It depends heavily on the building and how truly waterfront it is. A solid luxury two-bedroom in Edgewater or Brickell runs $5,000 to $10,000 per month. Move into the ultra-luxury category with real bay views and private terraces and the numbers shift significantly. FIVESIXTY Waterfront Residences + Club in Edgewater is currently pre-leasing three and four-bedroom residences from $15,000 to over $25,000 per month. Those are 2,300 to 3,000 square foot floor plans with direct Biscayne Bay views and a private marina included. For waterfront luxury rentals in Miami at that scale, it’s actually competitive with the cost of owning an equivalent unit.