Condominium · Miami, FL
501 First Residences Miami, FL Homes For Sale & Real Estate
501 First Residences, Miami, FL, is a condominium in Miami-Dade County with 31 homes for sale right now. 501 First Residences is a community in Miami, Miami-Dade County, Florida.
Get Listings Alerts
Be the first to know when a new home hits the market in 501 First Residences.
501 First Residences Market at a Glance
Live MLS · Updated Oct 8, 2026
- Active Inventory
- 31
- New Listings (30d)
- 2
- Pending Sales
- 1
- Median List Price
- $520,000
- Avg Days on Market
- 126
Residential MLS data for 501 First Residences, updated nightly. View full market reports →
Available Now
Market Overview
501 First Residences real estate market
There are 31 active listings for sale in 501 First Residences right now. The median list price is $520,000, or about $1091 per square foot. Listings span $379,000 to $995,000, so there is inventory across most budgets. Homes are averaging 126 days on market. These figures update from the MLS as the market moves.
501 First Residences Market Stats
MLS data updated October 9, 2026- Active Listings
- 31
- Median List Price
- $520,000
- Median $/Sq Ft
- $1091
- Avg Days on Market
- 126
- Price Range
- $379,000 to $995,000
Frequently Asked Questions
- Is 501 First Residences a new-construction building?
- Yes. 501 First Residences was built in the 2025 to 2026 window, so it is a new-construction tower in Downtown Miami. Most current inventory is new delivery or very early resale. Because closings are still completing, availability changes quickly, and Pure Equity tracks the active listings so you see what is genuinely for sale today.
- How much do condos at 501 First Residences cost?
- As of the current market, listings run from about $395,000 to roughly $995,000, with a median near $579,000 and a price per square foot close to $1,063. Entry pricing tends to reflect smaller one-bedroom layouts, while the top of the range usually means larger units, better views, or premium positioning. Prices change with the market, so confirm the current figure per unit.
- Where is 501 First Residences located?
- The building sits in Downtown Miami, in Miami-Dade County, near the Miami Worldcenter district. That puts residents within walking distance of retail, dining, and transit including Brightline, Metromover, and Metrorail. The location is one of the more walkable parts of the city, which is a big part of the appeal for buyers who want to live without depending on a car.
- What types of units are available at 501 First?
- The price spread suggests a mix from compact one-bedroom and studio-style plans up to larger two- and three-bedroom homes near the top of the range. The median around $579,000 typically lands on well-sized one- and two-bedroom layouts. Pure Equity can pull the exact floor, stack, and exposure for any active listing so you compare real units rather than headline prices.
- What should i check about the HOA before buying?
- Ask for the current budget, the reserve study, the declaration, and the leasing and pet rules. Dues vary by unit and line, so confirm the figure for the specific residence. As a new building, its association is still settling into a normal operating rhythm, so read the current documents rather than older pre-construction drafts. Pure Equity reviews all of this with you before you commit.
- Can i rent out a unit at 501 First Residences?
- Leasing rules differ by building and can include minimum lease terms and caps on the number of rentals. Because the association's rules for a new tower can still be evolving, confirm the current leasing policy before you assume a unit can be rented short or long term. Pure Equity checks the leasing rules for you, and we never promise rental income or returns.
- How many homes are for sale in 501 First Residences?
- There are 31 active listings for sale in 501 First Residences right now, and these counts update from the MLS as homes come on the market and go under contract. Prices cluster fairly closely, with the top of the market about 2.6 times the entry level. Ask us to set up a search alert and you will see new 501 First Residences listings the day they reach the market.
- What is the median home price in 501 First Residences?
- The median list price in 501 First Residences is $520,000, or roughly $1091 per square foot. The median is the midpoint of what is currently listed, so about half of 501 First Residences homes ask more and half ask less, within a broader range of $379,000 to $995,000. The median sits in the lower part of that range, so most 501 First Residences homes are nearer the entry level and a few high-end listings pull the top up. We can pull recent comparable sales to price a specific home more precisely.
- What price range do homes in 501 First Residences cover?
- Homes for sale in 501 First Residences currently range from about $379,000 at the entry level to $995,000 at the top of the market. That spread reflects unit size, floor, and finish level across the condos and townhomes here, with the median list price around $520,000. The spread is moderate, so there is real choice here without the extremes some markets show. Tell us your budget and must-haves and we will send the 501 First Residences listings that actually fit.
- How long do homes take to sell in 501 First Residences?
- Homes in 501 First Residences are averaging 126 days on market, measured from the day a listing goes live to the day it goes under contract. That is a slow pace, so sellers here should expect to price carefully and buyers often have time to compare before committing. Days on market in 501 First Residences also shift with the season and with how a home is priced, so a sharply priced listing can still sell well ahead of the average.
About 501 First Residences
501 First Residences, Miami, FL, is a condominium in Miami-Dade County with 31 homes for sale right now. 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.
501 First Residences is a new-construction condominium tower in Downtown Miami, positioned near the Miami Worldcenter district in Miami-Dade County. As of the current market, 501 First Residences shows around 29 active listings, with a median price near $579,000 and asking prices that run from roughly $395,000 to about $995,000. Price per square foot sits close to $1,063, which places the building in the new-delivery tier for downtown, above older resale stock but still reachable for buyers who want a brand-new residence without moving into the ultra-luxury bracket. Because the tower was built in the 2025 to 2026 window, most of what you see today is either new delivery or very early resale, so inventory can shift quickly as closings complete. The location puts residents inside one of the most walkable parts of the city, close to transit, dining, and the events and retail around Worldcenter. Pure Equity tracks this building's availability daily, which matters in a project this new because a listing that looks current can go under contract before the data catches up. If you are weighing downtown options, 501 First gives you a fresh floor plan and modern systems in a spot with real day-to-day convenience.
As a new-construction building, 501 First Residences delivers contemporary design, current building systems, and finishes that meet today's code rather than the standards of a 1980s or 1990s tower. The brief confirms it is a downtown high-rise near Miami Worldcenter, so expect city and skyline views rather than direct oceanfront, which is normal for this part of the urban core. New towers in this district tend to come with energy-efficient glazing, updated elevators, and layouts built around how people actually live now, with usable kitchens and flexible interior space. Because the building is so recently completed, the wear-and-tear questions that dog older condos simply have not had time to appear, and reserve planning starts from a clean slate. That said, a new building still needs a funded budget and a reserve study, and Pure Equity walks buyers through those documents before they commit. The residences themselves read as modern city condos: efficient, light-filled, and aimed at owners who value being able to walk to work, transit, and nightlife. For anyone comparing new product downtown, the appeal here is simple. You get a residence that has never been lived in, in a location that keeps you connected to the rest of Miami.
The price range at 501 First Residences, from about $395,000 to roughly $995,000, points to a residence mix that runs from compact one-bedroom and studio-style layouts up to larger two- and three-bedroom homes near the top of the range. Entry-level pricing near $395,000 tends to attract first-time buyers, downtown professionals, and people who want a low-maintenance base in the city. The median around $579,000 sits in the middle of that spread, where you often find well-sized one- and two-bedroom plans. Units closer to $995,000 usually mean more square footage, better views, or premium positioning in the tower. Because the building is new, it draws a mix of end users who plan to live there full time, seasonal owners who want a lock-and-leave Miami home, and investors looking at the downtown rental pool. None of that is a promise of returns, and anyone buying to rent should study the building's leasing rules first. Pure Equity can pull the exact stack, floor, and exposure for any active listing so you are comparing real units, not just headline prices. Matching the plan to how you actually intend to use the home, full time, part time, or as a rental, is the part worth slowing down for.
Lifestyle at 501 First Residences is built around its Downtown Miami address more than any single amenity. New towers in this district typically include a pool deck, a fitness center, and attended lobby or building services, and the specific amenity package for any unit should be confirmed in the current offering documents rather than assumed. What sets the location apart is walkability. The Worldcenter area brings retail, restaurants, and event space within a short walk, and the broader downtown grid connects to Brightline, Metromover, and Metrorail for getting around without a car. Buyers who work downtown or in Brickell often value being able to skip the drive entirely. The neighborhood has shifted over the past decade from a nine-to-five business district into a genuine residential area, with grocery, coffee, and services filling in around the new towers. For a buyer, that means the day-to-day errands are close, and the airport and the beaches are both a reasonable drive. Pure Equity can talk through which lines and floors give the best light and quietest exposure, since a downtown high-rise can vary a lot from one side of the building to the other. The location does a lot of the work here, and that is the point of buying in this part of the city.
Because 501 First Residences is a new building, its association budget, reserves, and rules are still settling into a normal operating rhythm, and that is exactly where careful review pays off. Monthly dues vary by line and unit size, so confirm the current figure for the specific residence rather than working from a building average. Florida now requires structural milestone inspections and reserve studies for condominium buildings once they reach a certain age, and while a 2025 to 2026 tower is far from that threshold, the reserve funding rules still shape how the association plans for the future. Ask for the current budget, the reserve study, and any developer turnover documents so you understand who controls the association and how it is funded. Leasing and pet rules also differ from building to building, including minimum lease terms and any caps on rentals, which matters a great deal if you plan to rent the unit. Pure Equity reviews the budget, the declaration, the rules, and the leasing policy with buyers before they sign, so there are no surprises after closing. In a new project, these documents evolve, so read the current version rather than an older draft that may have circulated during pre-construction.
Buying or selling at 501 First Residences comes down to timing and documentation, since inventory in a newly delivered tower moves in waves as closings and early resales hit the market. Buyers should get pre-approved or have proof of funds ready, because well-priced units in a fresh building can attract quick offers. Sellers benefit from pricing against genuinely comparable stacks and floors rather than the full range, given how much view and exposure affect value here. Insurance is worth understanding early. High-rise condo owners in Miami-Dade carry an individual policy for their unit while the association insures the structure, and coastal Florida buildings face wind and, depending on elevation and flood zone, flood considerations that you should verify per unit rather than assume. A newer building often carries a stronger structural profile, but you still confirm the association's master policy and any assessments. Pure Equity, a licensed Florida brokerage, can pull current availability, share the building's documents, and connect you with insurance and lending contacts who know downtown condos. If you want to see what is on the market at 501 First Residences right now, the live listings on this page update as inventory changes, and our team can arrange a private showing whenever you are ready.
Homes & Architecture
Homes for sale in 501 First Residences
Homes for sale in 501 First Residences offer 1 to 2 bedrooms and 1 to 2 baths. Living areas run from about 343 to 757 square feet. The mix here includes condo homes. Current prices run from $379,000 to $995,000. The homes on the market were built between 2025 and 2026.
Schools
Schools near 501 First Residences
Homes for sale in 501 First Residences are typically zoned for the Miami public schools below, based on current MLS listings. Confirm the exact attendance zone for any specific address with the Miami-Dade County school district before you buy.
- Elementary School
- Frederick Douglass
- Middle School
- Jose De Diego
- High School
- Booker T. Washington
HOA
501 First Residences HOA fees
- Median HOA fee
- $750/mo
- Typical range
- $588 to $884
- Lowest to highest
- $150 to $1,300
- Listings with a fee
- 31 of 31
Across the 31 homes for sale in 501 First Residences that list an HOA fee, the median is $750 a month. Half of them fall between $588 and $884. Fees quoted quarterly or yearly are converted to a monthly figure so they compare directly.
The fee most often covers internet, water, common areas, security, trash pickup and pool upkeep. Coverage differs from one building or section to the next, so read what a specific listing includes before comparing it with another.
Listings here most often mention pool, fitness center, grounds maintenance, elevators, clubhouse and business center.
29 of the 31 listings that state a pet policy allow pets, often with limits.
From current MLS listings in 501 First Residences; the figures change as homes come and go. Confirm the fee, any special assessments and the association's rules with the HOA before you buy.
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.
Market & Value
501 First Residences market and home values
Values in 501 First Residences track the community's own sales more closely than any broad regional number. The median list price in 501 First Residences is around $520,000, or roughly $1,091 per square foot. That sits about 13% below the Miami-Dade County median, which shows where 501 First Residences lands in the local market. Recent asking prices have run from $379,000 to $995,000, so the home you choose within 501 First Residences matters as much as the community average. Homes here have recently taken about 126 days to go under contract, a useful gauge of how quickly the 501 First Residences market is moving. For pricing an offer or a listing, comparable sales within 501 First Residences carry more weight than any headline number, since homes of the same type and size set the real range. Pure Equity can pull the active and recently sold homes in 501 First Residences so you work from real numbers, not an estimate.
How It Compares
501 First Residences compared to nearby Miami communities
501 First Residences sits 6 of 7 on median price among these Miami communities. Price per square foot is the fairer comparison between communities, because it adjusts for the fact that one neighborhood builds bigger homes than another. Days on market shows how quickly each one is actually selling.
| Community | Homes | Median | $/Sq Ft | Days |
|---|---|---|---|---|
| Aston Martin Residences | 45 | $3,250,000 | $1,571 | 243 |
| Rise | 43 | $1,099,900 | $856 | 134 |
| Paramount Miami Worldcent | 65 | $935,000 | $671 | 264 |
| Icon Brickell | 61 | $770,000 | $763 | 198 |
| Icon Brickell | 43 | $770,000 | $821 | 174 |
| 501 First Residences this page | 31 | $520,000 | $1,091 | 126 |
| Opera Tower | 46 | $340,000 | $478 | 186 |
Medians come from active listings in each community and move as inventory turns over. They describe the homes currently for sale, not what any one home is worth.
Who It Suits
Is 501 First Residences right for you?
A quick read on who fits 501 First Residences saves time before you visit. 501 First Residences suits a range of buyers, from first-time owners to move-up families, who want a home in Miami with the everyday conveniences of the area close by. On price, 501 First Residences lands in the middle of the market, a common fit for move-up buyers and full-time residents. Whether 501 First Residences is right for you depends on how you plan to use the home, full time or seasonally, and Pure Equity can walk you through the tradeoffs before you commit.
Amenities & Lifestyle
Living in 501 First Residences
501 First Residences is a residential neighborhood, and its homeowners association maintains the shared areas and community standards.
Location
501 First Residences location
501 First Residences is located in Miami, part of Miami-Dade County, Florida. The Miami area's shopping, dining, schools, and parks are all nearby, and the region's job centers, beaches, and airports are within driving distance.
Buying in 501 First Residences
Buying a home in 501 First Residences
Buying in 501 First Residences follows the same path as the rest of Miami-Dade County. Getting a mortgage pre-approval first tells you your real budget and lets you move quickly when the right home comes up. Property taxes factor into the monthly payment: the median annual property tax in Miami-Dade County is about $3,516. Florida's homestead exemption lowers the taxable value of a primary residence, and the Save Our Homes cap limits how fast that assessed value can rise from year to year. Budget for homeowners insurance as well. Rates in Florida reflect wind and flood exposure, so gather quotes early and check whether a specific address sits in a FEMA flood zone. Once you are under contract, plan for a home inspection and, if you are financing, a lender appraisal, both of which fall inside the inspection period. Working with an agent who knows Miami means you see new listings in 501 First Residences the day they reach the market.
Selling in 501 First Residences
Selling a home in 501 First Residences
A successful sale in 501 First Residences comes down to pricing, presentation, and marketing. List prices in 501 First Residences currently center around $520,000, which is a starting reference for where a comparable home might be positioned. Homes that are decluttered, professionally photographed, and priced to recent comparable sales tend to draw the most interest in the first two weeks, when a listing is newest and gets the most views. Florida sellers usually pay the documentary stamp tax on the deed, currently $0.70 per $100 of the sale price in most counties, along with prorated property taxes and, by local custom in many areas, the owner's title insurance policy. We provide a no-obligation home valuation for 501 First Residences owners in Miami, so you can see what your property could sell for before you commit to listing.
Thinking of Selling?
What is your 501 First Residences home worth?
Online estimates miss what makes a home different. Tell us about yours and a licensed listing agent will send you a pricing opinion based on what has actually closed near you in 501 First Residences.
Listing agents and seller representation in 501 First Residences
Thinking about selling in 501 First Residences? The agent you pick shapes two numbers: what your home closes for, and how long it takes. A listing agent, also called a seller's agent, prices the property against what has actually closed nearby. They also prepare and market it, screen the offers that arrive, and negotiate the terms rather than just the price.
Conditions in 501 First Residences sit close to balanced, which rewards sellers who price against real closed sales instead of neighboring asking prices. Homes here are averaging about 126 days from listing to accepted offer, so build that into your moving timeline.
Community-level detail matters most here. Association rules, what the fees cover, and which buildings sell fastest all affect your outcome. So does whether a buyer needs board approval before closing. None of it appears in a listing description. All of it decides whether a sale closes on time.
Pure Equity is a licensed Florida brokerage serving 501 First Residences. Onias Derilus is the broker of record, Florida Real Estate Broker license BK3276618. A broker holds a higher license than an agent working under one. In practice that means the person advising you on price is also the one legally responsible for the file. That matters most when a deal gets complicated.
More on this: listing agents in Miami · understanding your listing agreement · selling a house with hurricane damage
Realtors and real estate agents serving 501 First Residences
People search for realtors, real estate agents, and real estate brokers more or less interchangeably. For most purposes the job title matters less than licensing and representation. Every licensed agent in Florida works under a broker. That broker carries final responsibility for the transaction.
What separates real estate professionals in 501 First Residences is specificity. Can they answer questions about your street, not just your city? Ask what they have closed nearby and how they arrived at a price. A grounded answer cites particular recent sales. It also explains why those homes compare to yours. Vague reassurance is the warning sign.
More on this: home value after a renovation: what actually adds · how waterfront homes are valued · selling a condo or HOA home
Buyer's agents in 501 First Residences
A buyer's agent represents the purchaser rather than the owner. They identify properties that actually fit and research what comparable homes sold for, not what they asked. They also advise on offer strategy. Finally, they manage inspection and financing deadlines through to closing.
Where buyers have room to negotiate, as they do in 501 First Residences, the leverage is only worth something if you know where it exists and what to ask for. If you are buying and selling at the same time, which is common for people moving within Miami-Dade County, sequencing the two is its own skill: contingencies, timing, and what happens if one closing slips all need planning before either home goes on the market.
What representation costs
Real estate commissions are negotiable. No law, multiple listing service, or association sets them. If an agent tells you there is a standard rate, they are misinforming you. What you pay is agreed between you and the brokerage you hire. Get it in writing before the work begins.
Industry rules changed in 2024. Now a buyer and their agent must put compensation in a written buyer agreement before touring homes together. Sellers may still offer to contribute toward the buyer's side. However, that is negotiated rather than assumed. It is worth thinking through with your listing agent before you go live.
More on this: how commission is actually structured · how long it takes to sell a house · what you actually walk away with
Buying Instead?
Search 501 First Residences with someone local
We will tell you which listings are worth your time, what comparable homes actually closed for, and how to structure an offer that holds up through inspection and financing.
Frequently asked questions
How do I find a listing agent in 501 First Residences?
Ask any listing agent you interview two questions. Which homes have they closed near 501 First Residences, and how did they arrive at their suggested price? A grounded answer names recent closed sales. It also explains why those homes compare to yours. With a median around $520,000 here, the gap between realistic pricing guidance and optimistic guidance is real money. Verify the license too. Florida licenses are public and searchable through the state's DBPR portal. Pure Equity is a licensed brokerage serving Miami-Dade County. You can reach the broker directly at (561) 835-5400.
What does a seller's agent actually do?
A seller's agent prices the home against comparable closed sales. Before it goes live, they advise on repairs and presentation. Then they handle photography and marketing, and put the home in front of buyers and other agents. When offers arrive, they screen them and negotiate both price and terms. Terms matter as much as the number, because inspection windows, financing contingencies, and closing dates all affect whether an offer reaches the closing table.
How much does a real estate agent cost in 501 First Residences?
Commissions are fully negotiable. No law or real estate board sets them. What you pay is whatever you and your brokerage agree to in writing before work begins. Since the 2024 rule changes, buyers and their agents must agree compensation in a written buyer agreement before touring homes. Any seller contribution toward the buyer's side is negotiated rather than automatic. Ask any agent you interview to put their fee in writing.
What is the difference between a realtor, a real estate agent, and a broker?
A real estate agent holds a state license to represent buyers and sellers. A broker holds a higher-level license and can operate a brokerage. That broker also carries final legal responsibility for the office's transactions. Realtor is a membership term for agents belonging to the National Association of Realtors. For someone buying or selling in 501 First Residences, three practical questions matter. Is the person licensed, who do they represent in your transaction, and what can they actually tell you about your local market?
Do I need an agent to buy a home in 501 First Residences?
You are not legally required to use one, but most buyers in 501 First Residences do. A buyer's agent handles the parts that are easy to get wrong. That means identifying what comparable homes actually closed for, spotting condition or association issues early, and managing inspection and financing deadlines. Even in a slower market, negotiating room is only useful if you know where it exists.
Can one agent help me sell my current home and buy the next one?
Yes. For people moving within Miami-Dade County it is often the more practical route, because one person coordinates both timelines. Sequencing is the hard part. Should your purchase be contingent on your sale? How would you cover a gap if the closings do not line up? What happens if one side is delayed? Plan all of that before either home is listed, rather than after an offer arrives.
Public Records
Look up 501 First Residences property records
Anything on this page that affects what a home costs to own, assessed value, exemptions, flood zone, is published by a public agency. These are the official sources, not our summaries of them.
Miami-Dade County Property Appraiser
Assessed value, homestead exemption status, and recorded sales history for any parcel.
FEMA Flood Map Service Center
Look up the official flood zone for an address before you budget for insurance.
Florida Department of Revenue, property taxes
How Florida assesses property, and which exemptions you can claim.
More Communities in Miami
Aston Martin Residences
Waterfront Community
Paramount Miami Worldcent
Condominium
Icon Brickell
Waterfront Community
Opera Tower
Waterfront Community
Rise
Condominium
Icon Brickell
Waterfront Community
Montecarlo
Condominium
The Standard Residences
Waterfront Community
1300 S Miami Avenue
Condominium
District 225
Condominium
Paraiso Bayviews
Waterfront Community
Venetia
Waterfront Community
Nearby Communities in Miami-Dade County
Related Reading
501 First Residences Reading
Home Buying Tips · October 1, 2026
Leaving Miami or Fort Lauderdale? Affordable Alternatives to Miami in Palm Beach County and Port St. Lucie
Palm Beach County as a whole costs about what Broward does. This guide compares Port St. Lucie, Greenacres, Royal Palm Beach and Lake Worth on price, monthly cost and commute so you can see where a move north actually saves money.
Celebrity Homes · September 21, 2026
Where Does Jordi Alba Live in Florida? What Is Reported About His Miami Home
Jordi Alba has kept his main home in the Miami area since joining Inter Miami in 2023, according to Spanish press, though no outlet has named his community. This post covers what is on the record, the Barcelona villa he is trying to sell, and what homes near his former teammates cost.
Celebrity Homes · September 21, 2026
Where Does David Beckham Live in Florida? His Miami Penthouse and What Came Next
David Beckham's Miami home was a full-floor penthouse at One Thousand Museum, the Zaha Hadid tower downtown, which he bought in 2020 for about $19.8 million and sold in 2025 for about $25 million. His main homes are in London and the Cotswolds. Here is what was reported and what downtown Miami condos cost.