501 First Residences, located at 501 NE 1st Avenue, is a 40-story luxury tower that marks a milestone in Miami’s “flexible ownership” movement. Developed by Aria Development Group and AQARAT and designed by the acclaimed Revuelta Architecture International, it is one of the first buildings in Miami to offer owners 100% rental flexibility (365-day short-term rentals) without a mandatory hotel component.

As of March 2026, 501 First is officially completed. The building received its Temporary Certificate of Occupancy (TCO) in December 2025 and began welcoming its first residents and guests in early 2026. The building is fully sold out from the developer, and the focus has shifted to a high-velocity resale and rental market.

Project Overview and Status

Architecture and Interior Design

Revuelta designed 501 First with an urban, transit-centric philosophy notably, the building does not have an on-site parking garage, encouraging the use of the adjacent Brightline and Metromover (valet services are provided via nearby Worldcenter lots).

The interiors, curated by Shim Projects, offer a “modern-bohemian” luxury feel. Every residence was delivered fully finished and furnished, featuring custom Italian cabinetry, Smeg appliances, and Hansgrohe fixtures in a matte dark finish.

Residence Features Table

Top-Tier Amenities (The Rooftop Social)

The building’s crowning jewel is its two-level, 20,000-square-foot rooftop amenity deck (Levels 39 and 40), offering 360-degree views of Biscayne Bay and the Miami skyline.

Amenities Table (Wellness, Social, and Transit)

Pricing and Investment Perspective (2026 Market)

Since the building is now open and operational, it is the primary target for investors seeking immediate cash flow from platforms like Airbnb and VRBO.

Current Market Estimates (March 2026 Resales)

Monthly HOA: Estimated at $0.95 – $1.25 per square foot, covering all building utilities, amenities, and 24/7 security.

Why Choose 501 First

• Instant ROI: No construction waiting period; units are ready for immediate short-term rental hosting.

• Masterful Management: Owners can choose self-management, third-party apps, or the in-house professional program.

• Transit Nexus: Located 1 block from the MiamiCentral Brightline terminal, making it ideal for the Orlando-Miami traveler.

• Designer Turnkey: The Shim Projects furniture package is specifically designed for high-durability hospitality use.

Why Partner With Us for 501 First

As the building transitions from “New Construction” to an “Active Community” in 2026, we provide our clients with “Post-Opening Revenue Audits.” We can compare the performance of specific unit lines (e.g., the East-facing 12-line vs. the West-facing 01-line) to help you choose the best resale value. We also assist with Airbnb license registration and tax compliance for new owners.