35
121 NE 5th ST # 2101, Miami FL 33132 | Miami-Dade County | A11998848
  • $995,000

Description

Rare 2 Bed / 2 Bath at 501 First Residences, Downtown Miami’s premier new tower. Perched on the 21st floor with a SE-facing balcony, this residence offers 760 sq ft per county records, with the developer’s floor plan reflecting 835 sq ft interior + 180 sq ft balcony for 1,015 sq ft of total living area.

Open-concept layout with floor-to-ceiling impact windows, custom Italian kitchen cabinetry, premium appliances, and in-unit washer/dryer. Primary bedroom features a full en-suite bath; second bedroom and additional full bath offer ideal flexibility for guests, roommates, or maximizing rental income. No rental restrictions — Airbnb allowed from day one. Delivered fully furnished and move-in ready.
Enjoy 20,000+ sq ft of amenities: rooftop pool, hot tub, fitness center, 24/7 valet, co-working spaces, pet lounge, and media room — without condo-hotel restrictions.

Steps from Miami Worldcenter, Brightline, Kaseya Center, and world-class dining. Minutes to Brickell, Wynwood, and MIA.

The SE exposure frames iconic views of Biscayne Bay, PortMiami, and the Downtown skyline — among the most photogenic in the building. Unit is brand new and never occupied, offering true first-owner condition. With Downtown Miami’s continued growth, strong short-term rental demand, and no income restrictions, this is a rare asset that works equally well as a primary residence, second home, or income-producing investment.

Property Overview

This two-bedroom, two-bathroom condo at 501 First Residences is located on the 21st floor and offers a total living area of 1,015 square feet, including an 180-square-foot southeast-facing balcony. The unit is fully furnished and move-in ready, with no rental restrictions, allowing for immediate Airbnb use. The layout is open and features impact-resistant windows, floor to ceiling, plus a custom Italian kitchen with premium appliances and in-unit washer and dryer. The primary bedroom includes an en-suite bathroom, and the second bedroom and full bathroom offer flexible living or rental options. The home is part of a new construction tower that will be completed in 2026 and is priced at $995,000. Monthly HOA fees are $1,244. Residents have access to over 20,000 square feet of amenities, including a rooftop pool, hot tub, fitness center, co-working spaces, media room, pet lounge, and 24/7 valet service. The building has no condo-hotel restrictions. The unit is located at 121 NE 5th Street, in the heart of Downtown Miami, and is within walking distance of the Miami Worldcenter, Brightline, and Kaseya Center. It's also close to Brickell, Wynwood, and Miami International Airport.

Frequently Asked Questions

How many bedrooms and bathrooms does this unit have?

This unit has 2 bedrooms and 2 full bathrooms.

What is the total living area of the unit?

The developer's floor plan lists the interior as 835 sq ft, plus an 180 sq ft balcony, for a total of 1,015 sq ft of living area. County records list 760 sq ft.

Is rental allowed, including short-term rentals like Airbnb?

Yes, rental is allowed with no restrictions, and Airbnb is permitted from day one.

What are the monthly HOA fees?

The monthly HOA fee is $1,244.

What amenities are included in the building?

The building offers over 20,000 sq ft of amenities, including a rooftop pool, hot tub, fitness center, co-working spaces, pet lounge, media room, and 24/7 valet service.

Where is the building located, and what are the nearby attractions?

The building is located at 121 NE 5th ST, Miami FL 33132. It is steps from Miami Worldcenter, Brightline, and Kaseya Center, and minutes from Brickell, Wynwood, and Miami International Airport.

Monthly Fees & Carrying Costs

Association Fee $1,244 / month
Total Monthly Fees $1,244 / month
  • Membership Required: No
  • Application Fee: $150 (one-time)
  • Address: 5th ST
  • City: Miami
  • State/county: Miami-Dade County
  • Zip/Postal Code: 33132
  • Area: 501 First Residences

Details

Updated on June 29, 2026 at 12:55 pm
  • Property ID A11998848
  • Price $995,000
  • Property Size 835 Sq Ft
  • Bedrooms 2
  • Room 0
  • Bathrooms 2
  • Garage 1
  • Year Built 2026
  • Type Condominium
  • Property Status Active, Residential

Additional details

  • Flooring Tile
  • Bedroom Features Entry Level, Primary Bath Shower
  • Cooling Central Air
  • Association Type Homeowners
  • Building 501 First Residences
  • Association Fee Frequency Monthly
  • Area 501 First Residences
  • Annual Tax 0
  • Association Yes
  • Private Pool Yes
  • Listing Terms All Cash, Conventional, FHA
  • Waterfront No
  • Full Bathrooms 2
  • Subdivision 501 First Residences
  • Total Stories 40
  • Restrictions Daily Rentals Allowed, Ok To Lease
  • Maintenance Includes All Amenities
  • Parking Valet
  • Heating Central
  • Structure Type Condo 5+ Stories, Condo
  • Tax Year 2025
  • Covered Spaces 1
  • Unit Floor 21
  • View Bay, Skyline, Water View
  • Year Built Details New Construction
  • Pets Allowed Yes
  • Attached Yes
  • Unit Number 2101
  • Patio / Porch Open Balcony, Open Porch
  • New Construction Yes
  • Garage Spaces 1
  • Style Condo 5+ Stories
  • Association Fee 1244
  • Lot Size (Sq Ft) 0
  • Membership Purchase Required No

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Christopher Lazaro

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