The project
501 First Residences is a completed 40-story, 476-residence tower at 121 NE 5th Street in Downtown Miami, developed by Aria Development Group with architecture by Revuelta Architectural International and interiors by Shim Projects. Studios and one- and two-bedroom homes are fully finished and furnished, most with balconies and bay or city views.
Construction concluded by June 2026 and units are ready for immediate occupancy. Launch pricing began in the low $300,000s and current listings run from about $390,000 to $995,000; confirm today's availability with the sales team. Source: official project website and Florida YIMBY, verified October 2026.
Project snapshot
501 First Residences at a glance.
The facts below are drawn from this guide and from the developer's published materials. Where a fact is not verified, the page says so plainly rather than guessing.
- Location / County
- Downtown Miami, Miami-Dade County
- Residence types
- Studios and 1-2 bedroom residences, ~385-835 sq ft
- Status
- Completed
- Estimated completion
- Completed 2026
- Published pricing
- Listings from ~$390K
- Developer
- Aria Development Group with AQARAT
- Rental restrictions
- No rental restrictions reported
- Sales gallery
- On-site at the property
Information reviewed October 2026. Prices, availability, and completion dates change frequently. Confirm current terms with the developer or a licensed advisor.
- Developer Aria Development Group with partner AQARAT; architecture Revuelta Architecture International; interiors Shim Projects: Source: Official project website, verified October 2026
- 476 residences in a 40-story tower, studios to two-bedrooms of about 385 to 835 sq ft on levels 3 through 37: Source: Official project website, verified October 2026
- Construction concluded June 2026; building complete and open: Source: Florida YIMBY, verified October 2026
- Current listings about $390,000 to $995,000; starting prices around $430,000 reported at completion: Source: MiamiResidential and Florida YIMBY, verified October 2026
- No rental restrictions reported; short-term rentals allowed: Source: Condo Black Book, verified October 2026
- Amenity program: rooftop Verde deck with 75-foot lap pool, HOMAGE fitness, pet lounge and Luxer One parcel rooms: Source: Official amenities page, verified October 2026
Sources consulted for this guide
- 501 First Residences official website
- Official residences page (unit mix and interiors)
- Official amenities page
- Florida YIMBY, construction finished June 2026
- MiamiResidential, current listings
- Condo Black Book, rental rules and amenities
Source links open in a new tab and are provided for verification only. Facts carry the verification date recorded above; prices, availability, and timelines change and require sales-gallery confirmation.
Verified facts carry the source links above, each pointing to the original public source where one is available. Everything else on this page is marked Not verified or Contact for current information. This page never hosts or hotlinks external files, renderings, brochures, or floor plans; where a document exists only on the developer's site, the source link above is the reference.
At a glance
501 First Residences in Downtown Miami, in numbers.
County
Miami-Dade
City
Miami
Neighborhood
Downtown MiamiDeveloper
Aria Development Group
Address
121 NE 5th Street, Miami, FL 33132
Price range
Current listings ~$390K-$995K
Starting price
From the low $300,000s at launch
Residences
476
Floors
40
Sales availability
Completed; units available for immediate occupancy, plus an active resale market
Est. completion
Completed 2026
Residence types
Studios, 1-2 bedroom residences
Construction status
Completed
Property category
Condominium
Design & architecture
Architecture by Revuelta Architectural International; interiors by Shim Projects; developed with partner AQARAT
Official website
Official project siteGallery
Renderings and interiors.
Developer renderings and interior imagery are updated as phases release. Current documents are shared privately with registered buyers.
Interior renderings on request
Floor plans on request
Pricing & availability
What 501 First Residences costs today.
The advertised starting price is the developer's published entry point. Available units, real pricing bands, and incentives change as phases sell, so we confirm current terms with the sales team before you commit capital.
- Advertised starting price
- From the low $300,000s at launch
- Published price range
- Current listings ~$390K-$995K
- Available units / sales status
- Completed; units available for immediate occupancy, plus an active resale market
- Price by bedroom configuration
- Launch pricing from the low $300,000s (roughly $304,000-$705,000 in early listings); current listings range about $390,000 to $995,000; starting prices around $430,000 reported at completion
- Penthouse pricing
- Contact for current information
- Deposit schedule
- As a completed building, purchases are resale or inventory transactions with traditional financing; no construction deposit schedule
- Developer incentives
- Contact for current information
Current pricing sheet for 501 First Residences.
Price lists, deposit schedules, and any developer incentives are shared privately with registered buyers after the sales team confirms today's numbers.
Request current pricingWhere a number is not published on this page, the row reads Contact for current information rather than guessing. Never treat an advertised starting price as the price of a specific available unit.
Architecture & residences
The building and residences at 501 First Residences.
The building profile below records what this page verifies about the tower and its residences: floor counts, unit mix, dimensions, finishes, and views. Anything the page does not state is marked Not verified rather than guessed. Layouts, dimensions, and pricing change as phases sell, so current floor plan documents, view matrices, and availability are shared with registered buyers.
- Towers / floors
- 40
- Total residences
- 476
- Residence types
- Studios, 1-2 bedroom residences
- Square footage
- Studio & One Bedroom: ~385-700 sq ft; Two Bedroom: ~835 sq ft
- Ceiling heights
- Not verified
- Finishes
- Fully finished and furnished residences with private balconies on most units
- Kitchens
- Not verified
- Baths
- Not verified
- Smart-home features
- Not verified
- Parking & storage
- 24/7 valet parking under a porte-cochere; air-conditioned bicycle storage
- Views
- Bay and city views from upper levels
The floor plans at 501 First Residences.
Layouts, dimensions, and pricing change as phases sell. We share current floor plan documents, view matrices, and availability with registered buyers.
Studio & One Bedroom
Studio-1 bedroom · ~385-700 sq ft
Furnished entry residences with bay and city views.
Two Bedroom
2 bedroom · ~835 sq ft
Larger layouts; current availability confirmed by the sales team.
Full floor plan documents, view matrices, and current availability are shared privately with registered buyers.
Request floor plansAmenities & lifestyle
The amenity program at 501 First Residences.
The list below records every amenity this page verifies for the project. Where the status of an amenity is not documented on this page, confirm with the sales team whether it is planned or already operating before you rely on it.
24/7 valet parking under a porte-cochere
Ground-floor bistro and bar by GPG Hospitality
Air-conditioned bicycle storage
Pet spa and lounge
Personal storage
Boardrooms with video conferencing
Co-working spaces with an east rooftop co-working area
Private art and music events
Rooftop Verde deck with a 75-foot resort-style lap pool
Hot tub and cold plunge
Rooftop outdoor movie theater and game lawn
HOMAGE-designed fitness center with yoga and meditation
VIP residents' lounge (Greenhouse)
Luxer One automated parcel rooms
Summer kitchen and grill
Private balconies and in-unit washer and dryer
Construction & completion
Where 501 First Residences stands today.
Completion dates on new construction are estimates, not promises: they shift with permitting, financing, and the pace of the build. Announced milestones below are the ones this page records; anything unverified is marked plainly, and the current timeline should be confirmed with the developer before you plan around it.
- Construction status
- Completed
- Estimated completion
- Completed 2026
- Announced milestones
- Construction concluded on the 40-story tower by June 2026; units ready for immediate occupancy
Estimated completion is the developer's target as recorded on this page and is not a verified delivery date. Where the timeline is not verified, current scheduling requires confirmation with the project's sales team.
Location & neighborhood
Where 501 First Residences sits.
Address, neighborhood position, and nearby attractions below are recorded from this page's own project notes. Drive times, walk scores, and ratings are never invented on this site; where they are not documented here, the community guide is the best next step.
- Street address
- 121 NE 5th Street, Miami, FL 33132
- City
- Miami
- County
- Miami-Dade
- Neighborhood
- Downtown Miami
- Position & nearby
- 121 NE 5th Street in Downtown Miami, steps from Museum Park and the Miami River
- Transport notes
- Walkable to Metromover and Metrorail; minutes from I-95 and the MacArthur Causeway
Community guide
Downtown Miami
Explore Downtown Miami living, dining, and market context in the full community guide.
Explore the areaOwnership considerations
What to know before you commit.
General guidance for new construction buyers. Building-specific details are marked "Not verified" where they have not been confirmed for this project.
- Short-term rental policy
- No rental restrictions reported on the official project site; confirm current association rules
- Minimum rental period
- Not verified
- Leasing / owner-occupancy rules
- Not verified; confirm current leasing and occupancy terms with the sales team
- HOA / condo fees
- Not published on this page; request the current budget before you commit
- Financing notes
- Not verified on this page; the deposit schedule above records the financing model this page states for the project, and loan terms are confirmed before contract
Closing costs
Florida buyer closing costs typically include title insurance, lender fees, county recording charges, prorated property taxes, and Florida documentary stamp tax on the purchase price. The exact figure for this building is not published on this page, so confirm the current estimate before you sign. Not verified.
Not verified
HOA and condo fees
New towers typically assess monthly HOA or condominium fees covering common areas, amenities, insurance, and building staff, with special assessments possible for capital projects. Monthly fees and assessment history for this project are not published on this page; request the current budget. Not verified.
Not verified
Deposit process
Pre-construction purchases in Florida commonly require staged deposits across contract, groundbreaking, and closing milestones, held in escrow. The exact schedule for this project should be confirmed in writing with the developer before you commit. Not verified.
Not verified
Flood and wind insurance
Coastal properties carry flood and windstorm insurance requirements that can add meaningfully to monthly carrying costs, and premiums have risen across Florida. The current premium profile for this building is not published on this page; confirm with an insurance advisor. Not verified.
Not verified
Buyer questions
501 First Residences, answered.
Pricing, deposits, timelines, the developer, and the investment case, answered directly. For the broader picture on South Florida new construction, browse the full FAQ hub.
New Construction South Florida FAQsWhat is the construction status of 501 First Residences?
501 First Residences is complete. Construction concluded on the 40-story tower by June 2026 and units are ready for immediate occupancy.
What are the current prices at 501 First Residences?
Launch pricing started in the low $300,000s, and current listings range from about $390,000 to $995,000. Confirm today's availability with the sales team.
Who is developing 501 First Residences?
501 First Residences is developed by Aria Development Group with architecture by Revuelta Architectural International and interiors by Shim Projects.
How many residences are in 501 First Residences?
The tower holds 476 residences per the developer, with studios and one- and two-bedroom layouts of roughly 385 to 835 square feet on residential levels 3 through 37.
Can I rent out a residence at 501 First Residences?
The official project site reported no rental restrictions. Confirm current association rules in the governing documents before you commit.
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