Murano Grande at Portofino

Murano Grande at Portofino is the glass tower that anchors the bayfront edge of South of Fifth, the most exclusive enclave of South Beach. Three stepped volumes by Sieger Suarez —of 25, 31 and 38 stories— over Biscayne Bay and the Miami Beach Marina, with 265 curved-terrace residences delivered by The Related Group in 2003. It is a finished asset, with a resale market of its own.

The tower rose in 2003 on the bayfront of South of Fifth, with two- to four-bedroom residences ranging from 1,400 to nearly 4,000 square feet, floor-to-ceiling glass and the curved terraces that are the signature of Sieger Suarez. The lobby carries a David Rockwell design, and the amenities —a two-story spa and gym, a bayfront pool, three lighted tennis courts and marina access— place it among the full-service addresses of the area.

For today's buyer what matters is not the original brochure but the secondary market: which units owners are reselling, at what price per square foot, and what each line offers for rent. This page orders that —live inventory for sale and for rent, how to read value, and the buying process— so you reach the offer with judgment.

What makes the building different

Murano Grande's value is not just the address: it is combining bayfront, marina and the low density of South of Fifth. Among what defines the experience:

• Bayfront and marina on Biscayne Bay, beside the Miami Beach Marina, with sunsets over the downtown skyline that oceanfront towers do not get.
• Sieger Suarez architecture three stepped glass towers with curved terraces and floor-to-ceiling windows; a David Rockwell lobby and generous floor plates from 1,400 to 4,000 square feet.
• South of Fifth the low-density enclave south of Fifth Street, steps from South Pointe Park, Joe's Stone Crab, Smith & Wollensky and Prime 112, walkable and quiet.
• Full service a two-story spa and gym, a bayfront pool, three lighted tennis courts, valet and concierge that sustain value and make a unit easy to rent.

How the value reads: view, floor and line

In a one-of-a-kind building, two units of the same size can be worth very different amounts. Three variables explain almost the entire price difference:

The view

At Murano Grande, exposure rules. West lines face Biscayne Bay, the marina and the sunset over the Miami skyline —the building's premium—; east lines reach the ocean and South Pointe Park. Before comparing prices, you have to compare which way the unit faces.

The floor

Price per square foot rises with height: more light, less obstruction and, on the high floors, the best view. The value jump between the mid-rise and the upper floors is usually larger than the square footage suggests.

The line

Each line —the stack of units sharing a position on the floor plate— has its own terrace and exposure. Knowing which line you're looking at, and its resale equivalent, is the difference between paying market and overpaying. This is where an advisor who knows the building adds real value.

The resale thesis

Buying in resale, rather than preconstruction, changes the risk profile. Construction and delivery risk disappear: the building is built, it has operated since 2003 and the unit is physical. In exchange, you compete for scarcer inventory —South of Fifth is a small enclave— and the price already carries the finished-product and location premium.

The right question is not whether Murano Grande is good —it is— but whether the specific unit is well bought: price per square foot against the building's recent sales, exposure and line, and the margin against what that unit would ask in rent. For the investor dollarizing into waterfront in the most exclusive neighborhood of South Beach, a well-chosen unit combines scarcity, bay and marina that are hard to replicate.

Murano Grande is one piece of the South of Fifth bayfront; to see how the Miami Beach market moves and compare it against other towers in the area, browse all residential inventory for sale on the hub.