Own Downtown

The Elser

398 NE 5th St · Built 2023 · 49 floors · 646 residences

54 for sale
For sale
54
2 pending · 28.2 mo supply
Median asking
$850K
from $489K
Median $/sqft
$1,446/sqft
$1,105/sqft sold, 12 mo
Days on market
180
105 to sell · 23 in 12 mo
The Elser
Listing photo · courtesy of Linart Realty, LLC · MLS #R11151415

Located in the heart of Downtown Miami, The Elser offers a resort-inspired lifestyle with expansive views of Biscayne Bay and the Miami skyline. The building features a variety of residences designed with modern finishes and floor-to-ceiling windows that capture the city's energy.

Residents have access to a wide range of amenities, including a large rooftop pool deck, a multi-level fitness center, and a co-working lab. The property also provides concierge services, valet parking, and on-site dining and lounge areas. The building is situated near major landmarks such as Bayfront Park, Bayside Marketplace, and the Kaseya Center.

Live near more of Miami

What surrounds The Elser: seasonal events, annual programs and lifestyle indexes, measured from the building.

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
55
/ 100
B
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.

Value14
$1,446/sqft — vs. Miami condos
Momentum67
+6.4% $/sqft over 6 months
Liquidity12
28.2 months of supply · 180 days on market
Health90
No verified records yet — listing signals only
Waterfront90
Waterfront building
Age86
Built 2023
own.miami Condo Index
141100 = the median Miami condo, by price and liquidity.
Rank
#93 of 597 tracked Miami condos
Top 16% by price & liquidity
#3 of 25 in Downtown
Momentum
↑ Rising
$1,446/sqft median ask
Liquidity
Slow
See the full Condo Index →

The stacks

16 lines · modeled from 33 sales

Condos 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.

LineLayoutSizeView$/sqftSales
-013 bd · 3 ba1,150 sqftBay$1,217/sqft0
-031 bd · 1 ba439 sqftBayWaterfront$1,093/sqft5
-041 bd · 1 ba443 sqftOcean View$1,354/sqft1
-05Studio · 1 ba442 sqftSkyline$1,373/sqft4
-06Best value1 bd · 1 ba443 sqftBayWaterfront$1,072/sqft3
-071 bd · 1 ba442 sqftBayWaterfront$1,310/sqft4
-092 bd · 2 ba983 sqftBayWaterfront$1,170/sqft3
-101 bd · 1 ba509 sqftOcean ViewWaterfront$1,709/sqft1
-112 bd · 2 ba818 sqftBayWaterfront$1,686/sqft1
-12Studio · 1 ba341 sqftBayWaterfront$1,522/sqft1
-13Studio · 1 ba357 sqftBayWaterfront$1,681/sqft2
-151 bd · 1 ba560 sqftBayWaterfront$1,321/sqft1
-16Studio · 1 ba362 sqftBayWaterfront$1,167/sqft5
-172 bd · 3 ba1,043 sqftBayWaterfront$1,188/sqft0
-183 bd · 3 ba1,135 sqftBayWaterfront$1,180/sqft1
-191 bd · 1 ba626 sqftSkylineWaterfront$1,422/sqft0

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
$475,000
$451,000$499,000 · $1,072/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

398 NE 5th St #1902
New
$489,000$1,137/sqft
0 bd · 1 ba · 430 sqft
398 NE 5th St #1902
Short-term leases OK
Listing courtesy of Pink Miami Real Estate — Zachary Freedman (Lic. #3545090) · MLS #A12086164
398 NE 5TH #4118
$1,299,000$1,144/sqft
3 bd · 3 ba · 1,135 sqft
398 NE 5TH #4118
Short-term leases OK
Listing courtesy of EXP Realty LLC — Juan Castro (Lic. #3236180) · MLS #A12077007
398 NE 5TH Street #1515
$619,900$1,107/sqft
1 bd · 1 ba · 560 sqft
398 NE 5TH Street #1515
Listing courtesy of Compass Florida, LLC — Melissa S Hoff-Roth (Lic. #3033142) · MLS #B26067773
398 NE 5th St #3104
$579,000$1,307/sqft
1 bd · 1 ba · 443 sqft
398 NE 5th St #3104
Listing courtesy of EXP Realty LLC — Edgardo Boscan Perez (Lic. #3476279) · MLS #A12077875
398 NE 5th St #1911
$1,300,000$1,605/sqft
2 bd · 2 ba · 810 sqft
398 NE 5th St #1911
Short-term leases OK
Listing courtesy of Deal Flow Realty, LLC. — Patricia Villati (Lic. #3244579) · MLS #A12071562
398 NE 5th St #2118
$1,225,000$1,079/sqft
3 bd · 3 ba · 1,135 sqft
398 NE 5th St #2118
Listing courtesy of Miami Property Shop — Maxine Siegler (Lic. #3163397) · MLS #A12071480
398 NE 5th St #2203
$650,000$1,481/sqft
1 bd · 1 ba · 439 sqft
398 NE 5th St #2203
Short-term leases OK
Listing courtesy of Home-C International Realty LLC — Carroll Cortes (Lic. #3012553) · MLS #A12068715
 #3305
$599,999$1,357/sqft
1 bd · 1 ba · 442 sqft
#3305
Hotel rental program
Listing courtesy of MRI Realty Group — Antonio Mauri Aleman (Lic. #3643386) · MLS #A12067653
398 NE 5th St #1615
$790,000$1,411/sqft
1 bd · 1 ba · 560 sqft
398 NE 5th St #1615
Short-term leases OK
Listing courtesy of MRI Realty Group — Hans Baumgartner Perez (Lic. #3544032) · MLS #A12061775
398 NE 5th St #3013
$600,000$1,681/sqft
0 bd · 1 ba · 357 sqft
398 NE 5th St #3013
Listing courtesy of Compass Florida, LLC — Milton Andrade (Lic. #3031564) · MLS #A12054699
398 NE 5th St #3711
$1,379,000$1,686/sqft
2 bd · 2 ba · 818 sqft
398 NE 5th St #3711
Airbnb-readyShort-term leases OK
Listing courtesy of Xcellence — Carlo Ortiz (Lic. #3110057) · MLS #A12057376
398 NE 5th St #2007
$579,000$1,310/sqft
0 bd · 1 ba · 442 sqft
398 NE 5th St #2007
Condo-hotelShort-term leases OK
Listing courtesy of EXP Realty LLC — Alvaro Del Busto (Lic. #3352528) · MLS #A12055966
See all 54

Sold $/sqft trend

3-month rolling median of closed sales in The Elser; bars are closings per month.

$880$1287$1693Oct 2024Feb 2025Jul 2025Nov 2025Mar 2026Jul 2026

Location

Nearby buildings within half a mile.

Building facts

Address
398 NE 5th St
Year built
2023
Floors
49
Residences
646
Developer
Property Markets Group (PMG) and Greybrook
Architect
Sieger Suarez Architects
Waterfront
Yes

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

Clear
  • 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.

Frequently asked

How much do condos at The Elser cost?+

There are 54 condos for sale at The Elser, from $489,000, with a median asking price of $850,000 ($1,446/sqft).

Is The Elser a good time to buy?+

The Elser currently has about 28.2 months of supply — a buyer-friendly pace with more negotiating room.

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 $723 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.

Is The Elser a waterfront building?+

Yes — The Elser is a waterfront building (Downtown).

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.

Stay ahead
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