storage, Tennis Courts, Trash |
| Neighborhood | Miami |
Residences at Paraiso Bay
| Bedrooms | For sale | Size (sq ft) | List price | Avg $/sq ft | Last sale |
|---|---|---|---|---|---|
| 1 | 8 | 706 to 1,055 | $625,000 to $855,800 | $910.41 | $700,000 (October 16, 2026) |
| 2 | 11 | 1,067 to 1,198 | $830,000 to $1,050,000 | $815.20 | $879,000 (October 2, 2026) |
| 3 or more | 4 | 1,872 to 6,676 | $1,895,000 to $4,599,000 | $840.92 | $1,660,000 (September 15, 2026) |
Unit lines
| Line | Records | Bedrooms | Size (sq ft) |
|---|---|---|---|
| 01 | 10 | 3 to 4 BR | 1,646 to 1,872 |
| 03 | 5 | 2 BR | 1,198 |
| 04 | 5 | 2 BR | 1,193 to 1,301 |
| 05 | 4 | 2 BR | 1,151 to 1,198 |
| 06 | 7 | 2 BR | 1,067 |
| 07 | 9 | 1 BR | 898 |
| 08 | 9 | 1 BR | 706 |
The last two digits of the unit number (05 in 305, 405, 505).
Recently sold in
4 listings
Verified 23 September 2026Miami-Dade County Property Appraiser1 source
On recorded 2026 sales this building runs $739 per square foot — cheaper than 71 of the 116 other buildings on the Miami Condo Index. Figures are closed sales from the Miami-Dade County Property Appraiser, not asking prices. Hover or tap a color to see the split.
Key Takeaways
- Paraiso Bay recorded 8 sales in the 12 months to 23 September 2026 — at a median of $870,000, or $739 per square foot, on the Miami-Dade County Property Appraiser record. The latest recorded sale was on 28 May 2026. Own at Paraiso Bay? Ask Josh what yours would sell for on WhatsApp.
- Price per square foot rose for three straight years — $787 in 2023, $834 in 2024, $860 in 2025 — up 9.3% — before a 2026 print of $739 that rests on only eight sales.
- I would not treat that 2026 figure as a fall of 14.1% — eight sales in an incomplete year cannot overturn three years of rises. The honest reading is up through 2025, and 2026 not yet established.
- The developer sold this building in 2018 and 2019 — 387 qualified sales in those two years at a median of $712,900 — which makes the original cost base visible.
- 180 of those first owners have since resold — 135 sold above what they paid and 45 sold below, with a median gain of 15.0%.
- Of the 26 who sold in 2025 or 2026, not one sold at a loss — their median gain was 23.8% — the more recent sellers have done better than the cohort as a whole.
- There are more four-bedroom homes here than three-bedroom ones — 37 against 27, in a building whose median home is 1,151 square feet.
Paraiso Bay, by the numbers
Developer: Related Group · Architect: Arquitectonica. Source: the building record on this site.
650 NE 32nd Street, Miami, Florida 33137 | Neighborhood: Edgewater
What the county record shows at 650 NE 32nd Street
The Miami-Dade County Property Appraiser carries 365 folios under PARAISO BAY CONDO, of which 364 are homes. The remaining folio is a parcel recorded under an older plat with no building area, and it is excluded here. There are no commercial units and no separately deeded parking folios in this condominium.
The bed mix has a genuine oddity in it. The 364 homes are 107 one-bedrooms, 192 two-bedrooms, 27 three-bedrooms, 37 four-bedrooms and one five-bedroom — that is more four-bedroom homes than three-bedroom ones, and that is the whole mix. Heated area runs from 706 to 6,676 square feet, median 1,151.
Five plans carry most of the building in near-equal share: 706 square feet (43 homes), 1,198 (43), 1,193 (42), 1,067 (42) and 898 (42). That is 212 of the 364 homes across five repeated layouts, so like-for-like comparables exist if you look for them by size rather than by bedroom count.
2026 assessed values run from $425,384 to $4,203,431, median $688,762.
Three years up, then a fourth I would not lean on
72 qualified, arm’s-length sales across four years. Portfolio transfers are excluded and identical same-day transactions collapsed to one.
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 27 | $930,000 | $787 |
| 2024 | 19 | $950,000 | $834 |
| 2025 | 18 | $865,000 | $860 |
| 2026 to date | 8 | $870,000 | $739 |
The per-foot column rose in each of the three complete years: $787, $834, $860, a gain of 9.3% across 64 sales. Then 2026 prints $739, which taken at face value is a fall of 14.1% in a single year.
I do not believe that number carries the weight people will want to put on it, and I would rather say so on the page than let it stand. It rests on eight sales in a year that is not finished. Three consecutive rising years on 64 transactions is evidence; eight sales is a sample that a couple of well-bought homes can move by that much on their own. The direction I am prepared to state is that this building rose through 2025. What 2026 is doing is not yet established, and I will know more when the year completes.
The median column tells a milder version of the same story and should be read with its usual caveat — it fell 6.5% across four years while the per-foot figure rose then fell, because the size of the home that sold moved between 1,121 and 1,198 square feet from year to year.
Turnover is roughly one home in twenty per year. The highest qualified price on record is $4,176,800, in April 2018, for the 6,676 square foot penthouse — a developer sale, and at $626 per square foot a lower rate than most of the building trades at, because size and rate move in opposite directions. The highest sale of the last four years is $3,450,000, in March 2023.
What the first owners actually got
Paraiso Bay was delivered and sold in a tight window, and that makes its original cost base legible: the county records 387 qualified sales here across 2018 and 2019, at a median of $712,900. Effectively the whole building changed hands inside two years, mostly as first sales from the developer (the 387 include some early resales: 366 fall in 2018 alone against 364 homes).
180 of those first owners have since resold in a qualified transaction — 135 sold above what they paid and 45 sold below. The median change was +15.0%.
The recent sellers have done better than that. Of the chains whose most recent sale falls in 2025 or 2026, 26 in total, not one sold at a loss, and their median gain was 23.8%. That is consistent with the per-foot series rising through 2025, and it is the strongest argument that the 2026 figure above is a sample-size artefact rather than a turn in the market.
One number in the distribution needs flagging rather than quoting. The worst chain in the set shows a 1,151 square foot two-bedroom bought at $820,900 in April 2018, resold at $745,000 in March 2019, and then recorded again at $299,400 in December 2021 — about $260 per square foot in a building trading near $800 at the time. The county has it flagged as qualified, but it does not behave like an open-market sale, and I am not going to present it as evidence of what a home here is worth. Excluding it, the worst outcome in the cohort is −24.2%: a one-bedroom bought at $870,900 in 2018 and resold at $660,000 in February 2022. That is a real loss and it belongs on the page.
Who should be buying at Paraiso Bay?
It suits a buyer who wants a larger home in Edgewater. Thirty-seven four-bedrooms in a 364-home building is real depth.
It suits a buyer who wants a visible cost base. With 387 qualified sales in the first two years on record and 180 resales measured against them, you can see what the people ahead of you paid and what they got — and check every figure yourself in the same public record.
It suits a buyer who needs certainty about right now badly. The three-year direction is up; the current year has eight sales and says something different. If you need to know what your home is worth this quarter, this record cannot tell you with confidence, and nobody quoting you a 2026 figure from this building should pretend otherwise.
If you are selling here, use the 2025 evidence and your own floorplate, not the 2026 median. Twenty-six original owners have sold since the start of 2025 and every one of them was ahead — by 23.8% at the median. If a buyer quotes $739 per square foot at you, the answer is that it comes from eight transactions in an unfinished year, while $860 comes from eighteen in a completed one.
Own at Paraiso Bay?
If you own here, this page already carries the county’s record of what homes in Paraiso Bay have sold for. Here is how to use it.
Your three options
- Sell. Price against what comparable homes in the building have actually recorded, not against asking prices.
- Rent it out. Within the condominium’s rental rules, which vary from building to building.
- Hold. Watch the record: this page is updated from the county as new sales are posted.
What I will send you
Tell me your unit. I will send you the recorded sales of comparable homes in Paraiso Bay, what they sold for per square foot, and a straight read on what yours could sell for today.
Two free things for owners
How this building compares: the Miami Condo Index ranks buildings by price per square foot and four-year change from the county record, the Miami Resale Record shows how often resales closed below the seller’s price, and the 100 Latest Sales list shows MLS closings as they post. Every building we cover is on the Miami Luxury Condos page.
Paraiso Bay — Frequently Asked Questions
What have homes at Paraiso Bay sold for in the last 12 months?
8 sales were recorded on the Miami-Dade County Property Appraiser record in the 12 months to 23 September 2026, at a median of $870,000 ($739 per square foot). The latest recorded sale was on 28 May 2026. These are recorded closings, not asking prices. If you own at Paraiso Bay and want to know what your home would sell for, message Josh Stein on WhatsApp at (305) 695-8257.
How many homes are in Paraiso Bay?
364. The county carries 365 folios under PARAISO BAY CONDO; the extra one is a parcel under an older plat with no building area. There are no commercial units and no separately deeded parking folios.
Are prices at Paraiso Bay rising or falling?
Median price per square foot rose in each of the three complete years — $787 in 2023, $834 in 2024, $860 in 2025, up 9.3%. The 2026 figure of $739 would imply a sharp fall, but it rests on eight sales in an unfinished year and should not be treated as a direction.
What did the original buyers pay?
The developer sold the building in 2018 and 2019: 387 qualified sales across those two years at a median of $712,900. That makes the original cost base for most homes here a matter of public record.
Have owners at Paraiso Bay made money?
Mostly. Of 180 original buyers who have since resold, 135 sold above what they paid and 45 sold below, with a median gain of 15.0%. Among the 26 whose sale falls in 2025 or 2026, none sold at a loss and the median gain was 23.8%.
What is the biggest loss on record here?
Setting aside one December 2021 transaction of $299,400 on a 1,151 square foot home, which does not behave like an open-market sale despite the county’s qualified flag, the worst outcome is a one-bedroom bought at $870,900 in 2018 and resold at $660,000 in February 2022 — down 24.2%.
Does Paraiso Bay have large homes?
Yes: 37 four-bedroom homes against just 27 three-bedrooms, plus one five-bedroom, in a building whose median home is 1,151 square feet. Homes run up to 6,676 square feet.
How often do homes here change hands?
72 qualified sales across 364 homes in four years, roughly one home in twenty per year.
Sources and further reading
Interested in selling at Paraiso Bay?
Learn more about selling your condo at Paraiso Bay with Josh Stein.
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
- One Paraiso
- Onyx on the Bay
- Opera Tower
- Paramount Bay
- Platinum Condo
- Quantum on the Bay
- The Crimson
- The Grand Condos Miami
- Uptown Lofts
Thinking about Paraiso Bay?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comGet this building’s next recorded sale — before the listing sites catch up
- Every closed sale we can verify from the Miami-Dade record — price, date, and $/sqft when the deed supports it — not an IDX feed.
- Optional alert when a new deed posts in this building (or a short list of comps you choose).
- No spam inventory blasts. One building. One record. You decide what happens next.
Tell Josh which building. He’ll send the latest closed sales and set a quiet alert.
Get the sales recordRelated coverage
Part of Miami Luxury Condos.