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Murano at Portofino

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Neighborhood: South of Fifth

Year Built: 2002

# Units: 189

# Floors: 39

# Parking Levels: 3

ROSS100 Condo Index Ranking +

2

out of 100

COST RATING: +

3.38 out of 5

LIFESTYLE RATING: +

4.08 out of 5

Ross’s Comments – What you Need to Know about Murano Portofino

Comprising of three adjoining towers and shaped like a semi-circle, the Murano at Portofino sits on the southwestern most point of South Beach with 600 feet of bay frontage.

Many attributes appeal to the high end Miami condo buyer: privacy, understated luxury, personalized service, flow through units, large outdoor terraces, and some of the most dynamic views in Miami.

Units 01, 02, 03, and 04, each have a private elevator entrance and offer flow through views and terraces on both the bay and city side. Units 05, 06, 07 and 08, in Tower 1, share the same elevator banks and elevator lobbies.

There are 14 townhomes on either the city or marina side of the building. The four townhomes that face the marina are three levels and each has a private rooftop terrace.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $1,422

RECENT PRICE/M² $15,306 

MAINTENANCE COST/SQ FT $0.75 – $0.99

2 BEDROOM PRICE RANGE (2014-2015) $1,740,000 – $3,250,000

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UNIT SIZES  1,008 – 3,365 sq. ft (94 – 313 m²)

UNIT TYPES  1, 2, 3 and 4 bedrooms

# OF UNITS  189

# OF FLOORS  39

# OF PARKING LEVELS  3

ARCHITECT  Sieger-Suarez

DEVELOPER  The Related Group

PET POLICY  Pets are allowed, subject to restrictions. 

24-hour concierge, valet & security

Over 600 feet of Bay frontage on a 4.5 acre site

Private Plaggia beach club with saltwater pool & cafe

Multiple story fitness & health center

Two lighted tennis courts

Beautiful 20 foot porte-cochere entryway leading into the lobby

Tropical landscaping with spectacular saltwater and freshwater pools

SOUTH OF FIFTH

As with many of Miami’s historic neighborhoods, the South of Fifth “SoFi” neighborhood in Miami Beach enjoyed its heydays in the 1950′s. Miami Beach had a reputation as the “American Riviera” with its beaches, hotels, tropical weather, mobsters and star power. However, the area was ethnically divided with SoFi as home to a thriving, mostly Jewish community, while the areas to the north and even some hotels had little tolerance for diversity. A number of hotels had “restricted clientele” rules and some properties transferred with deeds prohibiting “Hebrew blood.”

By the 1970′s, however, SoFi had become a haven for Jewish retirees and the younger generation stopped moving in. As the area declined, the city formed what was known as the “Committee to Keep Greater Miami Beach Young.” In an effort to eliminate most of the structures south of Fifth Street, the city created the South Shore Redevelopment Area in 1973. The city leader’s imagined that the $400-million plan would completely revitalize the area. Unfortunately, it all but guaranteed the area’s decline.

Many theories exist as to why the plan failed so dismally, but clearly it influenced property owners to stop taking care of their existing buildings. As the neighborhood was so cheap, it attracted the poor and crime and drugs became rampant. Unfortunately, things continued to get worse and it was not until the mid 1990′s that interest re-emerged to invest in the SoFi area.

Today the SoFi neighborhood represents the success that major redevelopment can produce. The area is very safe, it boasts a highly ranked elementary school, South Pointe Park, many successful businesses, restaurants, hotels, nightclubs and some of the most expensive real estate in Miami. Every weekend the beach is packed with locals and tourists. There are several iconic luxury condo projects in the SoFi area, including the Apogee, Murano Grande, Icon, Continuum North and South, Portofino Tower, Murano at Portofino, in addition to several currently under construction.

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Murano Portofino 25.768705, -80.137656 1000 South Pointe Drive, Miami Beach, FL, United States (Directions)

NOW TRENDING IN ROSS100

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