About Five Park Miami Beach
Developed by Terra and GFO Investments · Designed by Arquitectonica
Five Park Miami Beach is a 48-story waterfront condominium at 500 Alton Road, developed by Terra and GFO Investments and designed by Arquitectonica with interiors by Gabellini Sheppard. Completed in November 2024, the elliptical glass tower rises roughly 519 feet and is the tallest building on Miami Beach, with about 227 residences arranged in two associations — The Park and the higher Canopy Residences.
The building offers roughly 50,000 square feet of amenities, including a resort-style pool deck, spa, fitness center, restaurant, and a residents-only club, and sits beside the new Canopy Park — a botanical garden, playground, dog park, and event lawn. Residences range from one-bedroom homes to large full-floor and penthouse layouts, many with private terraces and bay or ocean views.
Building Fees & Assessments
MLS listings for Five Park Miami Beach have shown a median association fee around $2.58/sqft/month -- shown per square foot, not as a flat dollar figure, since that's comparable across unit sizes rather than skewed by whichever units happen to be listed right now. This is a point-in-time reference, not a live figure, and can change over time. Confirm the current fee for a specific unit before making an offer.
Specific reserve fund balances, pending special assessments, and financial statements aren't public MLS data -- request them directly from the condo association or your agent before making an offer.
Rental Potential
See the live "Monthly rental from" figure above for Five Park Miami Beach's current lowest asking rent, and the market snapshot's closed-lease count and median rent for actual rental demand over the trailing 12 months -- both update automatically, unlike a number written here. Specific rental rules -- minimum lease term, rentals allowed per year, and whether short-term/Airbnb-style rentals are permitted -- are set by the condo association and vary by building. Verify current rental restrictions directly with the association before buying as an investment.
Frequently Asked Questions
Is Five Park Miami Beach pet-friendly?
Yes, Five Park Miami Beach is generally pet-friendly. Verify current pet rules and any breed or weight restrictions directly with the building association before purchasing.
Can I rent out my unit at Five Park Miami Beach?
Long-term rentals are generally permitted at Five Park Miami Beach, though minimum lease terms and any short-term rental restrictions vary by building. Verify the current rental policy directly with the association before purchasing as an investment.
Where is Five Park located?
At 500 Alton Road, at the southern gateway to Miami Beach where Alton Road meets the South of Fifth and South Beach neighborhoods, on the Biscayne Bay side of the island. Lincoln Road, the Flamingo Park area, and the ocean beach are all a short ride or walk away.
Who built Five Park and when was it completed?
Five Park was developed by Terra and GFO Investments, designed by Arquitectonica with interiors by Gabellini Sheppard, and completed in November 2024. At 48 stories and roughly 519 feet it is the tallest building on Miami Beach.
What are The Park and Canopy Residences?
Five Park's homes are organized into two condominium associations, known as The Park and the higher-floor Canopy Residences. Each has its own governing documents and assessments, so confirm which association a specific unit belongs to and review its budget before you buy.
Reviewed by Carlos Olivares, FL License #3051724. Last updated October 2026.
