501 First Residences Location & Neighborhood
501 NE 1st Avenue, Miami, FL 33132
The Neighborhood
What's within reach.
-
Miami Worldcenter Walking distance0.2 mi
-
Brightline MiamiCentral Walking distance0.3 mi
-
Kaseya Center Walking distance0.5 mi
-
Bayside Marketplace Walking distance0.5 mi
Life at 501 First Residences
Downtown Miami's Park West / Worldcenter district has become a hub for flexible-ownership condos that double as Airbnb investment properties. 501 First was among the first to pioneer this model with full daily rental rights.
Fully Sold Out
501 First Residences sold out before delivery — current availability is via resale market only. The strong sales velocity demonstrated demand for the flexible-rental model.
Daily Short-Term Rental Approval
Full daily rental approval via Airbnb, VRBO, Booking.com, or any home-sharing platform. No minimum lease.
Walking to Brightline
Walking distance to Brightline MiamiCentral Station — high-speed rail to Orlando, Aventura, Fort Lauderdale, and West Palm Beach.
Aria's Sold-Out Portfolio
501 First joins Aria Development Group's portfolio of fully sold-out Downtown Miami towers: YOTEL Miami and 600 Miami Worldcenter — all built on the same flexible rental model.
Worldcenter Adjacent
Across from Miami Worldcenter's 300,000+ sq ft shopping and dining district.
501 First Residences Investment & Market Outlook
Why Downtown Miami Pre-Construction Outperforms
South Florida pre-construction has historically delivered double-digit appreciation between contract and delivery, especially in branded residences. Downtown Miami specifically has seen sustained demand from international buyers seeking US dollar-denominated real estate, tax advantages from Florida's no-income-tax structure, and currency hedging against home-market inflation.
Branded residences like 501 First Residences typically command 25–35% price premiums over comparable non-branded inventory in the same submarket, and resale price retention has consistently outpaced the broader Miami condo index over the past decade.
Friends & Family Pricing
As pre-construction specialists with direct developer relationships, we offer qualified buyers access to friends-and-family pricing — typically 4–8% below current public release pricing — along with extended deposit schedules, custom unit selection, and priority on the most desirable exposures and floors.
Deposit Structure
Standard Downtown Miami pre-construction deposit structures range from 20% at contract to 50% by delivery, with milestone payments at groundbreaking, top-off, and certificate of occupancy. 501 First Residences follows the Downtown Miami market standard. Our team can walk you through the full deposit schedule and any current developer incentives reducing the at-contract deposit requirement.
How to Reserve a Residence at 501 First Residences
Pre-construction purchases follow a different path than resale transactions. Here's what to expect, step by step.
-
01
Initial Consultation
We start with a 30-minute call to understand your goals — primary residence, investment, legacy asset — and walk you through current availability, pricing tiers, and the floor plans best suited to your needs.
-
02
Floor Plan Selection & Reservation
Once you've narrowed your selection, a refundable reservation deposit (typically $25,000–$100,000) holds your residence for 14–30 days while contracts are prepared. You'll receive the full developer reservation package and the most current pricing for your specific unit.
-
03
Contract & First Deposit
The purchase contract is executed with the developer, and the first deposit (typically 10–20% of the purchase price) is wired to the developer's escrow account at a Florida-licensed institution. All funds are protected under Florida pre-construction escrow law until milestones are reached.
-
04
Construction Milestones
Subsequent deposits are released as construction reaches defined milestones — typically groundbreaking, top-off, and certificate of occupancy. You'll receive quarterly construction updates, photo documentation, and the option to tour the unit once interiors are roughed in.
-
05
Closing & Delivery
At closing, the final balance is funded (cash or financing via approved lenders), title transfers, and you receive keys. Closing typically occurs 30–60 days after the developer issues the certificate of occupancy. Move-in coordination, designer access, and Mercedes-Benz/Bentley/Armani concierge enrollment all happen at this stage.
501 First Residences FAQs
Answers to the most common questions about 501 First Residences pricing, amenities, and policies. For anything else, our team is here to help.
How much do 501 First Residences cost?
501 First Residences started at $385K for studios (385-535 sq ft) and ranged to $1M+ for 2-bedrooms (up to 835 sq ft). Current resale availability may price higher.
Is 501 First sold out?
Yes — 501 First Residences is fully sold out via the developer. Current availability is through resale market.
Are short-term rentals allowed?
Yes — 501 First has no rental restrictions and full daily short-term rental approval. Owners can use Airbnb, VRBO, Booking.com, or any home-sharing platform with no minimum lease.
Who developed 501 First?
501 First Residences was developed by Aria Development Group with AQARAT (a Kuwaiti investment firm). Aria's Downtown Miami portfolio also includes YOTEL Miami and 600 Miami Worldcenter.
When was 501 First completed?
501 First completed and delivered in 2024-2025. The tower is fully operational.
How many residences does 501 First have?
448 fully finished and furnished condos across 40 stories. Studios to 2-bedroom layouts, 385 to 835 sq ft.
What's included in each residence?
Fully furnished delivery, smart home wiring, premium appliance package, integrated short-term rental management option through Aria's hospitality partner.
How does 501 First compare to YOTEL Miami?
Both are Aria Development Group projects with the same flexible-rental model. YOTEL Miami is the YOTEL-branded hotel-residence tower; 501 First is the more general-market flexible-rental tower. Both are walking distance to Brightline.
