121 NE 5 ST # 2908, Miami, FL 33132

About 121 NE 5 ST # 2908, Miami, FL 33132

DRASTICALLY REDUCED FOR QUICK SALE!-RENTED FOR $2500 UNTIL 6/14/2027- BUYER HAS TO ASSUME CURRENT LEASE-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.

How This Listing Compares in Miami

Per square foot, it is asking 102% above the Miami median for sales closed over the last twelve months — typical of premium views, newer construction or a top-tier building.

Medians from closed MLS sales in Miami; a starting point, not an appraisal.

Home Features at 121 NE 5 ST # 2908, Miami, FL 33132

Bathrooms Full

1

Bathrooms Half

0

Interior Features

Interior Hall, Fire Sprinklers, Entrance Foyer

Appliances

Dishwasher, Disposal, Dryer, Electric Water Heater, Ice Maker, Microwave, Electric Range, Refrigerator, Washer

Flooring

Ceramic Floor, Tile

Heating

Central, Electric

Cooling

Central Air, Electric

Furnished

Furnished

Architectural Style

Corner Unit, High Rise

Garage Spaces

0

Parking Features

Valet

Pool Private

No

Year Built Details

New Construction

Property Condition

New Construction

Direction Faces

North

The Building at 121 NE 5 ST # 2908, Miami, FL 33132

Building Name

501 FIRST RESIDENCES

Building Area Units

Square Feet

Stories Total

40

Entry Level

29

Association

Yes

Association Fee

$877

Association Fee Frequency

Monthly

Association Amenities

Bike Storage, Billiard Room, Business Center, Clubhouse-Clubroom, Community Room, Elevator(s), Exercise Room, Exterior Lighting, Heated Pool, Kitchen Facilities, Pool, Spa/Hot Tub, Trash Chute

Pets Allowed

No

Security Features

Fire Sprinklers, Fire Alarm, Smoke Detector, Security Patrol

Lot, Views & Construction at 121 NE 5 ST # 2908, Miami, FL 33132

Lot Size Square Feet

0

Waterfront

No

View

Other View, Skyline, Water View

Construction Materials

Concrete Block Construction

Exterior Features

Open Balcony

New Construction

Yes

Taxes & Public Record for 121 NE 5 ST # 2908, Miami, FL 33132

Parcel Number

01-41-01-008-2980

Tax Annual Amount

0

Tax Year

2,026

Tax Legal Description

Condominium Parcel No. 2908 of 501 FIRST RESIDENCES CONDOMINIUM

County Or Parish

Miami-Dade County

Map & Neighborhood