Grand Bay Residences

What is actually inside the building

The Miami-Dade County Property Appraiser holds 138 folios at 445 Grand Bay Drive, of which 137 are residences. The common-element shares close at exactly 100.0000%, so this is the whole condominium and nothing is missing from the figures below.

These are large homes. They run 1,720 to 10,090 square feet, with a median of 3,290 — there is no compact stock at all, and the largest residence is over 10,000 square feet. The mix is 87 three-bedrooms, 39 two-bedrooms, seven five-bedrooms and four four-bedrooms.

Four floorplates carry much of the building: 2,950 square feet (22 homes), 3,480 (22), 3,320 (16) and 1,760 (16).

The 2026 assessed values run $642,430 to $8,365,000, with a median of $2,220,884.

The price record

Qualified, arm’s-length sales from the county record, retrieved 21 August 2026.

Fifteen qualified sales in four years, in 137 homes — about one home in thirty-seven each year, and 2024 produced exactly one sale.

Two records are worth separating, because they are not the same home and not the same year.

The highest price is $11,375,000, on 3 March 2022, for a 7,690 square foot residence — $1,479 per square foot. But the highest price per square foot came later: $1,663, on 28 August 2025, when a 4,810 square foot home sold for $8,000,000. Both are single-folio sales, so both figures are directly supported.

That ordering matters. In most buildings measured on this site the per-foot ceiling was set in 2021 or 2022 and has not been approached since. Here the ceiling is three years newer than the headline price, which says the top of this building has not weakened even though the average has moved around.

Why no one can tell you what this building is worth

The four-year table looks like a rise and then a fall — $1,017 up to $1,230, holding at $1,219, then dropping to $966. It is tempting to read that as the market turning. The floorplate evidence says it is noise.

The 2,950 square foot home is the most-traded plate in the building, with five qualified sales across the period. It went:

$915 per square foot in 2023 — $1,229 in 2025 — $925 in 2026.

Up 34%, then back down 25%, ending within one per cent of where it started three years earlier. That is the same home, in the same building, and it is not a market signal — it is what two or three transactions a year look like when the homes differ by floor, line, view and condition.

The other plates say the same thing in different directions. The 3,480 square foot home went $1,476 in 2023 and $1,006 in 2026. The 3,320 went $1,051 in 2023 and $1,345 in 2025. The 2,570 barely moved, $1,051 to $1,036. Every one of those rests on one or two sales.

So my honest reading is that the county record shows Grand Bay Residences trading somewhere between roughly $920 and $1,230 per square foot since 2023, with no direction I can establish and considerable spread within any given year. A page that gave you a single confident figure for this building would be giving you an artefact of which two or three homes happened to sell.

The one thing that is not noise is the ceiling — $1,663 per square foot in August 2025, on the second-largest sale in the building’s history. The top has held; the middle is unmeasurable.

Who this building suits

It suits a buyer who wants genuine size on Key Biscayne. A 3,290 square foot median with nothing under 1,720, on the water, is a different proposition from most of what carries a Key Biscayne address — and at $920 to $1,230 per square foot it is priced well below the oceanfront Miami Beach and Bal Harbour buildings measured on this site, which traded between roughly $1,500 and $2,500 over the same period.

It suits a buyer who wants a defensible valuation badly. Fifteen sales in four years, a year with a single transaction, and a lead floorplate that moved 34% up and 25% down inside three years — there is no reliable per-foot number to negotiate against here, and anyone who quotes you one is quoting you a handful of deals. Price the specific home: floor, line, view and condition are clearly doing more work in this building than square footage is.

Liquidity is genuinely low at one home in thirty-seven a year. If your horizon is under five years, weigh that seriously.

If you are selling here, the volatility is your risk and your opportunity. The record contains sales at $1,663 and at $925 per square foot within twelve months of each other, so which comparable a buyer anchors on matters more than almost anything else you control. Prepare the case for your own home rather than for the building. Ask me for the comparables on your line before you set a number.

Interested in selling at Grand Bay Residences?

Learn more about selling your condo at Grand Bay Residences with Josh Stein.

I'M READY