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121 NE 5 ST #2908

$485,000

1 bd · 1 ba · 535 sqft · 501 First Residences · Downtown

15% below 501 First Residences’s asking median $/sqftPrice cut -18% · was $589,000
Negotiation read: On the market 176 days — longer than this building’s typical ~96 · Already reduced 18% from the original ask.
Status
For sale
Price per sqft
$907/sqft
HOA
$877/mo
Year built
2025
Floor
29
Parking
0
Furnished
Furnished
View
Other View, Skyline, Water View
Waterfront
No
Days on market
176
Listed
May 8, 2026
MLS #
A12015913

Highlights from the listing

Pulled from the MLS description. Verify with the listing agent.

Tenant occupiedCurrent rent: $2,500 · Lease ends: 6/14/2027

“RENTED FOR $2500 UNTIL 6/14/2027”

Short-term leases OK

“The building’s policy allowing for unrestricted short-term rentals”

About this unit

This newly completed 29th-floor residence at 501 First features one bedroom, one bathroom, 535 square feet of interior living area, and an 86-square-foot balcony with north-facing views of the urban core, including the Freedom Tower and Kaseya Center. The modern floorplan is designed for efficiency. The building is adjacent to the Brightline station and near dining, the Miami Heat arena, and shopping promenades in the Worldcenter district. The unit is rented for $2,500 until June 14, 2027, and the buyer must assume the current lease

501 First Residences
501 First Residences
121 NE 5th St · 2025 · 40 floors
46 for salefrom $345K$1,067/sqft

Listing courtesy of Cervera Real Estate Inc., Patricio Orloff (Lic. #0628501) · MLS #A12015913 · Updated Oct 31, 2026

Neighborhood & lifestyle

What's around this home in Downtown — transit, parks, dining and landmarks within reach.

Nearby & transit
MetromoverMetrorail (Government Center)Bayfront ParkBayside MarketplaceKaseya CenterMiami Riverwalk
Explore DowntownDowntown market report

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