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Property photos —
Price reducedMLS listing sourceMIAMI REALTORS® MLS
Price reducedMLS® A12054926
$499,000

↓ Price reduced $89,000 on Sep 16, 2026

121 NE 5th Street 3405, Miami, FL 33132

Beds
1
Baths
1
Sqft
489
Est. payment$3,641/mo
Home type
Condominium
Year built
2025
Lot size
—
Price / sqft
$1,020
HOA
$802/mo
Community
501 First Residence

Property description

Experience elevated living in this spectacular high-floor residence at 501 First Residences, located in the heart of Downtown Miami. This modern unit features breathtaking skyline views, floor-to-ceiling impact windows, high ceilings, elegant finishes, and an open-concept layout designed for today's lifestyle. The contemporary kitchen offers premium cabinetry, quartz countertops, and stainless steel appliances, seamlessly connecting to the spacious living and dining areas.Enjoy world-class amenities, including a resort-style rooftop pool, state-of-the-art fitness center, yoga studio, co-working spaces, social lounges, game room, concierge, valet, and 24-hour security. Perfectly positioned just steps from Miami Worldcenter, Brightline, Kaseya Center, Bayside Marketplace, Museum Park, top restaurants, shopping, nightlife, and Miami's beautiful waterfront.One of the few luxury buildings allowing short-term rentals, this residence presents an exceptional opportunity for investors, seasonal owners, or anyone seeking maximum flexibility and income potential. Whether you're looking for a primary residence, vacation home, or high-performing investment property, this is your chance to own in one of Miami's fastest-growing and most exciting neighborhoods.

Listing activity

Days on market
62
Listed
Jul 16, 2026
MLS listing updated
Sep 16, 2026
Feed last checked
10 minutes ago

Listed by Ekaterina D Brosda · Brosda & Bentley Realtors, LLC

Map

Map location is based on MLS-supplied coordinates. Verify the location before relying on it.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms
1
Bathrooms
1
Bathrooms (decimal)
1
Full bathrooms
1
Half bathrooms
0

Rooms & features

Rooms
0
Interior features
Other
Flooring
Other
Appliances
Dishwasher, Disposal

Heating & cooling

Heating
Central
Cooling
Other
Property

Parking

Garage spaces
1
Garage
Yes
Covered spaces
1
Parking features
Valet
Attached garage
No

Exterior

Stories
40
Building area
489 sqft
Exterior features
None
View
Bay
Waterfront property
No
Construction

Type & style

Home type
Condominium
Year built
2025
New construction
Yes

Materials

Property condition
New Construction
Utilities & green energy

Not reported by the listing source.

Community & HOA

Community

Subdivision
501 First Residence
MLS area
2410
Security
Elevator Secure, Key Card Entry, Lobby - Attended
Pets allowed
Yes
55+ community
No

Association

Has association
Yes
Association fee
$802 monthly
Estimated monthly dues
$802
Amenities
Maintenance, Fitness Center
Lease details

Not reported by the listing source.

Location

Area details

City
Miami
County
Miami-Dade
ZIP code
33132
Manufactured home details

Not reported by the listing source.

Financial & listing details

Listing

MLS number
A12054926
Possession
Close Of Escrow
Original list price
$588,000
Parcel number
0141010082010
Annual property tax
$0
Tax year
2026
Tax legal description
501 First Residence
Additional MLS details

Reported by the listing source

Association Amenities
Maintenance, Fitness Center
Association Fee Frequency
Monthly
Association
Yes
Bathrooms Total Decimal
1
Bathrooms Total Integer
1
Building Area Total
489
County Or Parish
Miami-Dade
Days On Market
62
Elementary School
Frederick Douglass
High School
Booker T. Washington
List Price
499000
Listing Contract Date
2026-07-16
Living Area
489
MLSArea Major
2410
Middle Or Junior School
Jose De Diego
Mls Status
Active
On Market Date
2026-07-16
Photos Count
51
Postal Code
33132
Price Change Timestamp
2026-09-16T23:08:22Z
Property Sub Type
Condominium
Property Type
Residential
Rooms Total
0
Security Features
Elevator Secure, Key Card Entry, Lobby - Attended
Senior Community
No
Standard Status
Active
State Or Province
FL
Status Change Timestamp
2026-07-16T04:00:00Z
Stories Total
40
Subdivision Name
501 First Residence
Tax Annual Amount
0
Bathrooms Full
1
Bedrooms Total
1
Waterfront
No
Bathrooms Half
0
Financial Information: Estimated Monthly Assoc Recurring Fee
802

Market value

Automated estimate—No licensed valuation source connected
Estimated sales range—Ask Karim for a local market analysis
Estimated rent—No licensed rental valuation source connected

Price history

DateEventPrice
Jul 16, 2026ListedMIAMI REALTORS® MLS$588,000$1,202/sqft
Sep 16, 2026Price reducedMIAMI REALTORS® MLS$499,000$1,020/sqft

Public tax history

YearProperty taxesAssessment
2026$0—

Payment calculator

Estimated monthly payment$3,641/moIllustrative estimate, not a loan offer.
Principal & interest
$2,589
Property taxes
$0
Insurance
$250
Association dues
$802

Live national rate context is displayed below through Mortgage News Daily’s official widget. The calculator rate remains a separate assumption until licensed machine-readable access is connected. This is not a loan offer.

Neighborhood

Area

501 First Residence

Miami · Miami-Dade County · 33132

Climate risk

—

No licensed climate-risk source is connected.

Nearby schools

Frederick DouglassElementary
—
Jose De DiegoMiddle
—
Booker T. WashingtonHigh
—
School names and districts are MLS-reported when available. Verify attendance boundaries with the school district. Ratings require a licensed ratings provider.

Nearby homes

12 homes

Similar homes

12 homes
MLS listing source

MIAMI REALTORS® MLS · Listing courtesy of Brosda & Bentley Realtors, LLC. All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2026 BeachesMLS, Inc. IDX information is provided exclusively for consumers’ personal, non-commercial use and may be used only to identify prospective properties they may be interested in purchasing or leasing. Terms of use · Equal Housing Opportunity.