501 First Residences
501 NE 1st Avenue, Miami, FL 33132
Full-service property management for a 40-story tower with no rental restrictions — daily rentals permitted on all platforms. Same developer as YotelPad Miami.
Inquire501 First Residences Property Management
501 First Residences is a 40-story tower at 501 NE 1st Avenue, developed by Aria Development Group and AQARAT — the same team behind YotelPad Miami. The building houses 448 fully furnished residences from studios to two-bedrooms (385–835 sq ft), designed by Revuelta Architecture International with interiors by Shim Projects. Closings began in late 2025.
As of April 2026, 501 First's classification permits daily rentals with no restrictions on frequency or platform. An optional in-house management program is available but not required. The building's rooftop amenity level features a 75-foot lap pool, open-air theatre, and 360-degree views. For a broader view of the Miami short-term rental landscape, see our Miami property management overview or explore Virestia Insights for in-depth market analysis. Virestia confirms current policy status as part of every engagement.
- Address
- 501 NE 1st Avenue, Miami, FL 33132
- Neighborhood
- Downtown Miami
- Classification
- Condo-Hotel
- Completed
- 2025
- Total Units
- 448
- Stories
- 40
- Unit Types
- Studios to two-bedrooms (385–835 sq ft)
- Developer
- Aria Development Group & AQARAT
- Architect
- Revuelta Architecture International
- Interior Design
- Shim Projects
- Pet Policy
- Pet-friendly with on-site pet lounge
- HOA
- Approximately $0.95 per sq ft
Why 501 First Requires an Operator.
Regulatory Landscape
The standard Miami-Dade licensing framework applies: Florida DBPR license, Certificate of Use, Business Tax Receipt, and tax registrations. As a recently delivered building, 501 First owners should ensure licensing is in place before or immediately after closing to avoid gaps between ownership transfer and legal rental operation. All registration numbers must appear in every listing. Virestia handles this timeline for every unit we manage.
Operational Reality
501 First shares the same developer and STR-optimized playbook as YotelPad — fully furnished units, no rental restrictions, platform-agnostic listing rights. The key difference is scale: larger units (up to 835 sq ft vs. YotelPad's 647 sq ft ceiling), higher entry prices, and an amenity package oriented toward rooftop resort living rather than the coworking-forward YotelPad model. With 448 units competing internally, rate optimization and guest experience are the primary differentiators.
501 First Residences — What Owners Need to Know.
Your Unit Deserves an Operator.
Virestia manages short-term rental properties at 501 First Residences with full compliance, dynamic pricing, and 24/7 guest operations.
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