Grand Venetian

A premium building on Belle Isle

Belle Isle is the easternmost of the Venetian Islands, reached from the Venetian Causeway and a short walk from Sunset Harbour and Lincoln Road.

Counted against the Miami-Dade County Property Appraiser record on 17 August 2026, The Grand Venetian returns 122 folios, of which 121 are residential, with no commercial units.

The mix is 67 one-bedrooms, 43 two-bedrooms, 10 three-bedrooms and one four-bedroom, with heated area running 850 to 6,422 square feet, median 1,463. That top figure is a single folio covering Units 2502 and 2503 combined; the largest single units are 4,750 square feet, larger than anything in the older Island Avenue buildings, and the $5,885,717 top assessed value belongs to the combined folio.

By median assessed value at $1,164,783, this is materially above the mid-century Island Avenue stock, where medians run from $387,346 to $774,044. Only Belle Towers at $1,381,598 sits higher on the island.

A fall of about 30% in three years

Qualified sales from the county record — arm’s-length only.

Median price per square foot fell from $1,340 to $940, a decline of about 30% in three years. Among buildings in my county pulls with at least four qualified sales in both 2023 and 2026, three fell further. The 12-month figure at the top of the page, $1,025 on five sales, uses a different window.

Both columns move together, which is what makes it credible rather than a mix effect. Median price fell from $1,960,000 to around $1,375,000 while per-foot pricing fell in step. When the size-adjusted and headline figures agree, the underlying market really has repriced.

Volume tells the same story from another angle: 11 qualified sales in 2023 down to four so far in 2026. Falling prices and falling volume together is the pattern that distinguishes a genuine repricing from a change in what happened to sell.

I cannot tell you from the public record why. Rising association costs, insurance, and post-Surfside structural reserve requirements have weighed on Miami condominium values broadly — but they have not produced a 30% fall in the buildings next door, so something more specific is likely at work here. I would read this building’s financials and reserve study carefully before buying or selling.

The building a mile away that went the other way

The most useful comparison is 1000 Venetian Way, further along the same causeway. Over the same period its median per-foot pricing rose from $961 in 2023 to $1,098 in 2025, on six sales and then nine; 2026 to date has one sale, at $1,088.

Two buildings, the same road, minutes apart: one down 30% from 2023 to 2026 to date, one up 14% from 2023 to 2025. That is a strong argument against treating “the Venetian Islands market” as a single thing, and a reason to price building by building rather than by area.

Who this building suits

For a buyer, this is a building worth a close look right now: large floorplates at per-foot pricing that has come back to $940 from $1,340. Whether the decline reflects sentiment or something structural is the open question.

The condition is that you do the work. Read the association’s financials, the reserve study and any special assessment history before you commit. A 30% fall while neighbouring buildings held is a question that deserves an answer.

If you are selling here, pricing to the 2023 record will not work. The last two years are your market, and a buyer with access to the same public data will know it.

Interested in selling at The Grand Venetian?

Learn more about selling your condo at The Grand Venetian with Josh Stein.

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