First & Fifth Real Estate For RentPreconstruction

Oak Row Equities has acquired 49 Northwest 5th Street in Downtown Miami, where it plans to develop First & Fifth, a 45-story multifamily tower. The site was purchased off-market for $38.5 million with seller financing and is located across from MiamiCentral Station, the hub for South Florida’s major train systems. The 700,000-square-foot tower is being designed by ODP Architecture & Design, drawing inspiration from Miami’s turn-of-the-century Venetian architecture while incorporating modern amenities. Colliers Executive Managing Director Mika Mattingly, Senior Associate Cecilia Estevez of the South Florida Urban Core Team, and Vincent Pastore of Pastore and Associates represented the seller in the transaction.

First & Fifth will yield 500 multifamily units with high-end finishes, impressive views, and a robust amenity package. The design includes prominent arches that blend with the project’s historical elements, inspired by the Doge Palace in Venice. The building will feature bright, airy spaces and open city views.

The development is near MiamiCentral Station, the central hub for Brightline, Metrorail, Tri-Rail, and the Metromover. This location is within Downtown’s growth path, close to MiamiCentral’s new office buildings, Miami Dade College’s Wolfson Campus, the federal courthouse, Miami Worldcenter’s restaurant and retail amenities, and the Miami Heat’s arena.