Building facts
- Address
- 601 NE 23 Street
- Neighborhood
- Edgewater
- Year built
- 2012
- Floors
- 18
- Residences
- 96
- Status
- Completed
- Developer
- Melo Group
- Pricing
- Starting at $670,000
Key Takeaways
- 96 residences only at 601 NE 23rd Street, plus two commercial folios — one of the smallest buildings in Edgewater.
- Three-bedrooms are the largest group — 41 of the 96, against 29 two-bedrooms and 26 one-bedrooms. There are no studios.
- Median floorplate is 1,146 square feet, running from 663 to 1,876.
- Price per square foot has fallen 21% across four years — $498, $480, $432, $393.
- Median price moved the opposite way, ending at $565,000 in 2026 — which means the homes trading have been getting larger, not more valuable.
- Volume is extremely thin — five, five, three and two qualified sales across 2023–2026.
601 NE 23rd Street, Miami, Florida | Neighborhood: Edgewater
A 96-home building in a neighbourhood of towers
Counted against the Miami-Dade County Property Appraiser record on 17 August 2026, 23 Biscayne Bay returns 99 folios — 96 residential and two commercial.
The composition leans large for Edgewater. 41 three-bedrooms, 29 two-bedrooms and 26 one-bedrooms, with no studios at all, and heated area from 663 to 1,876 square feet with a median of 1,146.
Together with Bay House a few streets away, this is one of the few places in the immediate area holding meaningful three-bedroom inventory — most of the surrounding towers are built for investors and single occupants.
Falling per-foot values behind a rising median
Qualified sales from the county record — arm’s-length only.
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 5 | $475,000 | $498 |
| 2024 | 5 | $555,000 | $480 |
| 2025 | 3 | $485,000 | $432 |
| 2026 to date | 2 | $565,000 | $393 |
This is the pattern most likely to mislead a seller, so it is worth spelling out. The median price is up — $475,000 in 2023 to $565,000 in 2026. The value of a square foot is down 21% over exactly the same period.
Both are true because they measure different things. The homes that happened to trade in 2026 were larger ones. A bigger home at a lower rate still produces a bigger headline number — and if you price your one-bedroom off that $565,000 median, you will be badly wrong.
Use the per-foot column. On that measure this building has softened steadily every year with no recovery.
Reading a building that barely trades
Five, five, three, two. That is the entire four-year transaction history of this building — fifteen qualified sales across 96 homes.
At that volume, every figure above carries real uncertainty, and the 2026 row is two sales in an incomplete year. What gives the per-foot trend its credibility is not any single year but its consistency: $498, $480, $432, $393, declining in every period without exception. A noisy sample that moves in one direction four times running is telling you something.
Who this building suits
This suits a buyer who wants a three-bedroom in Edgewater in a small building rather than a tower, and who plans to stay. The product is scarce and the association is small.
It suits anyone who may need to sell quickly very poorly indeed. Two to five sales a year in a 96-home building means an exit is a project, not a transaction.
If you are selling here, price against the per-foot record and be realistic. If you are buying, the steady four-year decline and the near-absence of competing buyers are both firmly in your favour.
Verified 17 August 2026 against the Miami-Dade County Property Appraiser record for 601 NE 23rd Street — all 99 folios retrieved individually, then filtered to dwelling-sized residential units before any figure here was calculated. Sale samples are very small and are described as such throughout. Building age and storey count are omitted: published sources conflict and none has been confirmed. Re-check when the next tax roll publishes.
23 Biscayne Bay — Frequently Asked Questions
How many units are in 23 Biscayne Bay?
The Miami-Dade County Property Appraiser records 99 folios at 601 NE 23rd Street: 96 residential condominium units and two commercial folios.
What size are the residences at 23 Biscayne Bay?
Heated area runs from 663 to 1,876 square feet with a median of 1,146. The mix is 41 three-bedrooms, 29 two-bedrooms and 26 one-bedrooms, with no studios.
What do condos at 23 Biscayne Bay sell for?
Qualified county sales show a median of $565,000 so far in 2026, but at $393 per square foot — down from $498 in 2023. The rising median reflects larger homes trading, not rising values, and rests on only two sales this year.
Have values fallen at 23 Biscayne Bay?
Yes. Price per square foot has fallen in every year on record — $498, $480, $432 and $393 — a decline of about 21%. The median sale price rose over the same period only because the homes that traded were larger.
Why does this building trade so rarely?
It has only 96 homes, and qualified sales have run at five, five, three and two across the last four years — fifteen transactions in total. Small buildings simply produce less inventory.
Is 23 Biscayne Bay a good investment?
It holds scarce three-bedroom inventory in a small Edgewater association, which is a genuine advantage for an owner-occupier. As an investment it is harder: per-foot values have declined four years running and the building trades too rarely to assume a quick exit.
Sources and further reading
Interested in selling in 23 Biscayne Bay?
Learn more about selling your condo in 23 Biscayne Bay with Josh Stein.
Related coverage
Part of Miami Luxury Condos.