501 First Residences Condos for Sale
28 units available · From $414,500 · Downtown Miami Condos & Homes
About this building
501 First Residences
Updated June 2026501 First Residences is a 40-story tower with more than 440 residences in Downtown Miami, delivered in 2026 by Aria Development Group. Its headline feature is a flexible short-term-rental policy, with listing sources citing leases as short as one day, so owners can run units on Airbnb and similar platforms. Floor plans run from studios to two bedrooms.
It delivered in 2026 and runs 40 stories with more than 440 residences. The whole building was designed around flexibility for investors: listing sources cite a short-term-rental policy with leases as short as one day, so a unit can run as a nightly rental rather than a standard annual lease. The floor plans are compact, mostly studios and one-bedrooms, which is exactly what the nightly-rental market wants.
501 First Residences at a Glance
- 75-foot resort-style lap pool
- Rooftop amenity deck with 360-degree views
- Rooftop movie theater
- Coworking spaces
- Fitness center with yoga and private training rooms
- Chef’s kitchen and media room
- Pet spa and pet lounge
- 24/7 valet and porte-cochère
Live Market Snapshot
501 First Residences Market
Active Units
28
Asking Range
$414,500 – $1,050,000
Median Asking
$594,950
Median $/Sq Ft
$1,074
Median Maint./Mo
$801
Tap a bar to see how many active units fall in each price band.
Live from SEFMLS (miamire dataset), as of June 14, 2026. Active listings only; figures update automatically.
Live MLS Listings
Active Listings at 501 First Residences
Showing 28 active units at 501 First Residences
$414,500
121 NE 5th St # 912B, Miami FL 33132
Listing by Lifestyle International Realty
$439,000
121 NE 5th Street # 401B, Miami FL 33132
Listing by Optimar International Realty
$445,000
121 NE 5th St # 1809, Miami FL 33132
Listing by Miami Residential Group
$449,000
121 NE 5th Street # 807, Miami FL 33132
Listing by Optimar International Realty
$475,000
121 NE 5th # 501B, Miami FL 33132
Listing by Core Realty Associates, Inc.
$475,000
121 NE 5th ST # 912A, Miami FL 33132
Listing by Core Realty Associates, Inc.
$475,000
121 NE 5th Street # 1001B, Miami FL 33132
Listing by Optimar International Realty
$479,000
121 NE 5th st # 2304, Miami FL 33132
Listing by Redilco Int'l Real Estate, LLC
$489,000
121 NE 5th Street # 1404, Miami FL 33132
Listing by Exclusive Living R.E. LLC
$495,000
121 NE 5th st # 3400, Miami FL 33132
Listing by The Keyes Company
$520,000
121 NE 5th St # 1012A, Miami FL 33132
Listing by Affinity International Realty
$550,000
121 NE 5th St # 510, Miami FL 33132
Listing by United Realty Group Inc
$569,000
121 NE 5th # 306, Miami FL 33132
Listing by La Fabrika Realty Group
$594,900
121 NE 5th St # 2411, Miami FL 33132
Listing by Rutois International Realty LLC
$595,000
121 NE 5th St # 1608, Miami FL 33143
Listing by Compass Florida, LLC
$595,000
121 NE 5th Street # 1913, Miami FL 33132
Listing by One Sotheby's International Realty
$595,000
121 NE 5th St # 2211, Miami FL 33132
Listing by Potential Property Group
$599,000
121 NE 5th St # 711, Miami FL 33132
Listing by Realty One Group Estates
$599,800
121 NE 5th St # 3005, Miami FL 33130
Listing by Compass Florida, LLC
$599,900
121 NE 5th St # 2611, Miami FL 33132
Listing by Affinity International Realty
$605,000
121 NE 5th Steet # 3313, Miami FL 33132
Listing by The Keyes Company
$625,000
121 NE 5th St # 2102, Miami FL 33132
Listing by Florida Capital Realty
$665,000
121 NE 5th Street # 1506, Miami FL 33132
Listing by Complete Realty Group
$690,000
121 NE 5th St # 2705, Miami FL 33132
Listing by Fortune Christie's International Real Estate
$970,000
121 NE 5th St # 3401, Miami FL 33132
Listing by Florida Capital Realty
$978,000
121 NE 5th St # 1712, Miami FL 33132
Listing by Realty One Group Estates
$995,000
121 NE 5th ST # 2101, Miami FL 33132
Listing by FL Prime LLC
$1,050,000
121 NE 5th St # 2401, Miami FL 33132
Listing by BHHS EWM Realty
Location
Where 501 First Residences Sits
501 First Residences · 501 NE 1st Ave, Miami, FL 33132
Neighborhood
What's Near 501 First Residences
Walkability data via Google Places.
Schools
Schools Near 501 First Residences
Assigned public schools pulled from Miami-Dade County Public Schools’s official attendance-boundary data. Verify current boundaries with MDCPS before buying — zones can change year to year.
School data source: Miami-Dade County Open Data Hub
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Condo Buildings Near 501 First Residences
Key takeaways
- 501 First Residences is a 2026, 40-story tower at 501 NE 1st Avenue in Downtown Miami, with more than 440 residences.
- It is short-term-rental friendly, with listing sources citing leases as short as one day, so owners can run units on Airbnb and similar platforms (confirm the current policy with the association).
- There are 28 active units for sale at 501 First Residences, priced $414,500 – $1,050,000 (SEFMLS, live), so there is real, current inventory to compare against.
- Floor plans are compact and flexible, mostly studios and one-bedrooms, which suits the nightly-rental investor it was built for.
What it's actually like to own here
This is not a quiet residential tower, and it was never meant to be one. 501 First was designed for owners who want a Downtown unit that pays for itself, so the building runs more like a hospitality operation than a sleepy condo. The amenity stack lives mostly on the roof: a 75-foot lap pool, a deck with 360-degree views, a movie theater, coworking space, and a fitness center with yoga and private training rooms. There is even a pet spa and pet lounge, so the pet-friendly policy is built into the bones of the place.
501 First was built for owners who want a Downtown unit that pays for itself.
Floor plans and what units cost
The residences are compact and flexible by design, weighted toward studios and one-bedrooms with a handful of two-bedrooms. That mix is deliberate: smaller units rent by the night more easily and carry lower entry prices. As of the latest MLS pull there are 28 active units asking $414,500 – $1,050,000. The middle of that sat near $594,950, or about $1,074 a square foot (SEFMLS, live).
Monthly maintenance runs around $801 at the median across active units. On a short-term-rental unit that fee is a cost of doing business, so weigh it against the nightly income you expect rather than against a long-term lease. Always confirm the exact figure and what it covers for the specific unit.
The unit mix leans to studios and one-bedrooms, which is what the nightly-rental market wants.
The Downtown Miami location
The address is 501 NE 1st Avenue, in the heart of Downtown Miami. Miami Worldcenter, Bayside Marketplace, the Kaseya Center, and the Brightline station are all within a short radius, which is part of why short-term demand holds up here. The map, walk-time list, and nearby-buildings sections above show exactly what is within reach on foot and by car.
501 First sits in the center of Downtown, walking distance to Worldcenter and Brightline.
Buying and owning at 501 First Residences
Because 501 First was built for investors, the math is different here than at a typical condo. The flexible short-term-rental policy, with leases as short as one day per listing sources, means a unit can earn nightly income instead of a standard annual lease, which changes how buyers underwrite the purchase. There are currently 28 active units on the market (SEFMLS, live), so there is real, current inventory to price against.
Before you commit, confirm three things in writing: the HOA dues and what they include, the current short-term-rental rules and any building management program, and how the association handles guest access and amenities. Rental policies can change, and on an investment unit that policy is the whole thesis, so get it in writing before you close.
A brand-new 2026 tower built for short-term rental income in the center of Downtown Miami.
Active listing counts, prices, and price per square foot are pulled live from SEFMLS (miamire dataset) and update automatically at page load. Building details were last reviewed June 2026. Figures move with the market; the live listings above are the authoritative current set.
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