Paramount Bay, the swanky 47-story bay front tower, recently announced its new residential sales. To sell the tower’s 340 units, with prices beginning at $400,000, Paramount Bay has assembled an expert team of luxury real estate professionals to handle negotiations with potential buyers.

The property’s owners, iStar Residential and ST Residential, as well as the sales and marketing firm, Fortune International, assembled Paramount Bay’s sales team.  Expectations are high that the property’s sales will go well as the 1, 2, 3, 4 and 5-bedroom units, ranging from 1,214 – 4,437 square-feet, were designed by Lenny Kravitz and the staff at Kravitz Design Inc.

“We are thrilled to be launching the new sales at Paramount Bay,” said Edgardo Defortuna, president of Fortune International. “This is one of the most exciting additions to the South Florida landscape and we are extremely confidant it will be very well received by the market. It is the perfect time for this type of product in such a vibrant location.”

Paramount Bay sales initiatives will be led by Sales Director Isabella Holguin, a veteran of the real estate business with nearly a decade of experience in the South Florida market. In addition, the following agents with varying fields of expertise in the South Florida market will be joining the team; Maria Mariana, Casey Koslowski, Annie de la Rosa, Catalina Martucci, Yanet De Castro and Elizabeth Garcia. Though the property is planned to be unveiled in 2012, residential occupancy is available now.

“The market-leading development team on this project continues to progress towards the completion of Paramount Bay over the next few months,” said Senior Vice President of iStar Residential, Anthony Burns. “The work that has come to fruition from Lenny Kravitz and Kravitz Design Inc., Fortune International and our other key partners is truly exceptional. We are now ready to introduce these unique luxury residences to new prospective buyers.”