Blue Condominium

What’s Actually Inside Blue Condominium

I’ve measured Blue Condominium off the Miami-Dade County Property Appraiser record for 601 NE 36 ST, and the county’s numbers are more specific than any marketing copy. The record carries 332 folios under the BLUE CONDO declaration. Of those, 328 are residential dwellings, three are ground-floor commercial units (recorded as STORE : CONDOMINIUM – COMMERCIAL), and one is a reference folio the county uses for administrative purposes only. Every figure below is built from the 328 homes.

The bed mix leans hard toward two-bedroom layouts: 242 of the 328 homes, or 73.8%, are two-bedroom units. One-bedrooms account for 84 homes, 25.6%. There is exactly one three-bedroom home and one four-bedroom home in the entire building — 0.3% each, genuine outliers rather than a real second product line.

Sizes run from 761 sq ft to 2,841 sq ft, with a median of 1,158 sq ft. This is not a building of endless custom floorplates: 105 homes — one in three — share that exact 1,158 sq ft layout. Add the next three most common sizes, 1,174 sq ft (54 homes), 761 sq ft (52) and 773 sq ft (28), and more than three-quarters of the building sits on just four floorplates.

The county’s 2026 assessed values for the 328 homes run from $145,154 to $1,726,601, with a median of $462,875. That is an assessed figure, not a market one — Florida assessments lag sale prices, especially on units that haven’t changed hands recently — but it’s the only building-wide value the county publishes for every home at once, and it’s a useful floor to know before you look at what has actually traded.

The Price Record, Four Years Running

Fifty-three qualified, arm’s-length sales closed at Blue Condominium across these four years — comfortably above the roughly ten-sale floor I want before drawing any conclusion from a building’s record. That’s enough to say something real about 2023 through 2025. 2026 is a different matter: it is an incomplete year, and its median rests on three sales — not enough on its own to trust as a standalone data point, only as a partial read of where the year is trending.

Here’s the divergence I always check for before trusting a headline number: median sale price fell 6.4% from 2023 ($636,000) to 2026 ($595,000), a moderate decline. Median price per square foot fell more than twice as fast — 12.7%, from $580 to $507. Price and $/sf disagree here because they aren’t measuring the same thing: which specific units happened to trade changed year to year, and with a size range this wide, $/sf is the more honest number. My honest reading is that the record supports real, mild softening in per-foot value since 2023, but I wouldn’t put a number tighter than “roughly 10 to 15 percent” on it given how thin the 2026 sample is. The direction is probably real; the magnitude is uncertain.

Turnover across the four-year window works out to about one home in 25 selling each year — 328 homes against an average of 13.25 qualified sales annually. That’s the Miami Condo Index’s standard four-year basis, applied the same way across every building on this site, even though I suspect a true year-over-year rate would read a little higher once 2026 finishes closing.

Is Blue Condominium a Building Where Owners Make Money?

The county record lets me answer a sharper question than whether this building is appreciating: of the owners who have both bought and sold a home here, who actually came out ahead? Two hundred seventy-one of the building’s 328 homes have a complete round trip on record — a qualified purchase followed by a qualified sale, both legs checked against the county’s own qualified-sale flag, with portfolio transfers excluded from the count. Of those 271 completed round trips, 121 (44.6%) sold for more than their owner paid and 150 (55.4%) sold for less. The median change is -3.9%, over a median holding period of 12.7 years, across a very wide range: -75.8% to +292.9%.

That headline number needs the caveat I owe every reader: direction and magnitude are two different claims, and I’d rather set out the limit of this data than let a single percentage stand in for the whole story. The steepest losses cluster in deeds from 2010 and 2011 — the crash-era resale wave that hit most Miami condo buildings that bought pre-2008 and sold into the trough. I’m not going to guess at why any individual owner sold when they did; the county record shows the transaction, not the reason. What it does show, plainly: a home that bought for $538,000 in January 2006 sold for $130,000 in September 2011, a -75.8% round trip, and a home that bought for $532,000 in November 2005 sold for $200,000 in December 2011, -62.4%. Both are on the record, dated, and real.

The other half of the story is the building’s most recent large sale. On 2/29/2024, a 2,841 sq ft home — Blue Condominium’s largest floorplate — sold for $2,300,000, or $810 a square foot, the top of the building’s current four-year band. That same home last sold for $1,025,000 in March 2006: an 18-year hold that gained 124.4%. I checked this sale against the county’s multi-parcel and portfolio filters before using it here, since those have inflated or hidden other buildings’ “record” sales on this site — it’s a genuine single-folio, single-buyer transaction, and no larger co-conveyed sale sits anywhere in this building’s four-year window.

Who Blue Condominium Suits — and Who It Doesn’t

Blue Condominium suits a buyer who wants an Edgewater, bay-adjacent address without paying new-construction prices: the building’s $580 median $/sf sits well under what new towers nearby are asking, and 73.8% of the inventory is a genuinely usable two-bedroom layout rather than a studio or a one-bedroom-plus-den compromise. It also suits someone who values liquidity — about one home in 25 sells here every year, so there’s usually a recent, live comparable to price against.

It suits a long-term holder badly if that holder is leaning on the building’s full 18-to-20-year history as a guide to what happens next: more than half of the completed round trips on record lost money, and while that’s a crash-era artifact more than a recent-market one, it’s on the record and a buyer’s agent will find it. It also doesn’t suit anyone who needs a genuinely large layout — outside the single three-bedroom and single four-bedroom home in the entire building, everything here tops out at 2,841 sq ft.

If you’re selling in Blue Condominium: price off the last two to three years of comparable sales in your specific floorplate, not off the building’s full-history average. The 2023-2025 sales cluster in a real, coherent $580-$646 per-square-foot band; the crash-era losses that drag down the building’s all-time round-trip record are more than a decade old and are not what a buyer today is actually comparing your listing against.

Interested in selling in Blue Condominium?

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Edgewater Condo & Loft Buildings

Edgewater runs along Biscayne Bay between the Venetian Causeway and the Julia Tuttle. Every building below is covered in this series, with its own county sales record:

• 1800 Biscayne Plaza
• 1800 Club
• Aria on the Bay
• Bay House
• Biscayne Beach
• Cite on the Bay
• City 24
• Edgewater Lofts
• Elysee Miami
• Gallery Art Condominium
• Gran Paraiso
• Icon Bay
• Moon Bay
• New Wave
• One Paraiso
• Onyx on the Bay
• Opera Tower
• Paraiso Bay
• Paramount Bay
• Platinum Condo
• Quantum on the Bay
• The Crimson
• The Grand Condos Miami
• Uptown Lofts