The Setai
101 20th Street, Miami Beach, FL 33139
The Setai is one of the few Miami Beach buildings with no minimum rental term. Owners can list nightly through the hotel program or independently — a structural difference that defines who buys here.
Three towers: the historic 1930s 8-story building, a 40-story residential tower, and dedicated hotel inventory. Beachfront, three pools, full hotel-grade service, restaurants, and spa included.
Building Snapshot
| Year Built | 2004 |
| Units | 163 condominium residences plus hotel inventory |
| Price / sqft | Approx. $2,500 – $4,000+ / sqft |
| HOA Range | Approx. $2.00 – $2.80 / sqft / month |
| Rental Rules | Daily rentals permitted (managed by hotel program optional) |
| Financing | Non-warrantable — cash or private/portfolio only |
| FHA Approved | No |
What Buyers Need to Know
- Daily-rental zoning is the entire investment thesis. If you don't intend to rent it out, the HOA and price-per-square-foot premium are difficult to justify versus comparable South of Fifth product.
- The hotel rental program takes a meaningful split — review terms carefully before assuming projected income figures.
- Conventional financing is effectively unavailable. Most transactions close cash; a handful of private banks will lend at 40%+ down.
- HOA covers an unusually broad service package (housekeeping, concierge, pool/beach service). Compare line-item against more conventional buildings before sticker shock.
Frequently Asked Questions
Can I rent my Setai unit on Airbnb?
Yes. The Setai is one of the few Miami Beach condominium buildings that permits daily rentals. Owners may rent independently or through the hotel program.
What does the hotel rental program take?
The exact split varies by program tier and current management agreement. Confirm directly with on-site management before underwriting any projected income — terms can change with operator.
Can I finance a Setai purchase?
Conventional Fannie/Freddie financing is not available. Most buyers close cash. A small number of private/portfolio lenders will consider 40–50% down, often only for primary residents.
Are pets allowed?
Yes, with restrictions on size and number. Confirm current rules with the HOA before bringing a pet — policies have changed historically.
Building data current as of May 2026. HOA fees, rental rules, and financing eligibility change — verify directly before making any offer.