Building facts
- Address
- 227 NE 2nd Street
- Neighborhood
- Downtown Miami
- Year built
- 2022
- Floors
- 31
- Status
- Completed
- Pricing
- Starting at $369,000
Verified 24 August 2026Miami-Dade County Property Appraiser1 source
YotelPAD Miami — photography to follow
Building facts
- Address
- 227 NE 2nd Street
- Neighborhood
- Miami
- Year built
- 2022
- Floors
- 31
- Residences
- 233
- Status
- Delivered — completed 2022
Key Takeaways
- Every home here is recorded as an ordinary residential condominium — all 231 saleable units carry RESIDENTIAL : CONDOMINIUM. Not one folio in this declaration is classified as lodging.
- The building sold out in a single spring — 239 of the 312 qualified sales on record closed in 2022, many of them in batches — 13 homes on 12 April, 12 on 11 April, 11 on 28 March.
- Buyers from that sell-out are, on the whole, ahead — every repeated floorplate resold above its 2022 price. The 386 sq ft plan went from $736 per foot at sell-out to $933 in 2025; the 647 sq ft plan from $694 to $912.
- But the last two years have softened — the 446 sq ft plan peaked at $874 per foot in 2024 and sits at $774; the 521 sq ft plan went $864 to $727. The direction is probably real; the magnitude rests on few sales.
- This is the most liquid building in this section — 73 qualified sales across four years against 231 homes — about one home in 13 a year. Several buildings on the condo-hotel list trade at a quarter of that rate.
- One 2026 sale sits at less than half the building’s band — $198,300 on a 515 sq ft home, or $385 per foot, against a four-year band of $385 to $1,043. It is flagged qualified but I would not treat it as a comparable, and I explain why below.
YotelPAD Miami, by the numbers
Starting at $369,000. Source: the building record on this site.
227 NE 2nd Street, Miami, Florida 33132 | Neighborhood: Downtown Miami
This page previously told you that YotelPAD has no rental restrictions and that you can rent a unit daily. I have removed that, because it is not something I can support from the public record, and it is exactly the kind of claim a buyer relies on and then discovers is someone else’s to decide. What follows is what the county actually holds.
What the county records at 227 NE 2nd Street
The Miami-Dade County Property Appraiser holds 233 folios at this address. 232 sit in one declaration, 227 NE 2ND STREET CONDO; the 233rd belongs to a neighbouring plat and is the hotel parcel itself, which is not part of the residential condominium and which I have excluded. Of the 232, one is the association’s common-areas folio, leaving 231 saleable homes. The declaration’s common-element shares close complete once two plain errors in the county roll are set aside.
All 231 of those homes are classified RESIDENTIAL — TOTAL VALUE : CONDOMINIUM — RESIDENTIAL. Not one folio in the declaration carries a lodging code. That is worth stating plainly on a page in a condo-hotel section, because the building is marketed on the strength of the hotel brand attached to it.
The homes are small and highly standardised: 386 to 647 square feet, median 515. Seven plans account for almost the whole building — 446 sq ft (32 units), then 386, 393, 515, 516, 521 and 647 sq ft at 17 units each. The mix is 98 studios, 116 one-bedrooms and 17 two-bedrooms.
For 2026 the county assesses the condominium at $73,169,000, a median of $302,296 per home across a narrow range of $275,439 to $474,190. That narrowness is itself informative — there are no outsized penthouses here skewing the numbers.
What about the “no rental restrictions” claim?
I want to deal with this directly, because it is the reason most people land on a page like this.
A county use code decides nothing about short-term rental in either direction. A lodging classification grants nobody a right to rent, and a residential classification establishes nothing against it. I have measured this both ways this year: one Brickell building is classified lodging top to bottom, and another was financed explicitly as short-term-rental housing, delivered furnished and professionally managed — and every one of its 343 homes is recorded as ordinary residential condominium.
What actually decides the question is three things together: Florida’s state preemption of vacation-rental regulation, the City of Miami’s zoning and licensing rules for the specific address, and the condominium declaration and the association’s rules, which can be amended after you buy. None of the three is in the property record, and none of them is something a listing page should be answering for you.
So my honest position is this: the building was designed and sold around flexible occupancy, and that is a real part of what it is. But get the three-layer question answered in writing by your own lawyer before you rely on rental income, not from any marketing page — including this one.
The 2022 sell-out, and what happened to those buyers
The record holds 312 qualified transactions, and 239 of them closed in 2022 — the original sell-out, delivered in batches through that spring: 13 homes on 12 April, 12 on 11 April, 11 on 28 March, nine on 4 April. Everything since is resale.
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 26 | $407,500 | $912 |
| 2024 | 13 | $420,000 | $874 |
| 2025 | 28 | $400,000 | $784 |
| 2026 to date | 6 | $375,000 | $811 |
Because the building is so standardised, the controlled test is unusually clean here. Holding each floorplate constant against its own 2022 sell-out price:
| Plan | 2022 sell-out | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 386 sq ft | $736/sf | $984 | $920 | $933 |
| 446 sq ft | $704/sf | $865 | $874 | $774 |
| 515 sq ft | $722/sf | $913 | $777 | — |
| 516 sq ft | $723/sf | $930 | — | $780 |
| 521 sq ft | $714/sf | $902 | $864 | $727 |
| 647 sq ft | $694/sf | $881 | $889 | $912 |
Every one of those plans has resold above its sell-out price. That is a genuinely good outcome for the 2022 cohort and it is not something I can say about most buildings in this section. But read the rows across, not just the ends: five of the six peaked in 2023 or 2024 and have come off since. The 446 sq ft plan is down 11.4% from its 2024 high and the 521 sq ft plan down 15.9%.
One sale needs flagging rather than averaging. On 17 April 2026 a 515 sq ft home conveyed for $198,300 — $385 per square foot, against a four-year band of $385 to $1,043 and a median of $874. The county flags it qualified, but a price at 44% of the building’s median is not a comparable for your apartment and I would want to see the deed before treating it as one. It is in the 2026 row above; with six sales in the year, it pulls that row down.
Who this building suits, and who it does not
This is the most liquid building in this section by a distance — 73 qualified sales in four years against 231 homes, about one in 13 a year. If the ability to sell matters to you, that is a real advantage over the alternatives on this list, several of which trade four or five times a year.
It suits a buyer who wants a small, new, standardised downtown apartment at a price around $375,000–$420,000, and who is comfortable that the flexible-occupancy proposition depends on rules that are not in their control. It suits you badly if the entire investment case rests on nightly rental income, because that case is not established by anything on this page.
If you are selling here, the standardisation cuts both ways. A buyer can see exactly what your floorplate has done, because sixteen other people own the identical apartment. Price against your own plan’s recent sales rather than the building median, and if you are on the 386 or 647 sq ft plan, say so — those two are the strongest performers in the building.
YotelPAD Miami — Frequently Asked Questions
Can I rent a YotelPAD unit on Airbnb or nightly?
The public record cannot answer that, and any page that answers it confidently is overreaching. Three things decide it together: Florida’s state preemption of vacation-rental regulation, the City of Miami zoning and licensing rules for this address, and the condominium declaration and association rules, which can be amended after you buy. Get all three confirmed in writing by your own lawyer before you rely on rental income.
Is YotelPAD classified as a hotel by the county?
No. All 231 saleable homes in the declaration are recorded as ordinary residential condominium. The hotel parcel itself is a separate folio on a neighbouring plat and is not part of this condominium. The brand on the building and the classification in the record are different things.
What do units at YotelPAD sell for?
Across six qualified sales in 2026 to date the median paid is $375,000, at a median $811 per square foot. In 2023 the figures were $407,500 and $912. These are recorded deeds, not asking prices.
Did buyers who bought at the 2022 launch make money?
On the whole yes. Every one of the six repeated floorplates has resold above its 2022 sell-out price — the 386 sq ft plan from $736 to $933 per foot, the 647 sq ft plan from $694 to $912. But five of the six peaked in 2023 or 2024 and have softened since, so the answer depends heavily on when you sold.
How big are the apartments?
From 386 to 647 square feet, median 515 — small and highly standardised. Seven plans account for almost the whole building. The mix is 98 studios, 116 one-bedrooms and 17 two-bedrooms.
How liquid is this building?
The most liquid in this section. Seventy-three qualified sales across the last four years against 231 homes works out at roughly one home in 13 per year. For comparison, several buildings on the condo-hotel list trade at about one home in 50.
Why did one unit sell for $198,300 in 2026 when the median is around $375,000?
That is a 515 sq ft home that conveyed on 17 April 2026 at $385 per square foot, against a four-year median of $874. The county flags it as qualified, but a price at under half the building’s median is not a normal comparable and I would want to see the deed before using it as one. It is disclosed here rather than quietly dropped.
Sources and further reading
Interested in buying at YotelPad Miami Condos?
Learn more about buying at YotelPad Miami Condos with Josh Stein.
Miami Condo Hotel Buildings
Interested in selling at YotelPAD Miami?
Learn more about selling your condo at YotelPAD Miami with Josh Stein.
Thinking about YotelPAD Miami?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comRelated coverage
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