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About This Unit
Discover a collection of exclusive residences at The Elser Hotel & Residences Miami, designed for vibrant and exceptional living. Sophisticated designs blend seamlessly with panoramic views of Biscayne Bay and Downtown Miami. Designed for modern living, it offers options for every need. A wide range of carefully curated amenities for recreation, relaxation, and inspiration. Fully furnished, two-bedroom apartment with floor-to-ceiling windows, an Ecobee smart thermostat, and smart keyless entry. Access to a wealth of amenities and proximity to world-class entertainment, art, and dining. The Elser offers a dynamic and lively lifestyle. Can sleep 8 people. 2 beds plus den two sofa beds Cryptocurrency transactions are possible.
Pricing at Elser — $1,246/sqft
Elser Unit 4417 is listed at $1,246/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 — 280 days
Elser Unit 4417 has been on the market for 280 days.
Building-level pace data is thin for this bedroom count.
Price History
Originally listed at $1,450,000. Reduced to $1,300,000 on Aug 14, 2025 (after 19 days on market) — -10.3% (−$150,000).
Estimated Monthly Cost
Mortgage (P&I)
$7,059
HOA
$0
Property Tax
$1,054
Total / mo
$8,113
Assumes 7.20% rate on 20% down (30-year fixed).
Tax effective rate 0.97%.
HOA $null/sqft · All-in $7.78/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
Flood Zone: This unit is in flood zone X. Outside the Special Flood Hazard Area — low-to-moderate risk; insurance optional but recommended.
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 Jan 2025 for $1,035,000 — held 15 months. They’re now asking $1,300,000 — +25.6% (+$265,000) vs. cost basis.
Source: most recent qualified deed on file with the Miami-Dade Property Appraiser.
⚡ Possible Flip
15 months ago the current owner paid $1,035,000. They’re now asking +25.6% over that — $265,000 more in 15 months.
🏛 Property Tax Reset
The current owner pays approximately $7,679/yr in property tax thanks to a $602,844 Save Our Homes assessment cap (Florida shelters long-time owners from market-value increases).
On purchase, your assessment resets to full market value — expect roughly $19,736/yr, about 2.6× the current owner’s bill.
Estimate uses Miami-Dade’s ~2% effective millage; your actual bill depends on the millage in the year you close and any homestead exemption you may qualify for.
Sales History
| Date | Price | Type |
|---|---|---|
| Jan 2025 | $1,035,000 | arm’s-length |
Source: Miami-Dade Property Appraiser. This unit owns 0.2641% of the building’s common elements. County living area: 1,043 sqft.
Building: Elser
Unit: 4417
Year Built: 2022
Stories: 49
City: Miami
Postal Code: 33132
View: Bay, Skyline, Water View
Waterfront: Yes
Private Pool: Yes
Heating: Central, Electric
Cooling: Central Air, Electric
Days on Market: 280
Listed: July 27, 2025
MLS #: A11847734
Location
Listing courtesy of: Xcellence
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A11847734
• Updated May 3, 2026
