501 First Residences

501 Northeast 1st Avenue, Miami, Florida 33132

501 First Residences is a 40-story, 440-foot condominium tower at 501 Northeast 1st Avenue in downtown Miami, and it arrives as a fully furnished building rather than a shell awaiting individual build-outs. Developed by Aria Development Group in partnership with AQARAT, the project holds 476 residences alongside 3,127 square feet of commercial space, with more than 400,000 square feet in total across the tower. Revuelta Architecture International served as architect and Shim Projects shaped the interiors, while Beauchamp Construction acted as general contractor and JGR Construction handled the shell. The timeline behind the building is unusually well documented: Aria Development Group acquired the site in 2015, unveiled plans in May 2021, and poured the mat foundation on June 30, 2023. Demand followed quickly. Roughly 95 percent of units were presold before construction began, a figure that says as much about the location as about the product itself. That location is the dense, walkable core of downtown Miami, where the address places residents inside the grid of offices, restaurants and transit rather than at its edge. Completion came in 2026, and the building now stands as one of the more fully realized additions to the district's newest residential generation. Because residences are delivered fully furnished, owners can move in or place a unit into use without furnishing it themselves, an arrangement that suits both end users and investors looking at downtown product. By the numbers, the 476 homes spread across 40 floors produce a lively, vertical building rather than an intimate one, and at 3,127 square feet the commercial component is small enough to read as a neighborhood convenience rather than a broader retail podium. Taken together, that scale, the presale velocity and the turnkey delivery define the proposition here for anyone comparing downtown towers on substance rather than on renderings.