South Florida New Construction · Downtown Miami · 501 First Residences
The county records 476 homes, not the 448 given in older articles.
By Josh Stein · Florida license SL3057661 · Updated 30 September 2026
Verified 24 September 2026Miami-Dade County Property Appraiser, Aria Development Group, Florida YIMBY +5 more8 sources
501 First Residences lit at night, seen from the south — developer rendering
The lobby at 501 First Residences — developer rendering
The south access lobby at 501 First Residences — developer rendering
501 First Residences rising over downtown Miami — developer rendering
501 First Residences in daylight — developer rendering
501 First Residences in downtown Miami — developer rendering
501 First Residences in downtown Miami — developer rendering
501 First Residences in downtown Miami — developer rendering
The corner of 501 First Residences at street level — developer rendering
501 First Residences in downtown Miami — developer rendering
501 First Residences in downtown Miami — developer rendering
A residence interior at 501 First Residences — developer rendering
Building facts
- Address
- 501 NE 1st Avenue
- Neighborhood
- Downtown Miami
- Year built
- 2025
- Floors
- 40
- Residences
- 476
- Status
- Completed — first closings December 2025
- Developer
- Aria Development Group with Aqarat
- Architect
- Revuelta Architecture
- Pricing
- Prices started at $430,000 (Florida YIMBY, 12 June 2026)
Key Takeaways
- 501 First Residences recorded 435 home sales in the 12 months to 23 September 2026 — at a median of $455,000, or $904 per square foot, on the Miami-Dade County Property Appraiser record. The latest recorded sale was on 8 July 2026. Own at 501 First Residences? Ask Josh what yours would sell for on WhatsApp.
- The county records 476 homes, not the 448 given in older articles — the declaration 501 FIRST RESIDENCES CONDO holds 476 residential folios and one commercial unit, and the common-element shares close at 100.0004% — a complete record with nothing missing.
- Every recorded sale in this building falls between 25 February 2025 and 8 July 2026 — 436 qualified sales. There is no older record: after one deed dated 25 February 2025, the county’s first closings are dated 18 December 2025.
- Complete, with a handful of homes still available according to the developer — Aria says 95% of the units were presold before construction and that the remaining homes have been made available for purchase (its website, undated page read 24 September 2026). The county shows the developer’s entity, Aria 501 Acquisition LLC, as owner of record of 42 homes with no recorded sale; earlier reports called the building sold out (The Real Deal, 17 November 2022).
- 🔴 Two homes have sold a second time on the county record — 434 of the 436 qualified sales are first sales from the developer and 2 are not. Unit 2213 went from the developer to a first buyer on 6 February 2026 for $482,000 and from that buyer to a second on 9 March 2026 for exactly $482,000 again, 31 days later; the two deeds name different sellers and buyers, so they are two sales, not one deed recorded twice. Unit 912B went from the developer on 5 January 2026 at $310,000 and from its first buyer on 8 July 2026 at $391,000, $81,000 or 26 per cent more. Two records are too few to say what a home here resells for, and that is the most important thing to understand before buying here.
- 366 of the 436 sales closed inside one 90-day run — 67 in January 2026, 156 in February, 143 in March. A closing wave on that scale is a delivery event, not a market — the developer says 95% of the units were presold before construction began, so most prices set during it reflect contracts signed before the building went up.
- Price per square foot does not rise with size — the 359 sq ft studios trade at a median $939 per square foot while the 545 sq ft one-bedrooms trade at $852, though the order is not strict across every plan and the 760 sq ft two-bedrooms are highest at $979. Worth knowing if you are comparing on price alone.
- There are no three-bedroom homes here at all — 165 studios, 262 one-bedrooms and 49 two-bedrooms. Homes run 343 to 760 square feet, median 531. This is a small-format building by design.
501 First Residences, by the numbers
Developers: Aria Development Group, Aqarat · Architect: Revuelta Architecture International · Prices started at $430,000 (Florida YIMBY, 12 June 2026). Aria says 95% was presold before construction and a handful of homes remain (its website, read 24 September 2026); the county shows 42 homes with no recorded sale.
501 NE 1st Avenue, Miami, Florida 33132 | Neighborhood: Downtown Miami
The county’s first closing deeds for homes at 501 First Residences are dated 18 December 2025 (Miami-Dade County Property Appraiser, retrieved 24 September 2026), and Florida YIMBY reported on 12 June 2026 that construction had concluded. That makes it one of the newest complete condominium records in Miami — and it means something specific for anyone looking at it: there is almost no resale history to read. The county holds 436 qualified sales in this building; 434 are first sales from the developer and 2 are second sales of apartments that had already sold once (details below).
What the county records at 501 First Residences
The Miami-Dade County Property Appraiser records 476 homes and one commercial unit in the declaration 501 FIRST RESIDENCES CONDO. The common-element shares sum to 100.0004%, which is the county’s own confirmation that this is the whole building — every home accounted for, nothing missing from the record.
The homes run 343 to 760 square feet, median 531, and the bedroom mix is unusual: 165 studios, 262 one-bedrooms and 49 two-bedrooms, and no three-bedrooms at all. Six floorplates carry most of the building — 102 homes at 544 square feet, 68 at 359, 34 at 489, 34 at 545, 33 at 535 and 31 at 412.
Assessed values for 2026 run $232,800 to $575,400, median $358,425, a spread of 2.5× across the building — narrow, as you would expect where every home is within 420 square feet of every other one.
The commercial unit is worth noting separately. Unit CU 01 carries a 1.24116% share of the common elements — nearly four times the share of the largest home (0.31352%) — and sold on 2 February 2026 for $4,500,000 on a qualified deed. It is the single largest transaction the county records at this address.
The building
Downtown Miami, a block from the Brightline station. These are the developer’s renderings; the county record that follows is the check on them.
What the sales record shows, and two resales
Every qualified sale in this building falls between 25 February 2025 and 8 July 2026. There is no earlier record. Here is how the 436 landed:
- February 2025 — 1 sale
- December 2025 — 58 sales, the first closings on the county record
- January 2026 — 67
- February 2026 — 156
- March 2026 — 143
- April 2026 — 9
- June 2026 — 1
- July 2026 — 1
366 of the 436 sales — 84% — closed inside the January-to-March run. On 19 December 2025 alone, fifteen homes closed. That is a delivery schedule, not a market. Aria says 95% of the units were presold before construction began (Aria Development Group website, read 24 September 2026), and Florida YIMBY reported on 16 January 2023 that construction was already under way after a groundbreaking ceremony in December 2022, so the prices recorded during a closing wave mostly reflect contracts signed before the building went up rather than what it is worth in 2026.
The record-wide figures for the 434 first sales from the developer: median $903 per square foot, in a band from $489 to $1,338, at a median price of $454,000. Median price per foot moved from $850 in 2025 to $910 in 2026.
Forty-two of the 476 homes carry no sale record of any kind, and the county shows the developer’s entity, Aria 501 Acquisition LLC, as owner of record of all 42 (as of 24 September 2026). Some may be unsold and others may be under contract and awaiting a closing; the county record cannot tell the two apart, and I have not found a source that gives the developer’s count of unsold homes. It is not the same finding as an unsold home in a twenty-year-old building.
🔴 The resale count is the number that matters, and the county shows two. Two folios in the building record a second qualified sale.
Unit 2213 (folio 01-4101-008-4610, 531 square feet): the developer’s entity, Aria 501 Acquisition LLC, deeded it on 6 February 2026 for $482,000 (official records book 35190, page 2168), and the first buyer deeded it to a different buyer on 9 March 2026 for exactly $482,000 again (book 35204, page 0994) — 31 days apart at an identical price. The two deeds name different sellers and buyers, so this is a second sale rather than one deed recorded twice. I have not found a source that says why the price did not change.
Unit 912B (folio 01-4101-008-4220, 409 square feet): the developer deeded it on 5 January 2026 for $310,000 (book 35168, page 4079), and the first buyer deeded it on 8 July 2026 for $391,000 (book 35401, page 2016) — $81,000, or 26 per cent, more after 184 days. All four deeds carry the county’s qualified flag (retrieved 24 September 2026).
Two second sales, one at an unchanged price and one 26 per cent higher, are not enough to tell you what a home here resells for. Any figure quoted to you as a resale value in this building is an estimate resting on those two records at most. That will change as more homes trade, but as of 24 September 2026 the county has recorded only these two.
Arrival
The lobby and the south access, as rendered.
Price per foot by floorplan
Price per square foot in this building does not climb with size. Across the floorplates with enough first sales to measure, the 544 and 545 sq ft plans have the lowest medians and the 489 and 359 sq ft plans the highest, though the order is not strict — the 412 sq ft studios sit below the 535 sq ft one-bedrooms:
- 489 sq ft — 30 sales, median $976 per sq ft
- 359 sq ft — 64 sales, median $939
- 535 sq ft — 30 sales, median $897
- 412 sq ft — 30 sales, median $887
- 544 sq ft — 94 sales, median $875
- 545 sq ft — 32 sales, median $852
The highest reading in the building is the 760 sq ft two-bedrooms: a median $979 per square foot across 22 first sales. Those plans sit on floors 12 to 37 by the county’s unit numbers, like the other larger plans, and I have not found a source that says why they price highest per foot.
In absolute terms the ladder is conventional — studios at a median $336,000, one-bedrooms at $478,000, two-bedrooms at $722,000 (first sales from the developer). The cheapest recorded sale is $302,000 for a 409 sq ft home on 12 February 2026; the highest is $925,000 for a 760 sq ft two-bedroom on 30 June 2026, at $1,217 per square foot.
If you are comparing this building to a larger-format tower on price per foot alone, you will conclude it is expensive. That comparison is not like for like: the homes here are small, and I have not found a source that says how the buyers priced them.
The residences
Studios through two-bedrooms. The price-per-foot section above shows what each of these floorplans sold for.
The address and the unit count
Two figures differ between the marketing, the press and the county record, and a buyer may meet either version:
The address. This building is widely marketed as 501 NE 1st Avenue. The county’s site address of record is 121 NE 5th Street. Both describe the same building; only one returns the property record. A county property search on the marketed address (checked 24 September 2026) returns nothing at all.
The unit count. The Real Deal (17 November 2022) and Florida YIMBY (16 January 2023 and 24 July 2023) give 448 residences; the developer’s website, Florida YIMBY (12 June 2026) and the county record 476 homes. Where a marketing count and a recorded declaration disagree, this page uses the declaration. The same goes for size: the county’s range is 343 to 760 square feet, and the developer’s website lists 385 to 835 (studios 385–458, one-bedrooms 550–606, two-bedrooms 835). I have not found a source that reconciles the two measures.
Amenities
A pool deck, a greenhouse lounge, a co-working floor, a clubroom and a gym.
Who this building suits, and who it does not
This building suits a buyer who wants a new, small home in Downtown Miami that the developer markets with no rental restrictions (the binding rules are in the recorded declaration of condominium), and who understands they are buying into a record with two resales. First sales ran from $302,000 (a 409 square foot home, February 2026); the 8 July 2026 resale of a home that size was $391,000 (Miami-Dade County Property Appraiser, retrieved 24 September 2026). The completeness of the county record here is genuinely good — 476 homes, shares closing at 100.0004%, 436 documented sales between 25 February 2025 and 8 July 2026 — so you can see exactly what every home in the building sold for, at first sale.
It does not suit a buyer who wants deep evidence that homes here hold value. That evidence requires resales, and there are two: one at an unchanged price and one 26 per cent higher. It also does not suit anyone who needs three bedrooms, or more than the county’s 760 square feet: those homes do not exist in this building.
501 First Residences — Frequently Asked Questions
What have homes at 501 First Residences sold for in the last 12 months?
435 home sales were recorded on the Miami-Dade County Property Appraiser record in the 12 months to 23 September 2026, at a median of $455,000 ($904 per square foot). The latest recorded sale was on 8 July 2026. These are recorded closings, not asking prices. If you own at 501 First Residences and want to know what your home would sell for, message Josh Stein on WhatsApp at (305) 695-8257.
How many units are in 501 First Residences?
The Miami-Dade County Property Appraiser records 476 homes and one commercial unit in the 501 FIRST RESIDENCES CONDO declaration, with common-element shares summing to 100.0004% — a complete record. ⚠️ Older articles and marketing give 448 residences. Where a marketing count and a recorded declaration disagree, this page uses the declaration.
Is 501 First Residences finished?
Yes. The county’s first closing deeds for homes are dated 18 December 2025 (retrieved 24 September 2026), Florida YIMBY reported on 12 June 2026 that construction had concluded, and Aria celebrated the building’s certificate of occupancy in July 2026 (South Florida Agent, 12 August 2026). The county records 436 qualified sales between 25 February 2025 and 8 July 2026, including 58 closings in December 2025 alone. It is no longer a pre-construction building.
Is 501 First Residences sold out?
It was reported sold out before construction (The Real Deal quoted Aria’s Marco Ziff on 17 November 2022), but the developer’s own website says 95% of the units were presold before construction began and that the handful of remaining homes have been made available for purchase (undated page, read 24 September 2026). The county shows Aria 501 Acquisition LLC as owner of record of 42 homes with no recorded sale (24 September 2026); some may be under contract and awaiting closing. I have not found a source that gives the developer’s count of unsold homes, so ask me what is actually available.
What is the address of 501 First Residences?
It is marketed as 501 NE 1st Avenue, but the county’s site address of record is 121 NE 5th Street, Miami, FL 33132. A property search on the marketed address returns no records at all; the county address returns all 477 folios.
What do homes at 501 First Residences cost?
Across the 434 first sales from the developer the median is $454,000 at $903 per square foot. By type, the medians are $336,000 for a studio, $478,000 for a one-bedroom and $722,000 for a two-bedroom. The lowest recorded sale is $302,000 (12 February 2026) and the highest $925,000 (30 June 2026). Florida YIMBY reported on 12 June 2026 that prices started at $430,000.
What floorplans does 501 First Residences have?
Homes run 343 to 760 square feet, median 531: 165 studios, 262 one-bedrooms and 49 two-bedrooms, with no three-bedrooms. The largest floorplate is 544 square feet, with 102 homes.
What does the sale record show about 501 First Residences’ prices?
🔴 As of 24 September 2026 the county shows 436 qualified sales, and 434 of them are first sales from the developer (median $903 per square foot), so almost none of this record is resale history. Two homes have been bought and sold a second time — unit 2213 at $482,000 both times, 31 days apart (6 February and 9 March 2026), and unit 912B from $310,000 on 5 January 2026 to $391,000 on 8 July 2026. Two records are not enough to say what a home here resells for. What the record does show clearly is the first-sale price of nearly every home in the building. Anyone quoting you a resale value in this building is working from two data points at most.
Sources and further reading
- Miami-Dade County Property Appraiser — Property Search (477 folio records in the 501 FIRST RESIDENCES CONDO declaration at 121 NE 5 ST; 476 homes and one commercial unit; sales, grantors, grantees and official-records book and page; a search on 501 NE 1st Avenue returns none; retrieved 24 September 2026)miamidadepa.gov
- 501 First — Aria Development Group portfolio page (476 units; “95% of the units were released and presold prior to the commencement of construction”; the handful of remaining premium units made available for purchase; page undated, read 24 September 2026)ariadevelopmentgroup.com
- The Residences — 501 First Residences official developer site (40 floors, 476 residences on levels 3 to 37, no rental restrictions, studios 385–458 sq ft, one-bedrooms 550–606, two-bedrooms 835; read 24 September 2026)501firstmiami.com
- Construction Finishes on ‘501 First Miami’ at 121 N.E. 5th Avenue, Miami, Florida — Florida YIMBY, 12 June 2026 (construction concluded; 476 residences; prices started at $430,000, about 43 percent above the mid-2021 launch; no rent restrictions; Aria and Aqarat; Revuelta; Beauchamp)floridayimby.com
- 501 First Residences celebrates certificate of occupancy — South Florida Agent Magazine, 12 August 2026 (Aria celebrated the certificate of occupancy with a rooftop party the month before; 40 storeys; 476 residences)southfloridaagentmagazine.com
- Mat Foundation Pour Completed For 501First Residences In Downtown Miami — Florida YIMBY, 24 July 2023 (40 stories; 448 residences, studios to two-bedrooms, 385 to 835 sq ft; Beauchamp Construction general contractor)floridayimby.com
- Aria JV scores $81M construction loan for downtown Miami condo project — The Real Deal, 17 November 2022 (448 condos; prices $350,000 to $800,000; Aria’s Marco Ziff: project fully sold out)therealdeal.com
- Developers Get Building Permits For 440-Foot-Tall 501 First Residences In Downtown Miami — Florida YIMBY, 16 January 2023 (40 stories; FAA approval for a 440-foot structure issued to Aria 501 Acquisition LLC; 448 units; Oneworld Properties handling sales)floridayimby.com
501 First Residences is complete. Its first closing deeds on the county record are dated 18 December 2025 (retrieved 24 September 2026); Florida YIMBY reported on 12 June 2026 that construction had concluded, and Aria celebrated the building’s certificate of occupancy with a rooftop party in July 2026 (South Florida Agent, 12 August 2026). 40 storeys, approved by the FAA at 440 feet (Florida YIMBY, 16 January 2023), and 476 residences on the county record and the developer’s website, by Aria Development Group with Aqarat, architecture by Revuelta Architecture International. Prices started at $430,000 as of 12 June 2026 (Florida YIMBY), about 43 per cent above the mid-2021 launch.
Verified 24 September 2026. Sources: Florida YIMBY, 12 Jun 2026; Miami-Dade County Property Appraiser, 24 Sep 2026; South Florida Agent, 12 Aug 2026
Interested in buying at 501 First Residences?
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501 First Residences Amenities
• Elegant porte-cochère with 24/7 valet service upon entry
• Mid-century, modern-inspired interior finishes and furniture in residential lobby with 25’ ceiling heights
• Ground level food and beverage concept
• Secure bicycle storage in enclosed and air-conditioned space
• Centrally-located personal storage for all owners
• Boardrooms with video conferencing and smart technology
• Exclusive private art and music events
• East rooftop coworking area with powered banquette seating and secluded pods shaded by wood trellises and pergolas
• Pet bath station to cater to furry residents
• Centrally-located personal storage for all owners
• Luxer One Package Room featuring a techforward, contactless digital package delivery system, cold storage and dry-cleaning service
• Fully integrated digital property access system offering secure, smart and convenient video
intercom solutions
• Greenhouse, an urban oasis featuring soothing greenery and plants year-round to relax and unwind at your leisure
• Private club suite with game tables
• Entertainment chef’s kitchen
• Media Room & Library with expansive cultural offerings
• World-class fitness center with indoor gym designed by HOMAGE Fitness. HOMAGE is the vision behind celebrity trainers, Eric Johnson and Ryan Johnson, blending the science of health and fitness with the art of hospitality.
• State-of-the-art indoor gym
• Yoga/meditation
• Private fitness training rooms
• Sunrise terrace with stunning views
• Rooftop deck with:
• 75-foot resort
• Style lap pool
• Hot hydrotherapy bath and oversized swim-spa
• North-facing private rooftop movie theatre experience
• Grill & Chill on the Sunrise and Sunset Decks
• Outdoor Game Lawn
501 First Residences Prices
Prices ranged from $350,000 to $800,000 as of 17 November 2022 (The Real Deal). Prices started at $430,000 as of 12 June 2026 (Florida YIMBY). The building was reported sold out before construction; the developer’s website says a handful of remaining homes have been made available for purchase (undated page, read 24 September 2026). Ask me what is available.
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. Tell Josh which building. He’ll send the latest closed sales and set a quiet alert. Part of South Florida New Construction.Thinking about 501 First Residences?
Get this building’s next recorded sale — before the listing sites catch up
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