The Elser Hotel & Residences Miami

398 NE 5th St, Downtown Miami, FL 33132
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89 listings for sale
Unit Price MLS# Beds/Baths Sq.Ft. $/Foot Change Listed Details
3 Bedrooms
1609 $1,900,000 R11045668 3 3/0 976 $1,947 Dec 17, 2024
4401 $1,597,000 A11778150 3 3/0 1,150 $1,389 Apr 5, 2025
PH4701 $1,595,000 A11756284 3 3/0 1,150 $1,387 Mar 4, 2025
3717 $1,550,000 A11689758 3 3/0 1,043 $1,486 Nov 7, 2024
1601 $1,499,000 A11750901 3 3/0 1,150 $1,303 Feb 24, 2025
CT18 $1,412,134 A11365345 3 3/ 1,267 $1,115 1.00% Mar 31, 2023
2001 $1,400,000 A11740885 3 3/0 1,150 $1,217 Feb 17, 2025
2118 $1,389,900 R11065760 3 3/0 1,135 $1,225 0.71% Feb 25, 2025
2017 $1,380,000 A11602699 3 3/0 1,043 $1,323 1.36% Jun 7, 2024
1617 $1,380,000 A11693125 3 3/0 1,040 $1,327 6.15% Nov 13, 2024
2517 $1,350,000 A11793328 3 3/0 1,043 $1,294 NEW Apr 29, 2025
3901 $1,300,000 A11790416 3 3/0 1,150 $1,130 NEW Apr 24, 2025
2 Bedrooms
CT09 $1,822,960 A11697944 2 2/ 1,202 $1,517 Nov 21, 2024
AA09 $1,816,716 A11656838 2 2/ 1,202 $1,511 Sep 10, 2024
3809 $1,800,000 A11749043 2 2/0 983 $1,831 Feb 20, 2025
3209 $1,779,000 A11722985 2 2/0 983 $1,810 1.11% Jan 12, 2025
2411 $1,651,111 A11775255 2 2/0 818 $2,018 Apr 1, 2025
2211 $1,544,482 A11697982 2 2/ 956 $1,616 Nov 21, 2024
AA11 $1,537,933 A11656884 2 2/ 956 $1,609 Sep 10, 2024
2111 $1,525,000 A11798473 2 2/0 818 $1,864 NEW May 7, 2025
3417 $1,406,562 A11288139 2 3/ 1,149 $1,224 3.99% Oct 14, 2022
1 Bedroom
4719 $1,200,000 A11723649 1 1/0 626 $1,917 Jan 13, 2025
2810 $1,095,000 A11717892 1 1/0 509 $2,151 Jan 5, 2025
4210 $1,050,000 A11712386 1 1/0 509 $2,063 Dec 19, 2024
1510 $1,050,000 A11735119 1 1/0 509 $2,063 4.55% Jan 30, 2025
4310 $1,000,000 A11423982 1 1/0 572 $1,748 13.79% Jul 24, 2023
3010 $990,000 A11702616 1 1/0 509 $1,945 Dec 3, 2024
1614 $958,800 A11452466 1 2/0 665 $1,442 4.00% Sep 13, 2023
3610 $950,000 A11672245 1 1/0 509 $1,866 2.56% Oct 13, 2024
2214 $949,000 A11708896 1 1/0 Jan 10, 2025
2119 $930,000 A11780074 1 1/0 626 $1,486 NEW Apr 10, 2025
2114 $930,000 A11787947 1 2/ NEW Apr 24, 2025
4614 $900,000 A11742984 1 2/0 665 $1,353 Feb 11, 2025
2419 $899,900 A11784787 1 1/0 626 $1,438 NEW Apr 16, 2025
3119 $895,000 A11656357 1 1/0 626 $1,430 Sep 26, 2024
3814 $859,000 A11676565 1 2/0 665 $1,292 10.98% Oct 15, 2024
2414 $845,000 A11776059 1 2/0 665 $1,271 3.98% Apr 2, 2025
1615 $830,000 A11655850 1 1/0 560 $1,482 Sep 26, 2024
2415 $825,000 A11798411 1 1/0 560 $1,473 NEW May 9, 2025
1515 $810,000 A11787506 1 1/0 560 $1,446 NEW Apr 25, 2025
4603 $809,000 R11068030 1 1/0 439 $1,843 Mar 4, 2025
4503 $799,000 R11067995 1 1/0 439 $1,820 Mar 4, 2025
1915 $789,000 A11645433 1 1/0 579 $1,363 0.13% Aug 21, 2024
2903 $779,000 R11067982 1 1/0 439 $1,774 Mar 4, 2025
4708 $768,000 A11560922 1 1/0 430 $1,786 Apr 1, 2024
2804 $745,000 A11501823 1 1/0 443 $1,682 3.87% Dec 18, 2023
2102 $740,000 A11681121 1 1/0 430 $1,721 Oct 23, 2024
4006 $729,800 A11560900 1 1/0 443 $1,647 Apr 1, 2024
2205 $699,000 A11746206 1 1/0 442 $1,581 Feb 17, 2025
1419 $670,000 A11657843 1 1/0 626 $1,070 1.47% Oct 1, 2024
1906 $668,500 A11779809 1 1/0 443 $1,509 0.22% Apr 8, 2025
1408 $660,000 A11773822 1 1/0 430 $1,535 2.22% Apr 3, 2025
2815-1BED $659,000 A11509267 1 1/0 560 $1,177 0.15% Jan 5, 2024
1902 $649,000 A11713607 1 1/0 430 $1,509 Dec 23, 2024
2305 $645,000 A11773278 1 1/0 442 $1,459 Mar 29, 2025
1708 $620,000 A11668916 1 1/0 485 $1,278 4.62% Oct 1, 2024
2506 $599,000 A11684359 1 1/0 443 $1,352 11.91% Nov 1, 2024
4005 $599,000 A11756148 1 1/0 442 $1,355 Mar 3, 2025
1706 $579,000 A11789023 1 1/0 443 $1,307 NEW Apr 22, 2025
1805 $569,000 A11790172 1 1/0 442 $1,287 NEW Apr 29, 2025
3707 $568,000 A11683284 1 1/0 442 $1,285 1.22% Oct 27, 2024
1905 $565,000 A11794579 1 1/0 442 $1,278 NEW May 1, 2025
Studios
4404 $785,000 A11706667 0 1/0 443 $1,772 Dec 9, 2024
1806 $779,000 A11714327 0 1/0 443 $1,758 Dec 27, 2024
3204 $740,000 A11753429 0 1/0 443 $1,670 Feb 28, 2025
2402 $735,000 A11742882 0 1/ Feb 11, 2025
2904 $730,000 A11753460 0 1/0 443 $1,648 Feb 28, 2025
4316 $729,900 A11732567 0 1/0 362 $2,016 Feb 1, 2025
2112 $725,000 A11692040 0 1/0 341 $2,126 Dec 9, 2024
3106 $720,000 A11708374 0 1/0 443 $1,625 Jan 10, 2025
2602 $690,000 A11756355 0 1/0 430 $1,605 Mar 5, 2025
2212 $649,000 A11701159 0 1/0 341 $1,903 1.52% Nov 28, 2024
2516 $635,000 A11757786 0 1/0 362 $1,754 Mar 5, 2025
3813 $620,000 A11530883 0 1/0 357 $1,737 10.79% Feb 16, 2024
4107 $620,000 A11680508 0 1/0 442 $1,403 Oct 25, 2024
2503 $615,000 R11073483 0 1/0 439 $1,401 Mar 20, 2025
2805 $615,000 A11788577 0 1/0 442 $1,391 NEW Apr 23, 2025
2116 $599,000 A11746223 0 1/0 362 $1,655 Feb 17, 2025
2712 $595,000 A11739336 0 1/0 341 $1,745 Feb 6, 2025
4105 $589,000 A11655930 0 1/0 442 $1,333 6.36% Sep 9, 2024
4416 $579,000 A11622659 0 1/0 362 $1,599 10.79% Jul 12, 2024
2404 $569,000 A11752247 0 1/0 443 $1,284 Mar 5, 2025
4012 $560,000 A11783132 0 1/0 341 $1,642 NEW Apr 14, 2025
3313 $559,000 A11752234 0 1/0 357 $1,566 Mar 5, 2025
1416 $540,000 A11765024 0 1/ 455 $1,187 7.69% Mar 17, 2025
1516 $519,000 A11763592 0 1/0 362 $1,434 4.77% Mar 20, 2025
1412 $499,000 A11703091 0 1/0 341 $1,463 9.11% Dec 6, 2024
Boat Docks
2616 $599,000 A11740928 0 1/0 362 $1,655 Feb 7, 2025
2316 $543,000 A11757971 0 1/0 362 $1,500 Mar 12, 2025
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32 listings for rent
Unit Price MLS# Beds/Baths Sq.Ft. $/Foot Change Listed Details
3 Bedrooms
2101 $11,000 A11788394 3 3/0 1,150 $10 NEW Apr 22, 2025 View
1617 $10,000 A11634721 3 3/0 1,040 $10 99.29% Aug 2, 2024 View
2001 $10,000 A11657879 3 3/0 1,150 $9 20.00% Sep 11, 2024 View
2418 $10,000 R11039005 3 3/0 1,135 $9 Nov 21, 2024 View
1609 $10,000 R11044399 3 3/0 976 $10 Dec 12, 2024 View
1909 $9,450 A11660417 3 3/2 976 $10 5.50% Sep 22, 2024 View
2301 $8,000 A11797403 3 3/0 2,301 $3 NEW May 6, 2025 View
2118 $7,700 A11797388 3 3/0 1,135 $7 NEW May 6, 2025 View
2 Bedrooms
2809 $8,750 A11754615 2 2/0 983 $9 20.45% Mar 1, 2025 View
4211 $6,800 A11766690 2 2/0 818 $8 20.00% Mar 24, 2025 View
4511 $6,500 A11752233 2 2/0 818 $8 7.14% Mar 28, 2025 View
1 Bedroom
2114 $5,950 A11751384 1 2/0 665 $9 4.03% Feb 24, 2025 View
1614 $5,800 A11501959 1 2/0 665 $9 Dec 16, 2023 View
2414 $5,700 A11650037 1 2/0 665 $9 1.72% Aug 29, 2024 View
4015 $5,400 F10448884 1 1/0 560 $10 1.82% Jul 3, 2024 View
2804 $4,995 A11501827 1 1/0 443 $11 Dec 18, 2023 View
3207 $4,500 A11725296 1 1/0 442 $10 Jan 15, 2025 View
3419 $4,500 A11778592 1 1/0 626 $7 Apr 7, 2025 View
4602 $4,500 A11794048 1 1/0 430 $10 NEW Apr 30, 2025 View
4203 $4,200 A11711680 1 1/0 439 $10 Dec 26, 2024 View
4202 $4,200 A11711606 1 1/0 430 $10 Dec 26, 2024 View
3107 $3,800 A11574635 1 1/0 442 $9 5.00% Apr 23, 2024 View
2515 $3,800 A11721175 1 1/0 560 $7 9.52% Jan 9, 2025 View
2415 $3,700 A11769701 1 1/0 560 $7 Mar 26, 2025 View
4008 $3,500 A11769688 1 1/0 430 $8 Mar 26, 2025 View
4507 $3,400 A11719914 1 1/0 442 $8 Jan 22, 2025 View
2207 $3,300 A11769703 1 1/0 442 $7 Mar 26, 2025 View
2102 $3,200 A11762670 1 1/0 430 $7 Mar 13, 2025 View
Studios
1513 $4,000 A11787855 0 1/0 357 $11 NEW Apr 22, 2025 View
1906 $3,650 A11794433 0 1/0 443 $8 NEW May 1, 2025 View
3113 $3,600 A11669390 0 1/0 357 $10 2.70% Oct 1, 2024 View
4512 $3,500 A11769700 0 1/0 341 $10 Mar 26, 2025 View
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1 listings pending
Unit Price MLS# Beds/Baths Sq.Ft. $/Foot Change Listed Details
Studios
1612 $499,000 A11455725 0 1/0 341 $1,463 12.30% Sep 19, 2023 View
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9 listings sold
Unit List Price Sold Price MLS# Beds/Baths Sq.Ft. $/Foot Date Sold Days Active Details
4414 $869,000 $850,000 A11732718 1 2/0 781 $1,088 Mar 13, 2025 40 View
2007 $575,000 $575,000 A11680875 0 1/0 442 $1,301 Mar 12, 2025 140 View
4209 $1,857,000 $1,500,000 A11712356 2 2/0 983 $1,526 Feb 28, 2025 70 View
3711 $1,350,000 $1,300,000 A11586615 2 2/0 818 $1,589 Feb 19, 2025 281 View
1504 $638,000 $620,000 A11631157 1 1/0 443 $1,400 Nov 22, 2024 117 View
1805 $699,900 $620,000 A11539638 0 1/0 442 $1,403 Jun 7, 2024 100 View
3410 $995,000 $910,000 A11423424 1 1/0 572 $1,591 Apr 30, 2024 280 View
4005 $619,000 $614,000 A11517148 0 1/0 442 $1,389 Apr 18, 2024 89 View
4313 $679,000 $645,000 A11449435 0 1/0 357 $1,807 Jan 22, 2024 135 View

Rentals and Sales Share

Current Sale and Rent

Number of Units Sold

Average Sold Prices

Average Asking Price vs Average Sold Price

Sold Price per Sq Ft

General Information
Total residences in the building 646
Number of Stories 49
Year Built 2023
Average Maintenance Cost $1.66 Per Square Foot
Pets Allowed NO
Valet Service NO
Oceanview From The Building YES
Currently Available For Sale and Rent
Total residences for sale 89
Total residences for rent 32
Average price per square foot 1552
Maximum price per square foot 2151
Minimum price per square foot 1070
Sold Units Statistics
Average price per square foot 1455
Maximum price per square foot 1807
Minimum price per square foot 1088
Number Of Units Sold
Number of Units sold in 2024 5
Number of Units sold in 2025 4
Average price per square foot paid
Average price per square foot paid in 2024 1518
Average price per square foot paid in 2025 1376

Description


The Elser Hotel & Residences — Modern Reflection of Miami Legacy

The Elser Hotel & Residences is a 49-story luxury tower that stands out from the surrounding buildings. The project has been implemented with a full range of modern services and amenities, according to the concept of "everything at your fingertips".

The building is located on the first coastline while benefiting from a prime location in the heart of the city. There are very few condominiums like this in Miami, but none of them offer apartments priced from only $650,000.

Unparalleled panoramic views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline are unrivaled, as there are and will be no high-rise structures in front or to the sides of the building. Add to that immediate check-in, short-term rental permits, on-site hospitality management to ensure a comfortable stay, and the choice for your Miami investment is an easy decision.

Also, it is worth noting that “Miami Heat” players, including Tyler Herro, Kyle Lowry, and Duncan Robinson, have chosen The Elser Hotel & Residences as their preferred destination.

About the Project and Team

Address: 398 NE 5th St, Miami, FL 33132, USA

Status: Built

Completion: 2023

The team behind The Elser Residences is quite impressive:

Developers: Property Markets Group (PMG) & Greybrook Partners

Property Markets Group (PMG) and Greybrook Partners have a proven record of delivering luxury real estate projects. Their collaboration highlights a commitment to creating high-quality, luxurious living spaces that cater to the modern lifestyle

Property Markets Group (PMG) is a national full-service real estate development firm founded in 1991. PMG has led the acquisition, financing, development, construction, and marketing of 85 residential buildings and more than 150 real estate projects.

Greybrook is a leading Toronto-based private equity firm with a core focus on real estate development. They have invested equity in over 100 residential and commercial real estate projects with an estimated completion value exceeding $35 billion.

Architects: Sieger Suarez Architects

Sieger Suarez Architects is a Miami-based firm specializing in the diversified field of luxury high-rise residential design and development. They have designed over US $10 billion worth of residential real estate properties. The firm is known for its innovation of the “floor through/see-through” unit design, one of the most successful design concepts in the high-rise residential market.

They are the architectural brains behind The Elser Hotel & Residences. Their innovative design approach has resulted in a 49-story tower that not only offers stunning views of Biscayne Bay but also seamlessly blends luxury with comfort.

Interior Design: Cotofana Designs

Cotofana Designs is a Miami-based interior design firm that provides a range of services. They are responsible for the interior design of The Elser Hotel & Residences and have curated a relaxing coastal chic décor that complements the architectural brilliance of the building.

Their hand-selected interior design and décor have transformed the residences into luxurious living spaces that offer residents a taste of Florida's unique style. Cotofana Designs' work displays its ability to create interiors that are not only aesthetically pleasing but also functional and comfortable.

This collaboration has resulted in a luxurious hotel and residences that offer a dynamic lifestyle at the center of Downtown Miami.

The Elser Residences Miami: Building Features and Layouts

The Elser Residences Miami is a 49-story tower located in the heart of downtown Miami. This luxurious establishment offers 646 residences, each designed with modern aesthetics and comfort in mind.

Immediate Check-In and Short-Term Rentals

We offer immediate check-in for our guests and allow short-term rentals. Our on-site hospitality management ensures a seamless and enjoyable stay.

Modern Lobby and Concierge

The modern residential lobby is staffed with a 24-hour concierge, ready to assist with any needs.

Eco-Friendly Features

The Elser supports green initiatives with electric vehicle charging stations available for use.

Smart Construction Technologies

The building incorporates the latest smart construction technologies.

Elevator with Destination Control

Elevators are equipped with destination control for efficient travel within the building.

Smart Lockers and Package Delivery

We offer smart lockers for packages and have a dedicated app that connects residents with concierge services and building amenities. The app features include digital key access, guest access, parcel delivery, and messages from management.

Laundry Services

For convenience, we provide lockers for dry cleaning and laundry.

Controlled Access and Valet Parking

The building features controlled access entry points everywhere for added security and offers valet parking for all our residents and guests.

The Elser Residences offers a variety of residences, ranging from cozy studios to spacious three-bedroom units, with nineteen units on every floor. The square footage of these residences spans from 455 to 1,533 square feet, with the prices $650,000 - $1,840,000.

Here are specific layouts:

Residence 01: 3 bedrooms, 3 bathrooms, 1,533 sq. ft

Residence 02 - 08, 15, 16: Junior Suite, 1 bathroom, ranging from 455 to 703 sq. ft

Residence 09: 3 bedrooms, 3 bathrooms, 1,429 sq. ft (floors 14-20); 2 bedrooms, 2 bathrooms, 1,429 sq. ft (floors 20-47)

Residence 10: 1 bedroom, 1 bathroom, 688 sq. ft

Residence 11: 2 bedrooms, 2 bathrooms, 1,202 sq. ft

Residence 12, 13: Studio, 1 bathroom, ranging from 459 to 472 sq. ft

Residence 14: 1 bedroom, 2 bathrooms, 851 sq. ft

Residence 17: 3 bedrooms, 3 bathrooms, 1,254 sq. ft (floors 14-20); 2 bedrooms, 3 bathrooms, 1,254 sq. ft (floors 20-47)

Residence 18: 3 bedrooms, 3 bathrooms, 1,491 sq. ft

Residence 19: 1 bedroom, 1 bathroom, 769 sq. ft

Residences Features

The residences are fully furnished and finished, ready for the owners to move in. They feature 9-foot-2-inch ceiling heights with floor-to-ceiling windows throughout. Each residence comes with a balcony that provides stunning views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline.

• The residences feature porcelain wood grain tile floors throughout adding a touch of elegance and warmth to the space

• Select residences come with a built-in full-size washer and dryer, adding to the convenience

• The residences are equipped with an Ecobee smart thermostat, feature smart keyless entry

• Kitchens in the residences are custom Italian designed, equipped with quartz countertops and Frigidaire stainless steel appliances including microwave, dishwasher, freestanding range oven, and refrigerator

• The residences come with glass-enclosed showers and Italian custom-made vanities and bathroom fixtures from Italkraft

• All residences have fully built-in California-style closets. And pre-wired for high-speed communications, multiple phone lines, and cable

All these features are designed to provide residents with a comfortable and luxurious living experience.

Services and Amenities of The Elser Residences Condo

The Elser Residences Condo offers a wide range of services and amenities that cater to the needs and desires of its residents and guests:

- Lobby with Cocktail Bar and Restaurant by Jaguar Sun providing a relaxing space for residents and guests

- The Elser Tower boasts a convenient double-height terrace spanning over 19,000 square feet with views of Downtown Miami and Biscayne Bay

- Curated Art and Green Walls in all common areas, adding to the aesthetic appeal

- Elser Residences features a 132-foot resort-style pool with separate lounge areas, and a 16-foot LED poolside screening wall, providing residents with a unique outdoor experience

- Lawn with Theater for providing a venue for various events and activities

- Sky Entertainment Lounge and Grill Terrace with eight grills

- Large Swim Spa with adjustable temperature

- Owner’s Lounge with Catering Kitchen

- Two-level co-working Lab featuring conference rooms

- Coffee Lounge by Cafe Domino offering a unique experience for coffee lovers

- Two-level modern Gym and Fitness Studio providing residents and guests with a variety of fitness classes and social events

- Spacious Outdoor Yoga Area offers a serene space for relaxation and meditation

- Sauna: After a workout, residents can unwind in the sauna

- Free Wi-Fi in Public Areas

- Private parking for the convenience of its residents and guests

These amenities and services are designed to provide a comfortable, and enjoyable stay for all residents and guests at The Elser Hotel & Residences.

Stunning Location

The Elser Miami is located in the same vibrant location with shimmering views of Biscayne Bay enjoyed at the Elser Pier in the early 1900s. This idyllic downtown location helps the building be within walking distance of Bayside Market, American Airlines Arena, and Bayfront Park. These are the main places for shopping, entertainment, and recreation in Miami.

This means condominium residents can immediately experience a vibrant and dynamic lifestyle, with access to a variety of well-appointed amenities, and world-class entertainment, arts, and dining options. At the same time, it only takes 15 minutes. by car to get to Miami International Airport and the same distance to the ocean beach of South Beach.

These advantages make The Elser a unique property in Miami that middle-income families and above can afford. Whether a resident or visitor, you will enjoy the vibrant energy of Downtown Miami and the luxurious amenities of The Elser Hotel & Residences!

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Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker