Downtown Miami's Short-Term Rental Powerhouse
| Developer | PMG & Greybrook Partners |
|---|---|
| Architect | Sieger Suarez Architects |
| Interior Design | Cotofana Designs |
| Year Built | 2022 |
| Stories | 49 |
| Total Units | 646 |
| Unit Types | Studios, 1-3 Bedrooms, Penthouses |
| Short-Term Rentals | Approved — no restrictions |
The Elser Hotel & Residences — originally marketed as Society Biscayne — is a 49-story, 646-unit tower at 398 NE 5th Street in the heart of Downtown Miami. Completed in 2022 by PMG and Greybrook Partners, it stands out for one key reason: unrestricted daily short-term rentals, professionally managed by a five-star hotel operator.
That makes The Elser one of the few condo towers in Downtown Miami where owners can legally operate units as hotel rooms — a significant income play that most competing buildings prohibit.
The Residences
- Studios — 400-500 sqft, efficient layouts with full kitchens
- 1-Bedrooms — 600-800 sqft, open floor plans with bay or city views
- 2-Bedrooms — 900-1,200 sqft, split layouts for privacy
- 3-Bedrooms — 1,300-1,700 sqft, corner units with wraparound views
- Penthouses — premium finishes, expansive terraces
All residences come fully furnished with in-unit washer/dryer, full kitchens, and smart home technology. Built-out California-style closets are standard.
Amenities
- Pool Deck — resort-style with giant TV, bar, grilling stations, and cabanas
- Two-Level Fitness Center — modern gym with daily classes, yoga platform
- Outdoor Theater Lawn — screening events on the amenity level
- 24/7 Concierge — full-service lobby with smart building technology
- EV Charging Stations — electric vehicle infrastructure in the garage
- Co-Working Lounge — dedicated workspace for residents
Location
The Elser sits one block from Waldorf Astoria Residences in Downtown Miami's most connected corridor. Bayfront Park and Bayside Marketplace are steps away. Kaseya Center (home of the Miami Heat) is a 5-minute walk.
- Brightline Station — 3 blocks (direct train to Fort Lauderdale, West Palm Beach)
- Brickell — 7-minute drive
- Wynwood — 12-minute drive
- Miami Beach — 15-minute drive
- MIA Airport — 20-minute drive
Who Should Buy
The Elser is built for investor-buyers who want hotel-style rental income from a fully furnished Downtown Miami unit. The unrestricted short-term rental approval is the building's defining asset — it turns every unit into a potential income property. Also attractive for remote workers and snowbirds who want a turnkey Miami base without the commitment of a traditional condo.
| The Elser | Lofty Brickell | Natiivo Miami | |
|---|---|---|---|
| Short-Term Rentals | Yes, unrestricted | Yes, licensed | Yes, managed |
| Year Built | 2022 | 2027 (est.) | 2023 |
| Units | 646 | 360 | 590 |
| Location | Downtown | Brickell | Downtown |
