30 Oct Key Colony No. 1 Key Biscayne Condos: Prices, Inspections & SIRS (2026)

Key Colony No. 1 Key Biscayne Condos: Prices, Inspections & SIRS (2026)

Key Colony No. 1 is a condominium at 201 Crandon Blvd in Key Biscayne, built in 1978, with residences priced $875,000 to $5.1 million. County records list 282 residences.

Key Colony No. 1 at a Glance

Prices and Recent Listings

Asking prices for residences at Key Colony No. 1 as of October 2026 ran from $875,000 to $5.1 million, depending on floor, view, size and renovation.

Inspection Status

Because the building turned 30 before July 1, 2022, its first statewide milestone inspection was due by December 31, 2024. The next one is due about 10 years after that.

Key Biscayne is in Miami-Dade County, where the county building recertification program applies, administered by the Village of Key Biscayne Building, Zoning and Planning Department. Condominium and cooperative buildings three stories or taller within three miles of the coastline need a recertification inspection at 25 years if built in 1998 or later; those built from 1983 to 1997 were due by December 31, 2024; buildings built in 1982 or earlier that have already had an initial recertification keep their established schedule. Inspections then repeat every 10 years, and reports are due within 90 days of the notice. Confirm a building’s schedule and latest report with the Village of Key Biscayne or the association.

Florida requires milestone inspections for condo buildings of three or more stories. Phase 1 is a visual review by a licensed engineer or architect; Phase 2 is required only if Phase 1 finds substantial structural deterioration, and repairs must begin within 365 days of the Phase 2 report. Since January 1, 2026, associations with 25 or more units must post milestone reports, the structural integrity reserve study and the budget on their website.

Reserves, SIRS and Assessments

Since budgets adopted after December 31, 2024, Florida condo associations can no longer waive or reduce reserves for the roof, structure, fireproofing, plumbing, electrical, waterproofing, windows and doors. That has raised monthly dues in many older oceanfront buildings. When comparing residences, review the current budget, the reserve balance and any planned or pending special assessments.

What Buyers Should Ask For

• The milestone inspection summary, if the building has had a milestone inspection (ask for any Phase 2 report too)
• The most recent structural integrity reserve study, or a statement that none has been completed
• The annual budget and financial statement, plus the reserve balance and any special assessments
• Board minutes from the past year, for planned repairs

For a resale, Florida law (section 718.503(2)) entitles the buyer, at the seller’s expense, to the declaration, articles, bylaws and rules, annual financial statement and budget, Q&A sheet, milestone inspection summary (if applicable), the most recent SIRS or a statement that none exists, and any turnover inspection report. Unless the buyer received them more than 7 days before signing, the buyer may cancel within 7 days (excluding weekends and legal holidays) after signing and receiving them, until closing. A buyer purchasing from the developer has 15 days (section 718.503(1)). Board minutes, reserve balances and special-assessment details are not on the statutory list; request them separately. Read our complete guide to Florida condo milestone inspections and SIRS.

Full list: see our Florida condo due diligence checklist, with every document to get before you sign and the Florida statute behind each one.

Frequently Asked Questions

How much does a residence at Key Colony No. 1 cost?

Listed residences at Key Colony No. 1 are priced $875,000 to $5.1 million as of October 2026.

When is the milestone inspection due at Key Colony No. 1?

The statewide deadline for Key Colony No. 1 is December 31, 2024, with another about every 10 years after that. Miami-Dade County’s building recertification program also applies; the table above shows how it counts for this building. Confirm the schedule and the latest report with the association and the Village of Key Biscayne.

Where is Key Colony No. 1?

Key Colony No. 1 is at 201 Crandon Blvd on Crandon Boulevard in the Village of Key Biscayne, Miami-Dade County. Ask about a specific residence’s views and beach access before you buy.

More Key Biscayne Condos

• Every Key Biscayne condo from $1 million
• Key Biscayne, FL guide (2026)
• Ocean Tower One
• Club Tower Two
• Club Tower Three
• Florida condo milestone inspection and SIRS guide (2026)

Last updated October 24, 2026. Building details come from county property records, public listings and government sources and are deemed reliable but not guaranteed. Prices are asking prices or estimates as of the date shown. Not legal, financial or engineering advice. Full disclaimer