# Mar Azul

As of 2026-10-20, Mar Azul in Key Biscayne has 3 units for sale at a median asking price of $2.22M ($1,001/sqft); 4 units sold in the last 12 months.

Mar Azul is an 11-floor, 131-unit waterfront condominium at 600 Grapetree Dr on Key Biscayne, built in 1974 and located in FEMA flood zone AE.

## Key facts

| | |
|---|---|
| Address | 600 Grapetree Dr |
| Neighborhood | Key Biscayne |
| Year built | 1974 |
| Floors | 11 |
| Units | 131 |
| Waterfront | yes |
| For sale | 3 |
| Pending | 1 |
| Median asking price | $2,220,000 |
| Median asking $/sqft | $1,001/sqft |
| Sold, last 12 months | 4 |
| Median sold $/sqft, 12 months | $910/sqft |
| Months of inventory | 9.0 |
| Median HOA | $2,663/mo |
| Parking | The building offers assigned covered parking, with some units featuring side-by-side spaces and an electric vehicle charging station. |

## Own Miami measures

- **own.miami Building Score: 60 (B)**
  - Value: 20 — $1,001/sqft — vs. Key Biscayne condos, then all of Miami
  - Momentum: 50 — Recent price trend
  - Liquidity: 61 — 9.0 months of supply · 56 days on market
  - Health: 100 — Verified records on file — nothing adverse
  - Waterfront: 90 — Waterfront building
  - Age: 21 — Built 1974 — vs. Key Biscayne buildings
- **Own Miami Condo Index: 140** (above_market; 100 = the market-median building, 200 = twice its $/sqft; rank 170 of 698 tracked Miami condos)
- **Financeability Index: 68** (good; 12-month window, 6 recorded mortgages, 40% of sales bank-financed, lowest down payment 20%, as of 2026-10-31)
- Special-assessment outlook: elevated (next structural milestone inspection due 2029)

## Building health (verified public records)

- Public records checked 2026-10-29: no liens, lawsuits or regulatory complaints found
- positive: Bank financing — Regulated lenders recorded 5 purchase or refinance loans on this building in the last 12 months, financing 40% of its recorded sales, and accepted a down payment as low as 20%. A bank writing a condominium loan has just checked the building's reserves, insurance, litigation and owner-occupancy against its own standards — verified due diligence, read from the public record. Financeability Index 68/100. (2026-10-31)
- Legal & regulatory: 0 material cases active, 0 disputes active, 0 DBPR complaints (36 months) (2026-09-20)

## Frequently asked questions

**How much do condos at Mar Azul cost?**

There are 3 condos for sale at Mar Azul, from $1,890,000, with a median asking price of $2,220,000 ($1,001/sqft).

**How much are the HOA fees at Mar Azul?**

HOA / maintenance fees at Mar Azul run around $2,663 per month among units currently for sale; the exact fee varies by unit size and line, so confirm the current amount with the listing or the condo association.

**Is Mar Azul a waterfront building?**

Yes — Mar Azul is a waterfront building (Key Biscayne).

**When was Mar Azul built?**

Mar Azul was built in 1974, 11 stories, 131 residences.

## Related pages

- [Key Biscayne — neighborhood guide](https://own.miami/key-biscayne)
- [All units for sale at Mar Azul](https://own.miami/buildings/mar-azul/for-sale)
- [Commodore Club South](https://own.miami/buildings/commodore-club-south)
- [Casa Del Mar](https://own.miami/buildings/casa-del-mar)
- [Commodore Club West](https://own.miami/buildings/commodore-club-west)
- [Key Colony Emerald Bay](https://own.miami/buildings/key-colony-emerald-bay)

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Source: Own.Miami — https://own.miami · data as of 2026-10-20
Canonical page: https://own.miami/buildings/mar-azul
License: CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/
Methodology: https://own.miami/methodology · For AI assistants: https://own.miami/for-ai