Arturo Calle
Colombia
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Downtown Miami, FL
40-story tower with certificate of occupancy since July 2026, with no rental restriction
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The development
501 First Residences is a 40-story tower with 476 studio-to-2-bedroom residences in the heart of Downtown Miami, already delivered: it received its certificate of occupancy in July 2026. Every unit arrives fully finished and furnished by design firm Shim Projects, and none has a rental restriction — it can be rented nightly, seasonally, or year-round from closing.
Developed by Aria Development Group (founded in 2009 in New York, with projects like 321 Ocean in Miami Beach and The Bond in Washington DC). The architecture is by Revuelta Architecture International, the firm behind Brickell Flatiron and The Bristol Tower in Brickell. The building includes a porte cochère with 24/7 valet, a lobby with 25-foot ceilings, and a ground-floor bistro and bar operated by GPG Hospitality, the New York organization behind Breads Bakery.
The address is 501 NE 1st Avenue, on the corner of NE 5th Street, in the heart of Downtown Miami. More than 20,000 square feet of amenities occupy floors 38 and 40, with 360-degree views over Biscayne Bay and the city skyline.
Residences
Unit 01B/12A is the smallest residence in the tower; unit 01/12, with 2 bedrooms and 835 interior square feet, is the largest.
| Unit | Layout | Bathrooms | Interior sq ft / m² | Exterior sq ft | Total sq ft | Ask about this unit |
|---|---|---|---|---|---|---|
| 01B/12A | Studio | 1 | 385 / 36 | 36 | 421 | Ask about this unit |
| 04/09 | Studio | 1 | 401 / 37 | 38 | 439 | Ask about this unit |
| 07 | Studio | 1 | 447 / 42 | 39 | 486 | Ask about this unit |
| 00 | Studio | 1 | 458 / 43 | 42 | 500 | Ask about this unit |
| 01A/12B | Studio | 1 | 458 / 43 | 145 | 603 | Ask about this unit |
| 06 | 1 bedroom | 1.5 | 571 / 53 | 62 | 633 | Ask about this unit |
| 13 | 1 bedroom | 1.5 | 591 / 55 | 63 | 654 | Ask about this unit |
| 02/03/10/11 | 1 bedroom + den | 2 | 597 / 55 | 62 | 659 | Ask about this unit |
| 05 | 1 bedroom | 1 | 551 / 51 | 138 | 689 | Ask about this unit |
| 08 | 1 bedroom | 1 | 606 / 56 | 156 | 762 | Ask about this unit |
| 01/12 | 2 bedrooms | 2 | 835 / 78 | 180 | 1,015 | Ask about this unit |
Price alert
We'll let you know when units are released, prices drop or the payment structure at 501 First Residences changes.We'll let you know when units are released or prices drop.
501 First Residences is at 501 NE 1st Avenue, on the corner of NE 5th Street, in the heart of Downtown Miami. The Perez Art Museum, the Frost Museum of Science, and Miami Worldcenter are minutes away, with direct access to Brightline, Miami International Airport, and PortMiami.
A 75-foot pool with a hot hydrotherapy tub and swim spa, a Homage Fitness gym, a private club with a chef's kitchen and urban greenhouse, and a ground-floor bistro and bar operated by New York's GPG Hospitality.
Investment opportunity
501 First Residences is already delivered: unlike buying pre-construction, there's no years-long wait for construction — the unit can be rented with no restrictions from closing, short or long stay. It's in the heart of Downtown Miami, steps from Miami Worldcenter, the largest mixed-use development in the United States after Hudson Yards in New York, with more than USD $3 billion in new investment planned according to the developer's own material (not a PFS projection). Miami International Airport, minutes away, receives more than 46 million passengers a year and accounts for 60% of Florida's international visitors — the kind of flow that sustains short-term rental demand downtown.
Many condos in Miami prohibit short rentals or require multi-month minimums. At 501 First, all 476 residences can be rented with no such restrictions: short or long stay, from closing. Since it's already delivered (certificate of occupancy from July 2026), there's no waiting for construction to finish before you can start generating income.
Yes, 501 First received its certificate of occupancy in July 2026. The USD $315,000 price shown on this page is the developer's original pre-construction price — it doesn't necessarily reflect the value of an already-delivered unit today. Write to us and we'll confirm updated resale or rental availability and pricing before you make any decision.
The developer publishes 11 distinct lines: studios from 385 to 458 interior square feet, 1-bedroom residences from 551 to 606 square feet (with 1 to 1.5-bath options and a 2-bath den version), and one 2-bedroom with 835 interior square feet. In total there are 476 residences with 1 to 2 baths. The full table is higher up on this page.
Each residence arrives fully finished and furnished by Shim Projects, with floor-to-ceiling windows, Italian cabinetry and countertops, Smeg appliances, and Hansgrohe bath fixtures. Every residence has a balcony, and the washer-dryer is a standalone, top-of-the-line unit.
Yes. We support you through the whole process with our 360 service: search, financing for non-residents with Avanti Lending, and legal and accounting handling. Many Colombian and Mexican clients started with the same questions.
PFS Realty is a single company for the whole process: financing, purchase, property management and insurance. We've spent more than 24 years working with buyers from Colombia, Mexico, Venezuela and the rest of Latin America, in Spanish, with support before and after closing.
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