Murano Grande

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

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 $727 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 21.8% 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.

Interested in selling at Murano Grande?

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