Experience luxurious waterfront living at Paraiso Bay, located at 650 NE 32nd St, Miami, FL 33137. Developed by Related Group and completed in 2018, this exclusive condominium offers one to four-bedroom apartments with contemporary designs and breathtaking views of Biscayne Bay. Residents can indulge in resort-style amenities, including a beach club, waterfront pool, and private marina. Situated in the coveted Edgewater neighborhood, Paraiso Bay offers convenient access to fine dining, upscale shopping, and a vibrant arts and culture scene. Immerse yourself in a world of coastal elegance and refined living at Paraiso Bay.
Owners of units at Paraiso Bay may lease their units up to three (3) times in any twelve (12) month period. The minimum lease period for units at Paraiso Bay is thirty (30) days · 12 months minimum
Financing a unit in this building: down payment minimums, how buyers are reviewed, and any special assessment.
Down payment
Primary 3% · Second home 10% · Investment 15%
Lender review
Full review
Right of first refusal
Status unknown — contact HOA to confirm if they hold purchasing rights
SIRS & structural compliance
✓SIRS required for this buildingYes — 55 floors
✓SIRS study completedYes
✓Reserve study reported to the stateYes
Phase 1 milestone inspectionNot verified
40-year recertificationNot verified
Permits
Permits not yet researched for this building.
Reviews & reputation
4.2
out of 5 across 351 Google reviews
Residents on Google are very positive, with high review volume concentrated on staff/service (individual employees named and praised repeatedly) and resort-style amenities (multiple pools, spa, bowling, movie theater). The one recurring critique is about the surrounding area feeling underdeveloped/quiet rather than anything about the building or association itself.
Summaries are synthesized by Allioo from public review signals, not direct quotes from residents.
Market
Median sold price
$870,000
4 units sold · limited data
Median sold $/sqft
$766
May 2026
Median rent
$6,000
As of April 2026
By bedroom count
Unit typeAs ofMedian soldSale $/sqftUnits sold
1 bedApril 2026$750,000$8565
2 bedMay 2026$870,000$7265
3 bedMarch 2026$1,375,000$8353 · limited
4 bedAugust 2025$1,830,000$9783 · limited
5 bed————
Sold figures are from the Miami-Dade Property Appraiser. Each unit type uses the three most recent months with recorded sales. Median rent is from the MLS and may be delayed. Full stats
Frequently asked questions
Owners of units at Paraiso Bay may lease their units up to three (3) times in any twelve (12) month period. The minimum lease period for units at Paraiso Bay is thirty (30) days · 12 months minimum
SIRS is required (3+ stories): Yes. Study completion and state reporting — verify with the HOA before closing.
Review type: ["Full Review"]. Typical primary residence minimum shown: 3%. Actual requirements vary by lender and loan program.
Status unknown — contact HOA to confirm if they hold purchasing rights
Property manager not on file with Allioo. Association direct line: 786-369-5254.
Data on this page is for informational purposes only and may be outdated or inaccurate. Confirm fees, rules, SIRS status, and other details directly with the building association before you buy or lease.
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