The Elser Hotel & Residences Miami

398 NE 5th St, Downtown Miami, FL 33132
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63 listings for sale
Unit Price MLS# Beds/Baths Sq.Ft. $/Foot Change Listed Details
3 Bedrooms
1909 $1,876,500 A11534892 3 3/0 976 $1,923 Feb 21, 2024
2601 $1,464,972 A11288139 3 3/ 1,307 $1,121 1.00% Oct 14, 2022
3018 $1,412,134 A11365345 3 3/ 1,267 $1,115 1.00% Mar 31, 2023
2618 $1,402,910 A11337472 3 3/ 1,267 $1,107 3.37% Feb 2, 2023
1617 $1,400,000 A11526459 3 3/0 1,040 $1,346 Feb 4, 2024
3901 $1,400,000 A11562334 3 3/0 1,150 $1,217 Apr 3, 2024
2218 $1,395,943 A11470298 3 3/ 1,267 $1,102 Oct 16, 2023
1417 $1,387,000 A11452652 3 3/0 1,040 $1,334 Sep 13, 2023
1518 $1,383,562 A11470285 3 3/ 1,267 $1,092 Oct 16, 2023
2 Bedrooms
4209 $1,857,000 A11592089 2 2/0 983 $1,889 NEW May 21, 2024
3309 $1,837,527 A11293941 2 2/ 1,202 $1,529 1.00% Oct 26, 2022
2209 $1,814,635 A11337463 2 2/ 1,202 $1,510 1.70% Feb 2, 2023
3711 $1,577,228 A11586615 2 2/0 818 $1,928 NEW May 13, 2024
4317 $1,425,900 A11293997 2 3/ 1,149 $1,241 2.28% Oct 28, 2022
3417 $1,406,562 A11311448 2 3/ 1,149 $1,224 27.08% Dec 5, 2022
1 Bedroom
2910 $1,200,000 A11552727 1 1/0 509 $2,358 Mar 19, 2024
4310 $1,160,000 A11423982 1 1/0 572 $2,028 Jul 24, 2023
1510 $1,100,000 A11545413 1 1/0 509 $2,161 Mar 6, 2024
4614 $1,050,000 A11530817 1 2/0 665 $1,579 Feb 9, 2024
4210 $1,050,000 A11567766 1 1/0 509 $2,063 4.55% Apr 11, 2024
3010 $1,045,000 A11592722 1 1/0 509 $2,053 NEW May 24, 2024
1614 $998,500 A11452466 1 2/0 665 $1,502 Sep 13, 2023
1514 $990,000 A11460007 1 2/0 665 $1,489 0.99% Sep 27, 2023
2915 $900,000 A11496767 1 1/0 560 $1,607 8.16% Dec 7, 2023
3119 $895,000 A11508836 1 1/0 626 $1,430 Jan 19, 2024
2815 $885,000 A11509267 1 1/0 560 $1,580 0.56% Jan 5, 2024
3815 $875,000 A11456237 1 1/0 641 $1,365 2.67% Sep 20, 2023
1419 $800,000 A11554854 1 1/0 626 $1,278 3.03% Mar 22, 2024
4415 $799,999 A11523746 1 1/0 560 $1,429 26.13% Jan 30, 2024
2102 $795,000 A11509279 1 1/0 430 $1,849 Jan 5, 2024
2804 $775,000 A11501823 1 1/0 443 $1,749 2.52% Dec 18, 2023
4708 $768,000 A11560922 1 1/0 430 $1,786 Apr 1, 2024
1903 $750,000 A11577270 1 1/0 439 $1,708 NEW May 6, 2024
1703 $750,000 A11577267 1 1/0 439 $1,708 NEW May 6, 2024
4006 $729,800 A11560900 1 1/0 443 $1,647 Apr 1, 2024
2003 $725,000 A11581678 1 1/0 427 $1,698 NEW May 8, 2024
2305 $720,000 A11587288 1 1/0 442 $1,629 NEW May 14, 2024
2206 $695,000 A11527880 1 1/0 443 $1,569 Feb 5, 2024
2316 $674,000 R10964281 1 1/0 362 $1,862 2.32% Feb 29, 2024
4712 $659,000 A11580833 1 1/0 341 $1,933 NEW May 17, 2024
Studios
2503 $779,000 A11505564 0 1/0 439 $1,774 Dec 28, 2023
3006 $779,000 A11516773 0 1/0 443 $1,758 2.01% Jan 17, 2024
3616 $775,000 A11587852 0 1/0 362 $2,141 NEW May 14, 2024
3904 $762,139 A11288834 0 1/ 494 $1,543 2.01% Oct 14, 2022
3204 $759,000 A11530361 0 1/0 443 $1,713 0.39% Feb 16, 2024
2904 $759,000 A11534588 0 1/0 443 $1,713 0.39% Feb 16, 2024
3602 $755,707 A11295338 0 1/ 508 $1,488 9.71% Oct 31, 2022
1804 $750,000 A11570671 0 1/0 494 $1,518 Apr 17, 2024
3202 $747,132 A11524739 0 1/ 500 $1,494 Jan 31, 2024
2602 $745,000 A11489713 0 1/0 430 $1,733 1.97% Nov 21, 2023
2004 $739,000 A11528995 0 1/0 443 $1,668 Feb 13, 2024
1806 $699,900 A11526409 0 1/0 443 $1,580 Feb 2, 2024
4713 $698,000 A11440483 0 1/0 357 $1,955 0.21% Aug 22, 2023
3813 $695,000 A11530883 0 1/0 357 $1,947 Feb 16, 2024
1504 $694,500 A11473399 0 1/0 443 $1,568 0.34% Oct 21, 2023
2616 $680,000 A11587864 0 1/0 362 $1,878 NEW May 14, 2024
4613 $675,000 A11483159 0 1/0 357 $1,891 3.43% Nov 29, 2023
1416 $640,000 A11549690 0 1/ 455 $1,407 Mar 13, 2024
4716 $639,000 A11585872 0 1/0 362 $1,765 NEW May 11, 2024
1412 $628,000 A11526245 0 1/0 341 $1,842 1.72% Feb 2, 2024
4012 $625,000 A11543928 0 1/0 341 $1,833 4.58% Mar 6, 2024
1612 $620,000 A11455725 0 1/0 341 $1,818 2.36% Sep 19, 2023
4412 $619,000 A11590456 0 1/0 341 $1,815 NEW May 21, 2024
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17 listings for rent
Unit Price MLS# Beds/Baths Sq.Ft. $/Foot Change Listed Details
3 Bedrooms
4517 $15,000 A11536416 3 3/0 1,149 $13 Feb 21, 2024 View
1417 $12,000 A11501958 3 3/0 1,040 $12 Dec 16, 2023 View
3901 $10,000 A11574251 3 3/0 1,150 $9 Apr 24, 2024 View
2 Bedrooms
4511 $5,400 A11588073 2 2/0 818 $7 NEW May 15, 2024 View
1 Bedroom
3110 $7,800 A11591360 1 1/0 509 $15 NEW May 20, 2024 View
1614 $5,800 A11501959 1 2/0 665 $9 Dec 16, 2023 View
2910 $5,500 A11552732 1 1/0 509 $11 Mar 19, 2024 View
1705 $5,500 A11557049 1 1/0 442 $12 Mar 28, 2024 View
2405 $5,000 A11537170 1 1/0 442 $11 Feb 29, 2024 View
2804 $4,995 A11501827 1 1/0 443 $11 Dec 18, 2023 View
3107 $4,500 A11574635 1 1/0 442 $10 Apr 23, 2024 View
1510 $4,250 A11585695 1 1/0 509 $8 NEW May 10, 2024 View
4210 $4,000 A11567903 1 1/0 509 $8 6.98% Apr 12, 2024 View
3708 $3,850 A11528965 1 1/0 430 $9 6.10% Feb 7, 2024 View
Studios
3008 $5,200 A11576439 0 1/0 443 $12 Apr 26, 2024 View
4203 $4,500 A11440900 0 1/0 439 $10 Aug 23, 2023 View
1412 $3,500 A11527770 0 1/0 341 $10 Feb 5, 2024 View
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1 listings pending
Unit Price MLS# Beds/Baths Sq.Ft. $/Foot Change Listed Details
Studios
1805 $699,900 A11539638 0 1/0 442 $1,583 Feb 27, 2024 View
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3 listings sold
Unit List Price Sold Price MLS# Beds/Baths Sq.Ft. $/Foot Date Sold Days Active Details
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 $1.45 Per Square Foot
Pets Allowed NO
Valet Service NO
Oceanview From The Building YES
Currently Available For Sale and Rent
Total residences for sale 63
Total residences for rent 17
Average price per square foot 1644
Maximum price per square foot 2358
Minimum price per square foot 1092
Sold Units Statistics
Average price per square foot 1596
Maximum price per square foot 1807
Minimum price per square foot 1389
Number Of Units Sold
Number of Units sold in 2024 3
Average price per square foot paid
Average price per square foot paid in 2024 1596

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