+14 more
About This Unit
The Elser Hotel and Residences will offer a lively, dynamic lifestyle for tastemakers of every stripe. Enjoy access to world-class entertainment, arts, and dining. It allows short and long term rental. LOCATION! Inverstors, this is your opportunity. Bay and skyline view. This unit is ready to start generating you income.
Pricing at Elser — $1,442/sqft
Elser Unit 1614 is listed at $1,442/sqft.
Building-level comparison data is thin for this bedroom count — see Recent Comparable Sales below.
Based on live MIAMIRE active & closed listings at Elser.
Time on Market — 927 days
Elser Unit 1614 has been on the market for 927 days.
Building-level pace data is thin for this bedroom count.
Price History
Originally listed at $998,500. Reduced to $958,800 on Mar 28, 2025 (after 563 days on market) — -4.0% (−$39,700).
Estimated Monthly Cost
Mortgage (P&I)
$5,207
HOA
$665
Property Tax
$0
Total / mo
$5,872
Assumes 7.20% rate on 20% down (30-year fixed).
Tax effective rate 0.00%.
HOA $1/sqft · All-in $8.83/sqft / month.
Excludes wind / flood / contents insurance — verify your actual rate with a lender.
Schedule your private showing at Elser.
Walk the unit with someone who knows this building inside out. Get pricing history, negotiation strategy, and the things the listing won't tell you.
That's (305) 337-4259 • Available 7 days a week
Insider Notes from Ricky
- Elser is a 47-story high-rise at 398 5th St, Miami, FL 33132, built 2022. Currently 55 active listings on the market, with active asking prices ranging up to $2.0M.
- Neighborhood: Downtown Miami. Downtown Miami covers Park West, Worldcenter, and Bayfront -- north of the Miami River, currently in the middle of a master-planned redevelopment that's reshaping the neighborhood through 2028. Lower density than Brickell, bayfront access, and Metromover (free) connecting the district to Brickell.
- Buyer profile here: Buyers willing to wait for the neighborhood to fill in -- tradeoff is lower price for the same building tier vs. Brickell.
- Built 2022 (4 years old).
- Entry-luxury condos with active asking prices up to $2.0M.
- At 47 stories, Elser is among the taller residential structures in Downtown Miami -- high-floor units typically command pricing premiums for unobstructed views.
- Compared anchor: Compared to Brickell (built-out financial district), Downtown is the bet on the next 4 years -- newer construction, 15-30% lower per square foot for similar building quality, less walkable today, more transformation per month.
- Rental rules vary per association in this market -- most Miami-Dade condos require 6 or 12-month minimum leases. Verify per-association before assuming Airbnb potential.
- Pre-offer diligence: Building selection matters more than neighborhood selection here. Look at construction completion timelines for adjacent Worldcenter projects -- they directly affect resale timing.
- Ricky has worked the Downtown Miami market for years and can pull HOA documents, recent comps, and reserve study status on any unit you're considering. Text (305) 33-RICKY -- that's (305) 337-4259 -- for a same-week walk-through.
What to Verify
Building Age: Built in 2022 (4 years old).
Ricky will verify all of the above with the HOA before closing.
💰 Current Owner's Cost Basis
The current owner bought this unit Oct 2022 for $912,000 — held 4 years. They’re now asking $958,800 — +5.1% (+$46,800) vs. cost basis.
Source: most recent qualified deed on file with the Miami-Dade Property Appraiser.
Sales History
| Date | Price | Type |
|---|---|---|
| Oct 2022 | $912,000 | arm’s-length |
Source: Miami-Dade Property Appraiser. This unit owns 0.1684% of the building’s common elements. County living area: 665 sqft.
Building: Elser
Unit: 1614
Year Built: 2022
Stories: 47
City: Miami
Postal Code: 33132
HOA Fee: $665 / Monthly
View: Bay
Waterfront: Yes
Private Pool: No
Heating: Central
Cooling: Central Air
Days on Market: 927
Listed: September 13, 2023
MLS #: A11452466
Location
Listing courtesy of: KWG Realty Group LLC
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A11452466
• Updated Mar 28, 2026
