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About This Unit
INVESTOR OPPORTUNITY: Priced nearly 40% below the last sale! Fully furnished 3BD/3BA at The Elser Hotel & Residences with NO RENTAL RESTRICTIONS: Airbnb, short-term, and daily rentals all permitted. Enjoy stunning Downtown views from the wraparound balcony. Features 9+ ft ceilings, porcelain wood-style tile, sleek kitchen w/ Italkraft cabinetry, quartz counters, & stainless steel appliances. Exceptional amenities: cocktail bar by Jaguar Sun, Café Domino coffee lounge, 132-ft pool w/ private cabanas, outdoor theater lawn, LED movie wall, two-story wellness center w/ yoga deck + spa, co-working spaces, & sky lounge. Prime location steps from Bayfront Park, world-class dining, museums, Kaseya Center, Wynwood, & more. Schedule your tour today!
Pricing at Elser — $1,126/sqft
Elser Unit 1809 is listed at $1,126/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 — 11 days
Elser Unit 1809 has been on the market for 11 days.
Building-level pace data is thin for this bedroom count.
Estimated Monthly Cost
Mortgage (P&I)
$5,968
HOA
$1,501
Property Tax
$2,204
Total / mo
$9,673
Assumes 7.20% rate on 20% down (30-year fixed).
Tax effective rate 2.41%.
HOA $1.54/sqft · All-in $9.91/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 Feb 2023 for $1,770,800 — held 3 years. They’re now asking $1,099,000 — −37.9% (−$671,800) vs. cost basis.
Source: most recent qualified deed on file with the Miami-Dade Property Appraiser.
Sales History
| Date | Price | Type |
|---|---|---|
| Feb 2023 | $1,770,800 | arm’s-length |
Source: Miami-Dade Property Appraiser. This unit owns 0.2472% of the building’s common elements. County living area: 976 sqft.
Building: Elser
Unit: 1809
Year Built: 2022
Stories: 47
City: Miami
Postal Code: 33132
HOA Fee: $1,501 / Monthly
View: Bay, Intracoastal View, Ocean View, Direct Ocean, Skyline, Water View
Waterfront: Yes
Private Pool: No
Heating: Central, Electric
Cooling: Central Air, Electric
Days on Market: 11
Listed: April 20, 2026
MLS #: A12004294
Location
Listing courtesy of: Blackbook Properties
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A12004294
• Updated May 1, 2026
