Following the commencement of construction this past spring, The Perigon Miami Beach, a joint venture condominium development on Miami Beach between Miami-based real estate development group Mast Capital and a controlled affiliate of Starwood Capital Group, a globally renowned private investment firm led by Barry Sternlicht, has closed $390 million in construction financing. This monumental achievement underscores the project’s exceptional quality and market appeal, marking a pivotal step forward in delivering what will be a landmark of architectural excellence and refined living. The Perigon Miami Beach broke ground in April 2024 spearheaded by general contractor Moss Construction and is slated for delivery in 2027.
The Perigon’s financing, one of the largest construction loans to close in Miami Beach over the last year, is being provided by Eldridge Real Estate Credit, a leading investor in real estate credit opportunities throughout the U.S., U.K., and Europe, including construction, bridge, and special situation opportunities across the capital structure.
“The successful closing of this landmark construction loan underscores the extraordinary momentum of The Perigon and the overwhelming market response it has garnered. We took great pride in bringing together a world-class team of architects, designers, and culinary visionaries to shape The Perigon Miami Beach into an iconic condominium that resonates with discerning buyers, drawn to its unparalleled beachfront setting and timeless sophistication,” said Camilo Miguel, Jr., Founder and CEO of Mast Capital. “The robust interest from the lending market further validates the strength of our sponsorship and cements The Perigon’s position as a defining statement in ultra-luxury living.”
With over 75% of residences sold, The Perigon’s sophisticated architectural design, world-class amenities, and exclusive location stands as a powerful testament to the team’s collective expertise and determination to redefine ultra-luxury living in Miami Beach.
“We are proud to partner with Mast Capital and Starwood Capital Group on The Perigon Miami Beach, a development that sets a new standard for ultra-luxury residences in Miami. This is a project that represents the exceptional, visionary real estate we seek to finance, and further underscores the continued growth and momentum of our business,” added Matthew Rosenfeld, Managing Director, Eldridge Real Estate Credit.
The ultra-luxury tower offers two- to four-bedroom residences ranging from 2,100 to 6,700 square feet, with eight private guest suites. Currently starting at just over $10 million, the residences are impeccably designed by acclaimed interior designer Tara Bernerd, featuring the finest finishes, expansive 10-foot ceilings, and 10- to 12-foot-deep wraparound balconies that frame direct water views. Sales and marketing are exclusively overseen by Douglas Elliman Development Marketing.
As the first Miami Beach residential project designed by internationally renowned architectural firm OMA, led by visionary architect Rem-Koolhaas, the diamond-shaped luxury condominium tower will feature 73 two- to four-bedroom residences offering breathtaking beachfront views. Nestled along the tranquil stretch of sand between Indian Creek and the Atlantic Ocean, The Perigon is situated at 5333 Collins Avenue in Miami Beach’s prestigious Mid-Beach neighborhood. With expansive beachfront acreage, unparalleled exclusivity, and an emphasis on privacy, it presents a lifestyle experience that is both rare and highly coveted.
The ultra-luxury condominium offers approximately 40,000 square feet of thoughtfully designed indoor and outdoor amenities, curated to elevate every aspect of lifestyle. Highlights include a private oceanfront restaurant and private speakeasy conceptualized by Michelin-starred chef Shaun Hergatt, who will oversee the property’s exclusive food and beverage offerings. Additional amenities feature an oceanfront swimming pool with cabanas, a serene spa with sauna and treatment rooms, a private salon, a fully equipped fitness center with panoramic ocean views, a children’s playroom, a screening room, a wine room, guest suites, and a striking double-height lobby lounge. These spaces are brought to life by a dedicated lifestyle concierge and residential butler, ensuring an unparalleled level of service. Residents will also enjoy 24-hour security, valet, house car service, pool and beach service, in-residence dining and more, offering a seamless blend of luxury and convenience.
Renderings via The Perigon Miami Beach
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