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Murano Grande

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Neighborhood: South of Fifth

Year Built: 2003

# Units: 270

# Floors: 38

# Parking Levels: 5

ROSS100 Condo Index Ranking +

18

out of 100

COST RATING: +

2.80 out of 5

LIFESTYLE RATING: +

3.67 out of 5

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

Designed by the same architects of the ICON, this building mostly consists of 2, 3 and 4 bedroom units with big views of the bay, city and Miami Beach.

There are a number of flow through units in lines 01, 03 and some in 04, that offer both bay and city views.

In mid-2013, unit PH3601 sold for $5.1 million, or $1,278 per SF, setting a new record for the building.

Considered a direct competitor to its immediate neighbor the ICON, the ICON generally receives a premium over the Murano Grande due to the Philippe Starck style and design.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $1,063

RECENT PRICE/M² $11,442  

MAINTENANCE COST/SQ FT $0.75 – $0.99

2 BEDROOM PRICE RANGE (2014-2015) $1,270,000 – $2,950,000

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UNIT SIZES  1,310 – 3,990 sq. ft (122 – 371 m²)

UNIT TYPES  1, 2, 3 and 4 bedrooms

# OF UNITS  270

# OF FLOORS  38

# OF PARKING LEVELS  5

ARCHITECT  Sieger-Suarez

DEVELOPER  The Related Group

PET POLICY  Pets are allowed, subject to restrictions. 

24-hour concierge, valet & security

Tennis courts

State-of-the-art fitness & health center

Media and multipurpose rooms

Private and semi-private elevator access to each unit

Heated swimming pool with poolside Cafe

Stunning lobby & entrance

Bathroom fixtures by Philippe Starck and European kitchen cabinetry by Dellacasa

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 Grande 25.772986, -80.140171 400 Alton Road, Miami Beach, FL, United States (Directions)

NOW TRENDING IN ROSS100

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