Mast Capital and an affiliate of Starwood Capital Group recently secured $390 million in construction financing for The Perigon Miami Beach, a 17-story luxury condominium tower underway in Miami Beach’s Mid-Beach neighborhood. Eldridge Real Estate Credit provided the loan to the joint venture. 

Located at 5333 Collins Ave., general contractor Moss Construction broke ground on the Perigon in April 2024; delivery is slated for 2027. The tower will offer 73 two- to four-bedroom residences ranging from 2,100 to 6,700 square feet, plus eight private guest suites.  

Units start at just over $10 million, and over 75% have been sold. Douglas Elliman Development Marketing is handling sales and marketing. Tara Bernerd is the interior designer, and OMA is the architect.  

The Perigon offers about 40,000 square feet of indoor and outdoor amenities, including a private oceanfront restaurant and speakeasy by Michelin-starred chef Shaun Hergatt, oceanfront swimming pool with cabanas, spa with sauna and treatment rooms, private salon, fitness center with ocean views, children’s playroom, screening room, wine room, double-height lobby lounge and guest suites.  

“The successful closing of this landmark construction loan underscores the extraordinary momentum of The Perigon and the overwhelming market response it has garnered,” Mast Capital Founder and CEO Camilo Miguel Jr. said. “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.”   

Amenities include a private oceanfront restaurant and speakeasy by Michelin-starred chef Shaun Hergatt and a swimming pool with cabanas. Courtesy of The Perigon Miami Beach.