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Active Condominium
$589,000
121 NE 5 ST # 2908, Miami FL 33132, Miami, FL 33132
1 Beds
Bedrooms
1 Baths
Bathrooms
606 sqft
Living Area
2025
Year Built

About This Property

This newly completed 29th-floor residence at 501 First offers an exceptional turnkey opportunity with high-demand skyline views, no rental restrictions, and a prime location in the heart of Miami’s rapidly expanding Worldcenter district. Unit 2908 represents a high-yield asset in one of the city's most desirable new developments, perfectly positioned for both short-term rental income and long-term capital appreciation. This 1-bedroom, 1-bathroom unit featuring a sleek, modern floorplan designed for maximum efficiency. Located on the 29th floor, the unit offers 535 square feet of interior living area complemented by an expansive 86-square-foot balcony. The deep terrace provides north-facing views of the evolving urban core, overlooking iconic landmarks like the Freedom Tower and the Kaseya Center. Situated at the epicenter of Miami's multi-billion dollar Worldcenter project, the property offers unparalleled connectivity. Directly adjacent to the Brightline high-speed rail station, offering a critical transit link for travelers and business professionals alike. Steps away from world-class dining, the Miami Heat arena, and the upcoming world-class shopping promenades. The building’s policy allowing for unrestricted short-term rentals makes this an ideal candidate for high-frequency vacation rental platforms.

Property Details

Property Type Condominium
Days on Market 19 days
HOA Fee $877/mo
Parking — spaces
Pool No
Waterfront No
Community 501 FIRST RESIDENCES
Pets Allowed No

Assigned Schools

Verify with District ↗
School Grades Address Report Card
Douglass, Frederick Elementary
Elementary 305-371-4687
K-5
314 NW 12 St., Miami, FL 33136
de Diego, Jose Middle
Middle 305-573-7229
6-8
3100 NW 5 Ave., Miami, FL 33127
Washington, Booker T. Senior High
High School 305-324-8900
9-12
1200 NW 6th Ave., Miami, FL 33136

Source: County GIS attendance zone boundaries. Assignments are based on property location and may change. Use Miami-Dade County Public Schools's official locator to confirm.

Location

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Comparable Sales

10 closed sales · 1-mile radius · last 12 months · Miami

Est. Market Value
$428,779
Range: $420,000 – $475,000
Listed 37.4% above estimated market value ($160,221 over comps). Buyers should negotiate.
Address
Closed
Price
Beds
Baths
Sqft
vs Ask
398 NE 5th St # 4507, Miami FL 33132
MAP OF MIAMI DADE CO. FL. · 2022
$520,000
Apr 23, 2026
$560,000
$1,176/sf
1
1
442
-7.1%
398 NE 5th St # 1905, Miami FL 33132
MAP OF MIAMI DADE CO. FL. · 2022
$420,000
Apr 20, 2026
$450,000
$950/sf
1
1
442
-6.7%
398 NE 5th St # 3406, Miami FL 33132
THE ELSER · 2022
$450,000
Jan 21, 2026
$499,000
$1,016/sf
1
1
443
-9.8%
398 NE 5th Street # 2506, Miami FL 33132
The Elser · 2022
$475,000
Dec 12, 2025
$489,000
$1,072/sf
1
1
443
-2.9%
398 NE 5th St # 1803, Miami FL 33132
MAP OF MIAMI DADE CO. FL. · 2022
$435,000
Dec 11, 2025
$500,000
$991/sf
1
1
439
-13%
398 NE 5 ST 1906, Miami FL 33132
County records · 2022
$475,000
Dec 18, 2025
$1,072/sf
1
1
443
398 NE 5 ST 2506, Miami FL 33132
County records · 2022
$475,000
Dec 12, 2025
$1,072/sf
1
1
443
151 SE 1st St # 1706, Miami FL 33131
CENTRO CONDO · 2016
$305,000
Oct 13, 2025
$330,000
$709/sf
1
1
430
-7.6%
398 NE 5th St # 3707, Miami FL 33132
MAP OF MIAMI DADE CO. FL. · 2022
$460,000
Jul 24, 2025
$499,000
$1,041/sf
1
1
442
-7.8%
227 NE 2nd St # 2601, Miami FL 33132
MAP OF MIAMI DADE CO. FL.,Yotel Pad Condo · 2022
$385,000
Apr 15, 2026
$410,000
$846/sf
1
1
455
-6.1%
$442,500
Median Sale
$431,250
Trimmed Avg
$975/sf
Avg $/sqft
8 sales
Comps Found

Comp data from Miami MLS. Estimate is automated and does not account for condition, upgrades, or lot features. For a full CMA, contact Dayron Crespo, Broker.

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