About Paramount Bay
Designed by Arquitectonica
Paramount Bay is a 47-story waterfront condominium at 2020 N Bayshore Drive, designed by Arquitectonica. Completed around 2010, it holds roughly 346 residences from one to four bedrooms, and its common areas were designed by Lenny Kravitz’s design team.
It sits on Biscayne Bay in the middle of Edgewater’s tower row, with Downtown, Midtown and Wynwood a short drive away. Sources differ on the completion year (2007 to 2012; the MLS records 2010), so ask the association for exact dates if it matters to your decision.
Building Fees & Assessments
MLS listings for Paramount Bay have shown a median association fee around $1.55/sqft/month -- shown per square foot, not as a flat dollar figure, since that's comparable across unit sizes rather than skewed by whichever units happen to be listed right now. This is a point-in-time reference, not a live figure, and can change over time. Confirm the current fee for a specific unit before making an offer.
Specific reserve fund balances, pending special assessments, and financial statements aren't public MLS data -- request them directly from the condo association or your agent before making an offer.
Rental Potential
See the live "Monthly rental from" figure above for Paramount Bay's current lowest asking rent, and the market snapshot's closed-lease count and median rent for actual rental demand over the trailing 12 months -- both update automatically, unlike a number written here. Specific rental rules -- minimum lease term, rentals allowed per year, and whether short-term/Airbnb-style rentals are permitted -- are set by the condo association and vary by building. Verify current rental restrictions directly with the association before buying as an investment.
Frequently Asked Questions
Is Paramount Bay pet-friendly?
Paramount Bay does not generally allow pets. Verify current pet policy directly with the building association before purchasing.
Can I rent out my unit at Paramount Bay?
Long-term rentals are generally permitted at Paramount Bay, though minimum lease terms and any short-term rental restrictions vary by building. Verify the current rental policy directly with the association before purchasing as an investment.
Where is Paramount Bay?
At 2020 N Bayshore Drive in Edgewater, on the western shore of Biscayne Bay near NE 20th Street.
Who designed Paramount Bay?
Arquitectonica designed the tower, and Lenny Kravitz's design team handled its common areas.
How many residences does Paramount Bay have?
Published figures put it at about 346 residences over 47 floors, in one- to four-bedroom layouts. Ask the association for the current count.
Reviewed by Carlos Olivares, FL License #3051724. Last updated October 2026.
