Project Snapshot
Completed398 NE 5th Street, Miami, FL 33132
Condominium tower with hotel services
646 residences
49 stories
resale from ~$489K
Completed 2022; occupancy 2022-2023
PMG (Property Markets Group) and Greybrook Partners
Every claim on this page links to a dated public source, verified October 2026.
This site has no live MLS feed. To confirm availability at The Elser Residences with Kelby, use the current listings page at /listings/, the booking calendar, or a direct call.
All of Downtown MiamiThe project in brief
The Elser Residences at a glance.
The Elser Residences (Elser Hotel & Residences) is a 49-story tower at 398 NE 5th Street in Downtown Miami, co-developed by PMG and Greybrook Partners as a conversion of a planned apartment tower. It holds 646 residences from studios to three-bedrooms, with resale pricing roughly $489,000 to $1,999,000. The tower was completed in 2022 with occupancy through 2023, and it is noted as Downtown Miami's first bayfront condo tower permitting daily and short-term rentals.
Status vocabulary: Unverified, Under Construction, Completed, Pre-Construction, Sold Out, Sales Released. Prices are reported by the linked sources on the dates shown and change often; nothing here is a guarantee of price, value, or completion date.
Identity
PMG and Greybrook's Downtown Miami conversion tower
The Elser Residences was co-developed by PMG (Property Markets Group) and Greybrook Partners as a conversion of the planned Society Residences Miami apartment tower, designed by Sieger Suarez Architects with Cotofana Designs on interiors. The 49-story building at 398 NE 5th Street sits on the edge of the Downtown Miami and Omni districts, overlooking Biscayne Bay from its amenity deck.
Pricing & availability
Resale from about $489,000, up to about $1,999,000
Resale listing ranges, 2024 through 2026
The developer sales phase has closed; the tower is delivered and trades on the resale market. Resale listings have run roughly $489,000 to $1,999,000 (with one broker citing $509,900 to $1,650,000), and unit sizes run about 341 to 1,533 square feet. These are dated asking figures, not guarantees. Current resale availability is confirmed directly with Kelby.
Architecture & design
Studios through three-bedrooms, roughly 341 to 1,533 square feet
The 646 residences include studios and junior suites, one-, two-, and three-bedroom layouts. The building was delivered in 2022 with occupancy through 2023, and its amenity deck of about 19,000 square feet overlooks Biscayne Bay.
Amenities
A 132-foot pool, restaurant and bar program, and coworking
- 132-foot resort-style pool with private lounges and a 16-foot LED screening wall
- Cocktail bar and restaurant by Jaguar Sun and a coffee lounge by Café Domino
- Two-level wellness center with outdoor yoga deck and sauna
- Coworking space
- About 19,000 square feet of amenity deck overlooking Biscayne Bay
- Garage occupying the tower's lower floors
Construction & timeline
Delivered 2022, occupancy 2022-2023
Completed · Completed 2022; occupancy 2022-2023
The tower finished construction in 2022 with occupancy through 2023, after the developers converted the planned apartment building to condominiums and short-term-rental product. The conversion and rental model were covered by Bisnow in February 2024. Current sales are resale only.
Location & access
The Omni-Downtown edge of Biscayne Bay
398 NE 5th Street sits where Downtown Miami meets the Omni district, close to the Biscayne Boulevard corridor, the Adrienne Arsht Center, and Museum Park. Brickell is a short drive south, and Miami International Airport is roughly 20 minutes by car.
Ownership & rules
Daily and short-term rentals permitted
The Elser is noted as Downtown Miami's first bayfront condo tower permitting daily and short-term rentals, with hotel-style services. The current condo fee schedule, rental management terms, and pet policy read Contact for current information and are confirmed with the building's management or with Kelby.
Buying through Kelby
Resale representation in a delivered tower
Kelby represents buyers at The Elser Residences on resale transactions from the first tour through closing, and buyer-agent commission is typically settled at closing rather than paid by you up front. Because this site has no live MLS feed, current resale availability is always confirmed directly with Kelby.
Project FAQs
Straight answers about The Elser Residences.
Is The Elser still selling new units?
No. The developer sales phase has closed and the tower is delivered; interest today is resale, and current availability is confirmed directly with Kelby.
Where is The Elser Residences?
It is at 398 NE 5th Street in Downtown Miami, near the Omni district, the Arsht Center, and Biscayne Boulevard.
Can I rent out an Elser unit short term?
Yes. The Elser is noted as Downtown Miami's first bayfront condo tower permitting daily and short-term rentals, with hotel-style services.
What sizes are the residences?
Studios and junior suites plus one-, two-, and three-bedroom layouts, roughly 341 to 1,533 square feet.
What is the resale price range?
Resale listings have run roughly $489,000 to $1,999,000 in 2024-2026 sources. Confirm the current market with Kelby.
Can Kelby represent me at The Elser?
Yes. Kelby represents buyers on resale transactions, with buyer-agent commission typically settled at closing. Current availability is always confirmed directly with Kelby.
Explore around The Elser Residences
The market context for this project.
Provenance
Information reviewed October 2026.
Every claim on this page is drawn from public research and linked to its dated source below. Figures such as asking prices, HOA fees, and completion dates change; where a field could not be verified it reads “Contact for current information” or “Not verified”, and the answer is one call away. Nothing on this page is a guarantee of price, availability, or completion date.
- Source
Bisnow, short-term rental conversion
February 2024: conversion and rental model
- Source
CondoHotelCenter, Elser Hotel & Residences
Amenities and floor breakdown
- Source
Miami Residential, The Elser
Floor plans and price ranges
- Source
Zilbert, Elser condos for sale
Address, units, resale prices
Each source above verified October 2026
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