How much does a condo at The Elser cost?

Active asking prices currently run $509,900 – $1,999,000, with the median around $812,500, or roughly $1,446 per square foot (SEFMLS, live) at The Elser. Pricing moves with the market, so treat these as a live snapshot and check the listings on this page for current numbers.

Can you Airbnb or short-term rent a unit at The Elser?

Yes. The Elser is a Downtown Miami bayfront condo-hotel approved for short-term and daily rentals, so owners can rent by the night themselves or run the unit through the building’s in-house hotel rental program. Confirm the current program terms and any platform rules before buying if rental income is your goal.

Are units at The Elser furnished?

Yes. The Elser delivers its residences fully furnished and turnkey, which is part of what makes them ready to rent nightly from day one.

What amenities come with The Elser?

The Elser offers hotel-grade amenities: a resort-style rooftop pool with Biscayne Bay and skyline views, a rooftop hot tub, lawn deck and yoga deck, a multi-level fitness center, complimentary Beach Club access on South Beach, and on-site dining at the ViceVersa Italian restaurant, the Bayview Terrace rooftop bar, and The Lobby Market.

When was The Elser built and how tall is it?

The Elser Hotel & Residences was completed in 2022 and rises 49 stories, holding 646 residences, at 398 NE 5th Street in Downtown Miami.

How many condos are for sale at The Elser right now?

There are currently 54 active units for sale at The Elser, priced $509,900 – $1,999,000 with a median near $812,500 (SEFMLS, live). Inventory turns over, so the live listings on this page are the current set.

Where is The Elser located?

The Elser is at 398 NE 5th Street on Biscayne Bay in Downtown Miami, within walking distance of Bayfront Park, the Brightline MiamiCentral station, the Adrienne Arsht Center, and Bayside Marketplace, with Brickell a few minutes south.

Is The Elser a good investment property?

It is built for it. Approved for short-term and daily rentals, with furnished turnkey units and an in-house hotel program, The Elser is designed to generate nightly-rental income. Whether it pencils out depends on the unit price, the program’s revenue split, and the HOA dues, so review those numbers carefully before buying.

Midtown Miami · Blue Mar Real Estate Group

The Elser Condos for Sale

54 units available · From $509,900 · Midtown Miami

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About this building

The Elser

Updated June 2026

The Elser Hotel & Residences is a 49-story bayfront condo-hotel at 398 NE 5th Street in Downtown Miami, completed in 2022. Its 646 fully furnished residences are approved for short-term and daily rentals, so owners can rent by the night themselves or run their unit through the building's in-house hotel program.

The Elser Hotel & Residences was completed in 2022 as a 49-story bayfront tower in Downtown Miami, developed by PMG and Greybrook with architecture by Sieger Suarez. Its draw is flexibility: all 646 residences are delivered fully furnished and turnkey and are approved for short-term and daily rentals, so owners can rent by the night themselves or hand the unit to the building's in-house hotel program. It is built to generate income as much as to live in.

The Elser at a Glance

Year Built2022

Stories49

Amenities

Short-term-rental friendly — approved for nightly and daily stays
Fully furnished, turnkey residences with full kitchens and washer/dryer
In-house hotel rental program
Resort-style rooftop pool with Biscayne Bay and skyline views
Rooftop hot tub, lawn deck, and yoga deck
Multi-level fitness center
Complimentary Beach Club access on South Beach
ViceVersa Italian restaurant and the Bayview Terrace rooftop bar on site
The Lobby Market for grab-and-go bites

PetsPet policy is set by the association; confirm current size and breed rules before you offer

Live Market Snapshot

The Elser Market

Active Units

Asking Range

$509,900 – $1,999,000

Median Asking

$812,500

Median $/Sq Ft

$1,446

Median Maint./Mo

$679

$510K–$808K$808K–$1106K$1106K–$1403K$1403K–$1701K$1701K–$1999K

Tap a bar to see how many active units fall in each price band.

Live from SEFMLS (miamire dataset), as of June 8, 2026. Active listings only; figures update automatically.

Location

Where The Elser Sits

Loading map…

The Elser · 398 NE 5th St, Miami, FL 33132

Neighborhood

What's Near The Elser

Dining

Bayview Terrace1 min walk

ViceVersa Miami1 min walk

The Empanada's Downtown Miami1 min walk

Inari Sushi Fusion Downtown1 min walk

Cafés

Corner Coffee1 min walk

The Empanada's Downtown Miami1 min walk

Breezeblock Coffee2 min walk

McDonald's2 min walk

Groceries

305 Market5 min walk

Filtrip Filipino-Asian Store5 min walk

Stop n Shop5 min walk

Flow Grocer Downtown Miami6 min walk

Parks & Recreation

Parque Orlando florida2 min walk

Biscuit’s Dog Park4 min walk

Dog Spot Downtown5 min walk

Parque Bicentenario5 min walk

Transit

Biscayne Blvd & NE 5 St1 min walk

Biscayne Blvd & NE 6 St1 min walk

Holiday Inn Port Of Miami-Downtown1 min walk

NE 2 Av & NE 5 St2 min walk

Fitness

Wolfson Fitness And Wellness Center2 min walk

Orangetheory Fitness4 min walk

Freedom Fitness5 min walk

Club Studio6 min walk

Walkability data via Google Places.

Schools

Schools Near The Elser

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.

Assigned Public Schools

Elementary

Douglass, Frederick Elementary

Grades K-5

314 NW 12 St., Miami 33136

305-371-4687

Middle

Jose de Diego MS

Grades 6-8

3100 NW 5 Ave., Miami 33127

305-573-7229

High

Washington, Booker T. Senior High

Grades 9-12

1200 NW 6th Ave., Miami 33136

305-324-8900

Private Schools Within 5 Miles

KLA Schools of Brickell0.8 mi

600 SW 1st Ave, Miami

KLA Elementary0.9 mi

625 SW 1st Ave, Miami

Brickell Heights Elementary1.0 mi

25 SW 9th St, Miami

Lincoln-Marti Schools - 8th Ave1.2 mi

221 NW 8th Ave, Miami

Lincoln-Marti Schools - 01-9531.4 mi

953 SW 1st St, Miami

Lincoln-Marti Community Agency 801.5 mi

880 SW 8th St, Miami

La Prima Casa Montessori - Brickell Campus1.6 mi

1770 Brickell Ave, Miami

Cherry Blossom Learning Center II1.7 mi

2731 NE 2nd Ave, Miami

School data source: Miami-Dade County Open Data Hub

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Aston Martin Residences

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Sls Lux

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The Standard Residences

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Key takeaways

The Elser Hotel & Residences is a 2022, 49-story bayfront tower at 398 NE 5th Street in Downtown Miami, developed by PMG and Greybrook.
Its 646 residences are delivered fully furnished and turnkey and are approved for short-term and daily rentals, so owners can rent by the night themselves or use the in-house hotel program.
There are 54 active units for sale at The Elser, priced $509,900 – $1,999,000 (SEFMLS, live), so there is real, current inventory to compare against.
Amenities run hotel-grade: a resort-style rooftop pool, a multi-level fitness center, on-site dining, and complimentary Beach Club access on South Beach.

What it's actually like to live here

The Elser is a condo-hotel, so it lives like a resort. Residences come fully furnished and turnkey with full kitchens and in-unit washer/dryers, and the amenities are hotel-grade: a resort-style rooftop pool with Biscayne Bay and skyline views, a rooftop hot tub, a lawn deck and a yoga deck, plus a multi-level fitness center. On the social side there is the ViceVersa Italian restaurant, the Bayview Terrace rooftop bar, and The Lobby Market for grab-and-go, along with complimentary Beach Club access on South Beach.

The defining feature is flexibility. The Elser was built as a Downtown Miami bayfront tower approved for short-term and daily rentals, so an owner can live in the unit, rent it by the night themselves, or hand it to the in-house management program and treat it as passive income. That makes it as much an investment vehicle as a home. Pet rules are set by the association, so confirm the current size and breed limits before you offer.

The Elser is a turnkey condo-hotel approved for short-term and daily rentals, built to live in or to rent by the night.

Floor plans and what units cost

The Elser runs from studios up through larger multi-bedroom layouts, all delivered furnished, so price points span a wide band. As of the latest MLS pull there are 54 active units asking $509,900 – $1,999,000. The middle of that sat near $812,500, or about $1,446 a square foot (SEFMLS, live).

Monthly maintenance runs around $679 at the median across active units, which reflects the hotel-level services and staffed amenity program. Confirm the exact figure, what it includes, and the terms of the rental program for the specific line you are considering, since those drive the real return on a unit here.

Furnished, income-ready units mean buyers weigh nightly-rental yield as much as the asking price.

The Downtown Miami location

The address is 398 NE 5th Street, on Biscayne Bay in the heart of Downtown Miami. That puts Bayfront Park, the Brightline MiamiCentral station, the Adrienne Arsht Center, and Bayside Marketplace within walking distance, with Brickell and the Design District a few minutes away. For a nightly-rental investor, that walkable, transit-connected, waterfront location is exactly what drives occupancy. The map, walk-time list, and nearby-buildings sections above show what is in reach on foot.

The Elser sits on Biscayne Bay in walkable Downtown Miami, steps from Bayfront Park, Brightline, and Bayside.

Buying and owning at The Elser

The Elser opened in 2022 and quickly became one of the most active resale and rental buildings in Downtown Miami, driven by its short-term-rental-friendly policy. There are currently 54 active units on the market (SEFMLS, live), so there is real, current inventory to price against. Because units trade as turnkey, income-ready assets, buyers here are often weighing nightly-rental yield as much as a place to live.

Before you commit, confirm three things in writing: the HOA dues and exactly what they cover, how the in-house rental program splits revenue and what it requires of owners, and the current pet bylaws. On an income-focused condo-hotel these terms decide the actual yield, not the asking price, so pin them down early.

An income-focused condo-hotel where the rental-program terms, not the sticker price, decide the real return.

Address398 NE 5th St, Miami, FL 33132

Year built2022

Stories49

Residences646 fully furnished units, studio to multi-bedroom

DesignArchitecture by Sieger Suarez; developed by PMG and Greybrook

RentalsApproved for short-term and daily rentals, plus an in-house hotel program

AmenitiesRooftop pool, hot tub and yoga deck, multi-level gym, on-site dining, and South Beach Beach Club access

LocationDowntown Miami on Biscayne Bay, steps from Bayfront Park and Brickell

Active listing counts, prices, and price per square foot are pulled live from SEFMLS (miamire dataset) at The Elser 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.

Common Questions

Frequently Asked Questions

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