Grand Bay Residences Homes for Sale

Grand Bay Residences in Key Biscayne appears in MLS records as Grand Bay Residences Cond. If you have seen both names, they are one community. The neighborhood is an age-restricted 55+, waterfront, luxury, condominium community located in Miami-Dade County, Florida. Active listings run from $2,520,000 to $18,900,000, about $2,058 per square foot, averaging 135 days on market. Homes were built 1996 to 1997. 3 homes are currently for sale. Pure Equity lists homes in Grand Bay Residences and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Grand Bay Residences and the Key Biscayne area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows a single listing for Grand Bay Residences Key Biscayne homes for sale as of October 2026. The median asking price is $3.95M.

That is 49% above the Key Biscayne median of $2.65M. On a per-foot basis, homes here ask about $1,215 per square foot, roughly in line with the city at $1,161. So the median price buys roughly 3,250 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 8 days on the market. That is faster than the Key Biscayne average of 130 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Grand Bay Residences date from 1996, so they are about 30 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Here is what the median Grand Bay Residences price means in Florida closing terms. At $3.95M, a 20% down payment comes to about $790,000, leaving a loan near $3.16M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $11,060. Next, the intangible tax of 0.2% adds about $6,320. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $23,700 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.