Paramount Bay

Property type: Condo
Business line: Operating Properties
Location: Miami, FL

Paramount Bay
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Paramount Bay entered iStar’s operating portfolio at the depth of the financial crisis shrouded in controversy, its builder well over budget and the project incomplete. Rather than making conventional changes—new flooring and paneling, an upgraded lobby—we sought to change the conversation entirely. By hiring the interior design company of rock star Lenny Kravitz, we relaunched Paramount Bay with a completely new perception. The repositioned image and the improved quality of the product increased velocity and enabled iStar and its partner to take advantage of the strengthening Miami market.