Price Check
How this price compares
- List price
- $485,000
- Price per sq ft
- $800
- Original price
- $589,000
- Days on market
- 153
This 1-bedroom condo in 501 First Residences is listed at $485,000, or $800 per square foot. The asking price has come down 17.7% from its original $589,000. It has been on the market for 153 days.
Estimated monthly payment
$2,549 /mo
Principal and interest only, based on $97,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance, and the $877/mo HOA are not included.
Customize this estimateListing Snapshot
- Price
- $485,000
- Days on Site
- 153 Days
- Bedrooms
- 1
- Total Baths
- 1
- Full Baths
- 1
- Partial Baths
- 0
- Living Area
- 606 sqft
- Year Built
- 2025
- Property Type
- Condo
- MLS #
- A12015913
- HOA Fees
- $877 / Monthly
- Subdivision
- 501 FIRST RESIDENCES
- Development
- 501 FIRST RESIDENCES
- County
- Miami Dade
- Status
- Active
About This Property
DRASTICALLY REDUCED FOR QUICK SALE!-RENTED FOR $2500 UNTIL 6/14/2027- BUYER HAS TO ASSUME CURRENT LEASE-This newly completed 29th-floor residence at 501 First offers an exceptional turnkey opportunity with high-demand skyline views, no rental restrictions, and a prime location in the heart of Miami’s rapidly expanding Worldcenter district. Unit 2908 represents a high-yield asset in one of the city's most desirable new developments, perfectly positioned for both short-term rental income and long-term capital appreciation. This 1-bedroom, 1-bathroom unit featuring a sleek, modern floorplan designed for maximum efficiency. Located on the 29th floor, the unit offers 535 square feet of interior living area complemented by an expansive 86-square-foot balcony. The deep terrace provides north-facing views of the evolving urban core, overlooking iconic landmarks like the Freedom Tower and the Kaseya Center. Situated at the epicenter of Miami's multi-billion dollar Worldcenter project, the property offers unparalleled connectivity. Directly adjacent to the Brightline high-speed rail station, offering a critical transit link for travelers and business professionals alike. Steps away from world-class dining, the Miami Heat arena, and the upcoming world-class shopping promenades. The building’s policy allowing for unrestricted short-term rentals makes this an ideal candidate for high-frequency vacation rental platforms.
Virtual TourGeneral Features
- Property Type
- Condo
- Status
- Active
- Year Built
- 2025
- Property Condition
- New Construction
- New Construction
- Yes
- Number of Stories
- 40
- Garage Spaces
- 0
- Parking
- Valet
- Direction Faces
- North
- Living Sq Ft
- 606
Interior Features
- Appliances
- Dryer / Dishwasher / Electric Range / Electric Water Heater / Disposal / Ice Maker / Microwave / Refrigerator / Washer
- Cooling
- Central Air / Electric
- Heating
- Central / Electric
- Flooring
- Ceramic Tile / Tile
- Interior Features
- Bedroom On Main Level / Entrance Foyer / Living Dining Room
- Windows
- Blinds
- Furnished
- Furnished
Exterior Features
- Construction
- Block
- Exterior Features
- Balcony / Lighting / Outdoor Living Area
- Pool Features
- Association / Heated
- Patio & Porch
- Open / Porch / Wrap Around / Balcony
- View
- Other / Skyline / Water
Community & HOA
- HOA Fee
- $877 / Monthly
- HOA Includes
- Common Areas / Legal Accounting / Maintenance Grounds / Maintenance Structure / Pools / Sewer / Security / Trash / Water
- Association Amenities
- Billiard Room / Bike Storage / Business Center / Clubhouse / Community Kitchen / Fitness Center / Maintenance Grounds / Management / Pool / Spa Hot Tub / Trash / Elevators
- Security
- Fire Alarm / Fire Sprinkler System / Smoke Detectors / Security Guard
- Pets Allowed
- No
- Financing Terms
- Cash
- Restrictions
- Other Restrictions
- MLS Area
- 2410
This home's HOA fee works out to $877 a month, 17% above the $750 median across 31 homes for sale in 501 First Residences. See 501 First Residences HOA fees
Schools
- Elementary School
- Frederick Douglass
- Middle School
- Jose De Diego
- High School
- Booker T. Washington
About the Community
501 First Residences is a community in Miami, Miami-Dade County, Florida. Active listings are priced from $375,000 to $995,000. Homes were built between 2025 and 2026. Pure Equity lists homes in 501 First Residences and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
- Homes for Sale
- 31
- Under Contract
- 1
- Median List Price
- $520,000
- Median $/Sq Ft
- $1,091
- Avg Days on Market
- 126
Frequently Asked Questions
- How do I schedule a tour of 121 NE 5 Street 2908, Miami, FL 33132?
- Use the Tour button on this listing to request a showing of 121 NE 5 Street 2908, Miami, FL 33132. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 121 NE 5 Street 2908, Miami, FL 33132 still available?
- 121 NE 5 Street 2908, Miami, FL 33132 is currently listed as Active, and has been on the market 153 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 121 NE 5 Street 2908, Miami, FL 33132?
- With 20% down ($97,000) on the $485,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 121 NE 5 Street 2908, Miami, FL 33132 is about $2,549/mo, before property taxes, insurance, and HOA dues. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 121 NE 5 Street 2908, Miami, FL 33132?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 121 NE 5 Street 2908, Miami, FL 33132. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- Does 121 NE 5 Street 2908, Miami, FL 33132 have an HOA fee?
- Yes: 121 NE 5 Street 2908, Miami, FL 33132 carries an HOA fee of about $877 monthly. HOA dues usually cover community amenities and shared maintenance; ask us for the current budget, rules, and exactly what's included.
- What schools serve 121 NE 5 Street 2908, Miami, FL 33132?
- 121 NE 5 Street 2908, Miami, FL 33132 is zoned for Frederick Douglass (elementary), Jose De Diego (middle), Booker T. Washington (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 121 NE 5 Street 2908, Miami, FL 33132?
- Often, yes. The right offer on 121 NE 5 Street 2908, Miami, FL 33132 depends on how it's priced against comparable condo sales in Miami, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of Cervera Real Estate Inc.
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated June 23, 2026.
$485,000
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Listed by Patricio J Orloff, Cervera Real Estate Inc.
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Recent Sales
Recently sold homes in 501 First Residences
These are the last 2 recorded closings in 501 First Residences, with the price each home actually sold for rather than what it was listed at. They closed at a median of $854 per square foot. The most recent closed on August 25, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$370,000
Sold · August 25, 2026
121 NE 5 Street 801B
0 bed · 1 bath
$25,000 under the asking price
Sold$391,000
Sold · July 9, 2026
121 NE 5th Street 912B
0 bed · 1 bath · 458 sqft · $854/sqft
$23,500 under the asking price
See every recorded sale in 501 First Residences or find out what your 501 First Residences home is worth.
