501 First Residences
501 First Residences is a 40-story, 476-unit luxury condominium tower at 121 NE 5th Street in Downtown Miami, completed in 2026. The building was developed by Aria Development Group in partnership with AQARAT, designed by Revuelta Architecture International, with interiors by Shim Projects. Residences range from studios to one-bedroom-plus-den layouts and are delivered fully finished and furnished, with floor-to-ceiling glass and private balconies. Amenities span more than 20,000 square feet across the top floors, including a 75-foot rooftop lap pool, a HOMAGE-designed fitness center, a rooftop movie theater, co-working space, and a greenhouse lounge, and the building permits short-term and long-term rentals with no restrictions. It sits in the heart of Downtown Miami, within walking distance of Bayside Marketplace and Bayfront Park and close to the district's restaurants, shopping, and transit.
Amenities
- 75-foot resort-style rooftop lap pool
- Fitness center designed by HOMAGE
- Private rooftop movie theater
- Co-working / private workspace lounge
- Rooftop greenhouse lounge
- Outdoor game lawn
- Pet lounge
- Over 20,000 SF of amenities across the top floors
- No rental restrictions (short-term/Airbnb allowed)
The building is located in the heart of Downtown Miami, within walking distance of Bayside Marketplace and Bayfront Park, and near a concentration of restaurants, coffee shops, and retail including an Apple Store. It is close to major arteries connecting to the Miami Design District, Miami International Airport, and South Beach.
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Miami, FL 33132
Available Residences at 501 First Residences
1 Bedroom Condos · 3 units
| Unit | Asking Price | Bed(s)/Bath(s) | Living Size | Price/Sq.Ft. | Days on Market |
|---|---|---|---|---|---|
| 2611 | $598,900 | 1 / 2 | — | — | 131 |
| 2211 | $595,000 | 1 / 2 | 659 | $903 | 107 |
| 2411 | $594,900 | 1 / 2 | 597 | $996 | 101 |
Studios · 1 unit
| Unit | Asking Price | Bed(s)/Bath(s) | Living Size | Price/Sq.Ft. | Days on Market |
|---|---|---|---|---|---|
| 501B | $475,000 | 0 / 1 | — | — | 97 |
Compare every Downtown Miami building, its inventory, and area market trends in one place.
ANALYTICS
CURRENT INVENTORY
INVENTORY BY BEDROOM
- 0 Bed (1) 25%
- 1 Bed (3) 75%
INVENTORY TREND (ALL UNITS)
Market & Community Report
As of August 12, 2026, 501 First Residences carries 4 active listings at an average asking price of $566K, with an average time on market of 109 days. Closed sales over the preceding 36 months averaged — per sq ft, and 0 transactions closed in the past 12 months — implying — months of supply against the current pace of absorption.
Zip code 33132 (Miami) is home to 18,244 residents with a median age of 34.5. Per-capita income stands at $76,436; 61.5% hold a bachelor's degree or higher. 27.8% of units are owner-occupied; 27.5% of residents work from home.
Data current as of August 12, 2026. Market metrics derived from MLS closed sales; community data from U.S. Census ACS.
Frequently Asked Questions — 501 First Residences
How many condos are for sale at 501 First Residences?
As of August 12, 2026, 4 residences are actively listed for sale at 501 First Residences. Current asking prices range from $475K to $599K. Inventory updates daily from the MLS.
How much do condos at 501 First Residences cost?
Condos at 501 First Residences are currently asking from $475K to $599K. Final pricing varies by floor, line, square footage, finishes, and view.
Where is 501 First Residences located?
501 First Residences is located at 121 Ne 5, Miami, FL, 33132, in the Downtown Miami area.
What neighborhood is 501 First Residences in?
501 First Residences is in Downtown Miami, Miami. You can compare every condo building, home inventory, and price trend across Downtown Miami on its neighborhood guide.
What amenities does 501 First Residences offer?
501 First Residences amenities include 75-foot resort-style rooftop lap pool, Fitness center designed by HOMAGE, Private rooftop movie theater, Co-working / private workspace lounge, Rooftop greenhouse lounge, Outdoor game lawn, Pet lounge, Over 20,000 SF of amenities across the top floors.