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9 exhibitions within 1 mile
Art Week Score 64 · #4 in Downtown
#4 in Downtown · #56 in Miami
Nearest: Beyond Time: Antonia Eiriz, Juan Sánchez, and Pedro Vizcaíno, 0.1 mi away
For sale
59
5 pending · 30.8 mo supply
Median asking
$790K
from $469K
Median $/sqft
$1,387/sqft
$1,105/sqft sold, 12 mo
Days on market
88
94 to sell · 23 in 12 mo
The Elser, at 398 NE 5th St in Downtown Miami, is a tower of 49 floors holding 646 residences. It was completed in 2023, developed by Property Markets Group and designed by Sieger Suarez Architects.
The nearest rail station, the College/Bayside Metromover Station, is 170 m away in a straight line, and the building has a Car-Free Index of 90. The nearest Publix is 840 m away.
On flood and storm exposure, the building sits in FEMA zone X, a moderate risk area where flood insurance is not federally required but is available. It is in Miami-Dade evacuation zone B. The lowest street next to the building is 5.9 ft above the highest tide predicted for 2026 at Virginia Key. Ten active tower construction sites are within 1 km, 5 of them within 500 m, which can bring noise and traffic while it lasts.
On the 2025 tax roll, 0% of units carry a homestead exemption and 81% are owned by a company or trust. The financeability tier is good, at 55 of 100. Miami-Dade Clerk records show 29 resale deeds in the 12 months to October 21, 2026.
Live near more of Miami
What surrounds The Elser: seasonal events, annual programs and lifestyle indexes, measured from the building.
Flanigan's IndexLive now15 / 100
Nearest Flanigan's: Flanigan's Seafood Bar and Grill (Coconut Grove), 4.3 mi
#22 in Downtown · #502 in Miami
A commitment, and some of the best decisions are.
1 Flanigan's locations nearby
Publix IndexLive now
64 / 100
Nearest Publix: Publix at 3 Miami Central, 0.5 mi
#15 in Downtown · #202 in Miami
Within a mile. The city planners knew.
4 Publix stores nearby
Distances are straight-line, not walking or driving.
Getting around
Downtown is a walkable urban neighborhood. Transit, parks, dining and landmarks within reach:
MetromoverMetrorail (Government Center)Bayfront ParkBayside MarketplaceKaseya CenterMiami Riverwalk
45
/ 100
C+
own.miami Score
A data-grounded score for The Elser from live market data — value, momentum, liquidity, building health, waterfront and age. Computed, not opinion.
Value15
$1,398/sqft — vs. Downtown condos, then all of Miami
Momentum28
-6.2% $/sqft over 6 months
Liquidity21
31.3 months of supply · 93 days on market
Health79
Verified records on file — nothing adverse
Waterfront55
Not waterfront
Age84
Built 2023 — vs. Downtown buildings
own.miami Condo Index
185Above market100 = the median Miami condo building's price per sq ft; 200 = twice it.
Rank
#75 of 698 tracked Miami condos
Top 11% by price per sq ft
#4 of 28 in Downtown
Momentum
↓ Cooling
$1,398/sqft median ask
Liquidity
Slow
The stacks
17 lines · modeled from 37 salesCondos repeat vertically — each “line” is a stack of near-identical units up the tower. We reconstruct The Elser’s lines from its sale history: the floorplan, the view, and how $/sqft climbs with the floor. The best value is the -06 line.
| Line | Layout | Size | View | $/sqft | Per floor | Low→high floor | Sales |
|---|---|---|---|---|---|---|---|
| -01 | 3 bd · 3 ba | 1,150 sqft | BayWaterfront | $1,174/sqft | +$5 | $1,111/sqft → $1,262/sqft | 0 |
| -03 | 1 bd · 1 ba | 439 sqft | BayWaterfront | $1,093/sqft | +$2 | $1,094/sqft → $1,133/sqft | 5 |
| -04 | 1 bd · 1 ba | 443 sqft | Ocean View | $1,354/sqft | — | — | 1 |
| -05 | 1 bd · 1 ba | 442 sqft | Skyline | $1,312/sqft | $-5 | $1,313/sqft → $1,202/sqft | 5 |
| -06Best value | 1 bd · 1 ba | 443 sqft | BayWaterfront | $1,072/sqft | +$22 | $969/sqft → $1,435/sqft | 3 |
| -07 | 1 bd · 1 ba | 442 sqft | BayWaterfront | $1,301/sqft | $-8 | $1,568/sqft → $1,321/sqft | 4 |
| -08 | Studio · 1 ba | 430 sqft | BayWaterfront | $1,505/sqft | +$28 | $1,218/sqft → $1,689/sqft | 1 |
| -09 | 2 bd · 2 ba | 983 sqft | BayWaterfront | $1,170/sqft | +$10 | $1,186/sqft → $1,413/sqft | 3 |
| -10 | 1 bd · 1 ba | 509 sqft | Ocean ViewWaterfront | $1,709/sqft | $-7 | $1,888/sqft → $1,708/sqft | 1 |
| -11 | 2 bd · 2 ba | 818 sqft | BayWaterfront | $1,618/sqft | $-1 | $1,651/sqft → $1,636/sqft | 1 |
| -12 | Studio · 1 ba | 341 sqft | Bay | $1,528/sqft | +$5 | $1,517/sqft → $1,696/sqft | 2 |
| -13 | Studio · 1 ba | 357 sqft | BayWaterfront | $1,625/sqft | $-17 | $1,732/sqft → $1,440/sqft | 3 |
| -15 | 1 bd · 1 ba | 560 sqft | BayWaterfront | $1,188/sqft | +$7 | $1,155/sqft → $1,350/sqft | 1 |
| -16 | Studio · 1 ba | 362 sqft | Bay | $1,160/sqft | +$7 | $1,192/sqft → $1,423/sqft | 6 |
| -17 | 2 bd · 3 ba | 1,043 sqft | BayWaterfront | $1,154/sqft | $-1 | $1,188/sqft → $1,145/sqft | 0 |
| -18 | 3 bd · 3 ba | 1,135 sqft | BayWaterfront | $1,202/sqft | $-2 | $1,230/sqft → $1,171/sqft | 1 |
| -19 | 1 bd · 1 ba | 626 sqft | SkylineWaterfront | $1,358/sqft | +$17 | $1,259/sqft → $1,779/sqft | 0 |
Modeled from The Elser’s past listings and sales — a guide to the building’s layouts and floor premiums, not an official floor plan. “Per floor” is the average $/sqft change per floor up the stack.
What’s a unit here worth?
Pick a line and a floor — we estimate the value from The Elser’s own sales history.
Estimated value
$431,000
$336,000–$526,000 · $972/sqft
Moderate confidence · 3 sales
Estimate only — not an appraisal. It reflects the line and floor, not a specific unit’s condition, renovations or view obstructions.
Want the inside track on The Elser?
Get new listings here before the portals, and a straight answer from someone who knows the building.
Inventory
$550,000$982/sqft
1 bd · 1 ba · 560 sqft
398 NE 5th St #1815
Listing courtesy of Compass Florida, LLC, Jorge Lopez (Lic. #3247936) · MLS #A12115063
$1,550,000$1,348/sqft
3 bd · 3 ba · 1,150 sqft
398 NE 5th St #4001
Listing courtesy of Urban Development & Investments LLC, Vanesa Seijas (Lic. #3462688) · MLS #A12114472
$1,499,000$1,330/sqft
3 bd · 3 ba · 1,127 sqft
398 NE 5th St #1518
Airbnb-ready
Listing courtesy of EXP Realty LLC, Annie Montiel (Lic. #3083914) · MLS #A12112486
$890,000$1,338/sqft
1 bd · 2 ba · 665 sqft
398 NE 5th St #2314
Airbnb-ready
Listing courtesy of Avanti Way Brickell, Henry Arevalo Maris (Lic. #3328960) · MLS #A12112392
$545,000$1,598/sqft
0 bd · 1 ba · 341 sqft
398 NE 5th St #1712
Hotel rental program
Listing courtesy of Wright Collective, Benjamin Wright (Lic. #3474246) · MLS #A12112335
$570,000$1,326/sqft
0 bd · 1 ba · 430 sqft
398 NE 5th St #4308
Short-term leases OK
Listing courtesy of Avanti Way Brickell, Henry Arevalo Maris (Lic. #3328960) · MLS #A12111009
$1,200,000$1,154/sqft
3 bd · 3 ba · 1,040 sqft
398 NE 5th St #1617
Airbnb-readyHotel rental program
Listing courtesy of EXP Realty LLC, Martha Ledesma Guevara (Lic. #3393713) · MLS #A12109670
$850,000$1,358/sqft
1 bd · 1 ba · 626 sqft
398 NE 5th St #2219
Rental income in place
Listing courtesy of Piquet Realty, Gabriel Miranda (Lic. #3256732) · MLS #A12105265
$724,000$1,684/sqft
0 bd · 1 ba · 430 sqft
398 NE 5th St #3508
Rental income in place
Listing courtesy of Piquet Realty, Gabriel Miranda (Lic. #3256732) · MLS #A12105255
$1,300,000$1,130/sqft
3 bd · 3 ba · 1,150 sqft
#4401
Short-term leases OK
Listing courtesy of Douglas Elliman, Michael Mann (Lic. #3200012) · MLS #A12102277
$1,299,000$1,575/sqft
2 bd · 2 ba · 825 sqft
398 NE 5th St #1711
Condo-hotel
Listing courtesy of Coldwell Banker Realty, Attila Yildiz (Lic. #3276282) · MLS #A12102588
$499,000$1,129/sqft
0 bd · 1 ba · 442 sqft
398 NE 5th St #2005
Short-term leases OK
Listing courtesy of EXP Realty LLC, Rocio Bonilla (Lic. #3369746) · MLS #A12106305
Sold $/sqft trend
3-month rolling median of closed sales in The Elser; bars are closings per month.
Location
Nearby buildings within half a mile.
Building facts
- Address
- 398 NE 5th St
- Year built
- 2023
- Floors
- 49
- Residences
- 646
- Architect
- Sieger Suarez Architects
- Waterfront
- No
Developed by
Property Markets Group53
B− · Developer Score
- Ranks #6 of 6 scored Property Markets Group buildings
- Asking $1,387/sqft here vs $1,430/sqft across the developer's portfolio
- 53% of the developer's portfolio has no adverse verified record
- All 9 buildings by this developer
Amenities
- · Pool
- · Spa
- · Fitness center
- · Valet
- · Concierge
- · Sauna
- · Business center
- · Dining
- · Security
- · Yoga studio
- · Theater
- · Beach club
Building rules
- Leasing
- Short-term rentals (Airbnb-style) permitted.
- Parking
- valet parking
Special assessments & recertification outlook
ClearPublic records checked Oct 26, 2026 (Miami-Dade Clerk, civil docket, Florida DBPR).
Verified records
- PositiveBank financingOct 31, 2026
Regulated lenders recorded 7 purchase or refinance loans on this building in the last 12 months, financing 19% of its recorded sales, and accepted a down payment as low as 25%. A bank writing a condominium loan has just checked the building's reserves, insurance, litigation and owner-occupancy against its own standards — verified due diligence, read from the public record. Financeability Index 55/100.
Source: Miami-Dade Clerk official records
- Built 2023 — its first 25-year structural milestone inspection is due around 2048
Estimated from The Elser’s age and signals in active listings — not an official inspection or reserve report. Always verify the building’s milestone-inspection status and reserves with the association before buying.
Financeability
What the banks say about The Elser: recorded purchase mortgages, the down payments they accepted, and the programmes in use.
Regulated lenders are writing purchase loans here at ordinary down payments — their due diligence on reserves, insurance and litigation, verified by the public record.
- Mortgages recorded, 12 months
- 13
- 7 from banks and credit unions · purchases and refinances
- Sales bank-financed
- 19%
- 27 recorded sales, 12 months · All purchases: 26 resales and 1 developer closings
- Average down payment
- 36.8%
- Lowest down payment accepted
- 25%
Resales and developer closings
| Sales, 12 months | Bank-financed | Average down | Lowest down | |
|---|---|---|---|---|
| Resales | 26 | 15% | 33.4% | 25% |
| Developer closings | 1 | — | 38.1% | 25% |
A new building's first sales are developer closings: buyers closing on units they bought from the developer. They are real purchases, but not resale activity, so they are counted apart. Down payments cover 24 months and need 3 or more loans.
Loan programmes, 24 months:Conventional 6Private lenders 6Other 1
High confidence · As of 2026-10-31
Source: Miami-Dade County official records and the FHA/VA approval lists. Aggregates only; individual instruments are never shown. Compare with Downtown
Flooding and storm surge
Public flood data at this building’s location, read Oct 22, 2026.
- FEMA flood zone
- Zone X: moderate-risk area. FEMA maps a yearly chance of flooding between 1% and 0.2% here.
- Hurricane evacuation zone
- Zone B
- Miami-Dade storm surge planning zones run from A (called first) to E. The county decides which zones evacuate in a storm.
- Ground at the building
- 7.5 ft
- Lowest nearby street
- 6.9 ft
- Highest predicted tide, 2026
- 1.0 ft
Elevations in feet above the NAVD88 datum.
The lowest street next to this building sits 5.9 ft above this year’s highest predicted tide (Oct 27, 2026).
Estimated from public data, not a flood determination. Check the FEMA flood map and an elevation certificate for this building.
Legal & Regulatory
No material litigation foundCivil court cases involving the condominium association, classified by what they are about. Routine collections against individual owners are counted separately and do not affect the building’s standing.
- Active material lawsuits
- 0
- Owner / association disputes
- 0
- Routine collection cases
- 1
- DBPR complaints
- 0
- Open DBPR complaints
- 0
DBPR registration PR77279 · Approved,Delinquent. Public complaints on record with the Florida Division of Condominiums; investigations are confidential and not counted.
Court records are matched to the association by name and summarized by us; a case is a claim, not a finding. Ask the association for its litigation disclosure before buying.
Frequently asked
How much do condos at The Elser cost?+
There are 59 condos for sale at The Elser, from $469,000, with a median asking price of $790,000 ($1,387/sqft).
Can I rent out a unit at The Elser?+
Short-term rentals (Airbnb-style) permitted.
How much are the HOA fees at The Elser?+
HOA / maintenance fees at The Elser run around $700 per month among units currently for sale; the exact fee varies by unit size and line, so confirm the current amount with the listing or the condo association.
When was The Elser built?+
The Elser was built in 2023, 49 stories, 646 residences.
Who developed The Elser?+
The Elser was developed by Property Markets Group (PMG) and Greybrook and designed by Sieger Suarez Architects. Property Markets Group's own.miami Developer Score is B− across 9 buildings.
Stay ahead
Interested in The Elser?
We track every listing here, every day. Get the next one before it hits the portals — and a straight answer from someone who knows the building.
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