Building facts
- Address
- 400 Alton Road
- Neighborhood
- South of Fifth
- Year built
- 2003
- Floors
- 37
- Residences
- 270
- Status
- Completed
- Developer
- Related Group
- Architect
- Sieger Suarez Architects
- Pricing
- Starting at $1.29 Million
Key Takeaways
- This is not the building with the $60 million special assessment — that one is Murano at Portofino, at 1000 South Pointe Drive. Murano Grande’s own assessment was reported at $7.4 million — about $27,400 a unit — for paint, stucco and pool restoration.
- Up 20.7% per square foot over four years — but read the next line — median $/sq ft went from $1,244 in 2023 to $1,501 so far in 2026. Strip out two January 2023 sales and the same calculation gives +10.5%. The direction is real; the magnitude is not settled.
- 265 homes, and unusually varied for a Miami condominium — 1,310 to 6,032 sq ft, and the mix includes 73 three-bedrooms, 19 four-bedrooms and 2 five-bedrooms.
- The record is $13,095,000, set on 20 November 2025 — for a 5,305 sq ft home at $2,468 per sq ft — the highest price and the highest rate the building has recorded.
- Cheaper per foot than its namesake, and moving the other way — Murano at Portofino cleared $1,919 per sq ft in 2026 against $1,501 here — 27.8% dearer — while falling 3.4% over four years as this building rose.
- One home in 29 changes hands each year — 37 qualified sales across four years — thin, and the reason the annual medians here swing on a couple of transactions.
400 Alton Road, Miami Beach, Florida 33139 | Neighborhood: South of Fifth
What is actually in the building
The county returns 267 folios for 400 Alton Road. 265 are homes. The other two are a reference folio and a commercial folio covering a leased parking level of 142 spaces.
The homes run 1,310 sq ft to 6,032 sq ft, with a median of 1,658, and the bedroom mix is unusually broad for a Miami condominium: 7 one-bedrooms, 164 two-bedrooms, 73 three-bedrooms, 19 four-bedrooms and 2 five-bedrooms. Ninety-four homes of three bedrooms or more, and a top end above 6,000 sq ft, is a genuine range — this building holds both ordinary two-bedroom stock and a handful of homes that trade like houses.
For 2026 the county assesses them between $448,564 and $10,110,098, median $1,490,680. That spread — a factor of more than twenty between the smallest and largest assessment — is worth keeping in mind when anyone quotes you a single number for “Murano Grande”.
Which Murano is this? The distinction that costs money
There are two Muranos in South of Fifth and they are routinely confused, including in comparable sets handed to buyers. The difference is not cosmetic.
This building is Murano Grande, at 400 Alton Road. Murano at Portofino is a different building at 1000 South Pointe Drive.
The reason it matters: the widely-cited $60 million special assessment belongs to Murano at Portofino, not to this building. The Real Deal reported that assessment on 19 July 2022 at $66,000 to $322,000 per unit, with a $27.2 million second phase approved on 19 December 2024. In the same July 2022 reporting, Murano Grande’s own assessment was $7.4 million — averaging roughly $27,400 a unit over about two years — for paint, stucco and pool restoration.
Those are different orders of magnitude. Confusing them can move a valuation by six figures per home, in either direction. Both figures come from that publication’s reporting rather than the county record, which does not carry association assessments; the articles are cited below with their dates.
The two buildings also trade differently. In 2026 Murano at Portofino cleared a median $1,919 per square foot against $1,501 here — it is 27.8% dearer — and the county assesses its median home 54.6% higher. Over four years that building is down 3.4% while this one is up. If a comparable is quoted to you for “Murano”, establishing which one it came from is the first question, not a detail.
The price record, and how firm it is
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 9 | $2,350,000 | $1,244 |
| 2024 | 9 | $2,000,000 | $1,143 |
| 2025 | 13 | $2,350,000 | $1,438 |
| 2026 to date | 6 | $2,612,500 | $1,501 |
On the face of it the building is up 20.7% per square foot over four years, and both ends of that comparison clear the five-sale threshold, so the figure is publishable. I am going to publish it and then immediately qualify it, because the qualification is the useful part.
That 20.7% rests heavily on two transactions. In January 2023 two homes of 1,658 and 1,649 sq ft sold at $727 and $728 per square foot — ordinary qualified deeds, but far below everything else that year. Remove just those two and 2023’s median becomes $1,358, which turns the four-year change into +10.5%. Same building, same record, half the headline.
So: the direction is real and the magnitude is not settled. 2023 and 2024 both sat in the $1,100s to $1,200s; 2025 came in at $1,438 on thirteen sales — the largest sample in the four years — and 2026 is running at $1,501 on six. Two independent years above $1,400 after two below $1,250 is more persuasive than any single percentage. I would tell a client this building has moved up meaningfully since 2024 and decline to put a precise number on it.
The dispersion here is genuinely wide, and it is not an error: the four-year band runs $726 to $2,468 per square foot, because a 1,310 sq ft two-bedroom and a 6,032 sq ft five-bedroom are not the same product. In 2023 alone the range was $727 to $1,649. Comparables at this address must be matched on size and floorplan or they are worthless.
The record is $13,095,000, set on 20 November 2025 for a 5,305 sq ft home — $2,468 per square foot, the highest price and the highest rate the building has recorded, and comfortably ahead of the $8,500,000 paid in March 2015.
Liquidity is thin: 37 qualified sales against 265 homes, about one home in 29 per year. That is the underlying reason the annual medians move as much as they do.
Who this building suits, and who it does not
It suits a buyer who wants space on the bay side of South of Fifth without the assessment history of its namesake. Ninety-four homes of three bedrooms or more, a top end above 6,000 sq ft, and a per-foot level 27.8% below Murano at Portofino make it the better-value half of the pair on the current record — and it is the half that has been rising.
It suits badly a buyer who wants a precise, defensible market number today. With 37 sales in four years spread across homes ranging from 1,310 to 6,032 sq ft, this building’s annual medians are genuinely noisy, and anyone quoting you a confident percentage — including the 20.7% at the top of this page — is overstating what the record supports.
It also suits badly anyone assuming no assessment exposure at all. The $7.4 million programme reported in 2022 is far smaller than the other Murano’s, but it is not nothing, and a building of this age on the water will face capital work again.
If you are selling here, do two things. First, correct the record on the assessment before a buyer prices it in — a great many people believe this is the $60 million building, and that belief is worth real money against you. Point them to the July 2022 reporting: $7.4 million here, about $27,400 a unit. Second, insist your comparables match your floorplan. On a record where 2023 alone ranged from $727 to $1,649 per square foot, a mismatched comparable is not a small error — it can be double or half your number.
Verified 18 August 2026 against the Miami-Dade County Property Appraiser record for 400 Alton Rd — all 267 folios retrieved individually, grouped by subdivision and filtered to residential homes, excluding one reference folio and one commercial parking folio, along with parking, cabana and storage. The county records this condominium under two subdivision spellings; both were matched on their common prefix so no folio was missed. Sale figures are qualified, arm’s-length transactions only, with bulk/portfolio transfers collapsed to a single transaction. 2026 is an incomplete year. The special-assessment figures for both Murano buildings are not county data: they are as reported by The Real Deal on 19 July 2022 and 19 December 2024, cited below, and the tax roll does not record association assessments — confirm any figure with the association. Building age, storey count, architect and amenity detail are omitted: no primary source has been confirmed for them. Re-check when the next tax roll publishes.
Murano Grande — Frequently Asked Questions
Is Murano Grande the building with the $60 million special assessment?
No. That is Murano at Portofino, at 1000 South Pointe Drive — reported by The Real Deal on 19 July 2022 at $66,000 to $322,000 per unit, with a $27.2 million second phase approved in December 2024. Murano Grande’s own assessment was reported in the same July 2022 coverage at $7.4 million, roughly $27,400 a unit, for paint, stucco and pool restoration.
How much does a home at Murano Grande sell for?
The 2026 median so far is $2,612,500 at $1,501 per square foot, on six qualified sales. Over four years the band runs from $726 to $2,468 per sq ft — very wide, because homes here range from 1,310 to 6,032 sq ft. Match the floorplan before comparing.
Have prices at Murano Grande gone up?
Yes, though by how much is unsettled. Median $/sq ft went from $1,244 in 2023 to $1,501 so far in 2026 — up 20.7% — but two January 2023 sales at about $727 per sq ft pull that base down. Excluding them the same calculation gives +10.5%. What is solid is that 2025 and 2026 have both run above $1,400 after two years below $1,250.
What is the highest price ever paid at Murano Grande?
$13,095,000, on 20 November 2025, for a 5,305 sq ft home — $2,468 per square foot, which is also the highest rate the building has recorded.
How many units are in Murano Grande?
The county records 265 homes, plus a reference folio and a commercial folio covering a 142-space leased parking level. The mix is 7 one-bedrooms, 164 two-bedrooms, 73 three-bedrooms, 19 four-bedrooms and 2 five-bedrooms.
How does Murano Grande compare with Murano at Portofino?
In 2026 Murano at Portofino cleared a median $1,919 per square foot against $1,501 here, so it is 27.8% dearer, and the county assesses its median home 54.6% higher. Over four years that building is down 3.4% while this one is up. They are separate condominiums with separate assessment histories.
How often do homes here change hands?
The county records 37 qualified sales in the four years to August 2026 against 265 homes — about one home in 29 per year, which is thin and is why the annual medians move on a few transactions.
Sources and further reading
- Miami-Dade County Property Appraiser — Property Search (267 folio records for 400 ALTON RD, retrieved 18 August 2026)miamidade.gov
- The Real Deal — South Beach condo owners face millions in special assessments (19 July 2022)therealdeal.com
- The Real Deal — South Beach condo tower OKs $27M special assessment (19 December 2024)therealdeal.com
Interested in selling at Murano Grande?
Learn more about selling your condo at Murano Grande with Josh Stein.
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