Paradigm 01 announces record-setting transformation of Habitat Residences Brickell; increasing cash flow and achieving occupancy of 100%

30/07/2019 05:00

MIAMI, July 30, 2019 /PRNewswire/ -- Paradigm 01 and Habitat Residences Brickell today announced their successful repositioning of the two-tower, 77-unit property at 1700 & 1701 SW 2nd Ave, Miami, Florida to a Serviced-Residences concept. This new alternative to traditional hotels helps boost the owner's rental income without increasing operational expenses, thus achieving a higher return on investment. Serviced-Residences are also known as short-term rentals, or vacation rentals. This is the largest Serviced Residences property in Miami-Dade County, measured by the total number of units being operated.

Habitat Residences Condo was advised on the transaction and repositioning by Paradigm 01.

"Many multi-family building owners are failing to capture the true value in their real estate assets," says Brian Ehrlich, co-founder of Paradigm. "By repositioning under-performing properties into serviced apartments, we help property owners uncover and capitalize on the emerging opportunities in the short-term rental market in order to maximize their return." Especially in today's market where owners looking to sell are not getting the prices they are seeking, partnering with Serviced Residences operators is a way to revive their properties and increase cash flow from their assets.

"The location, zoning, and quality of this asset made it a perfect candidate for repositioning it to serviced residences," says Ben Hoffman, co-founder and partner of Paradigm 01. "This type of product is rare in Miami, due to the regulations surrounding transient use; we have the experience and knowledge to be able to successfully guide owners through the process of conversion. We are fortunate to work with a visionary ownership team, Maria Laura Elias and Maria Beatriz Elias, on this project to unlock the full potential of their investment."

PARADIGM 01 was born out of a common passion to create progressive spaces within the real estate world. We are a real estate advisory group focused on providing clients with innovative real estate solutions.

Markets are always in a state of change, and the rate of change is increasing. We're leading the charge to use spaces in creative new ways, monetizing buildings and unlocking value.

Success in real estate today is in the non-traditional and in adapting to quickly changing markets without missing a step.

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