Mast Capital has secured a $390 million construction loan for the development of Perigon Miami Beach, a joint venture with Starwood Capital. The financing was provided by Eldridge Real Estate Credit and will be used to build the luxury condominium tower located at 5333 Collins Avenue in Miami Beach’s Mid-Beach neighborhood.
Construction on Perigon Miami Beach began in April 2024 and is expected to be completed by 2027. The project is being led by general contractor Moss Construction and designed by OMA. It will consist of a diamond-shaped tower with 73 residences ranging from two to four bedrooms, spanning from 2,100 to 6,700 square feet each. Prices for these units start at just over $10 million.
The condominium complex boasts approximately 40,000 square feet of indoor and outdoor amenities including an exclusive oceanfront restaurant and speakeasy lounge. Other features include an oceanfront swimming pool with cabanas, spa facilities such as sauna rooms and treatment areas, private salon services for residents’ convenience , fitness center access,a children’s playroom,a screening room,wine storage options,guest suites,and a stunning double-height lobby lounge area.
This news was originally reported on Connect CRE .
