After Securing $390M in Construction Financing, The Perigon Miami Beach Completes Beachfront Foundation Pour

Just over a year after the ceremonial groundbreaking, with Mast Capital diligently performing the development site work, The Perigon Miami Beach now has a solid physical foundation to complement its financial foundation. Located at 5333 Collins Avenue, Miami Beach FL, and will bring 73 ultra-luxury residences to the Miami Beach sand in 2027.

During the progress of the site work, Mast Capital was able to score a $390 million construction loan from Eldridge Real Estate Credit in order to finance the remaining work. As we have reported before, the acquisition of construction financing is a high indicator of the predicted success of the project. Since these loans are notoriously difficult to obtain, only the most successful projects are able to garner this financial reserve to ensure the completion of the development.

There were a number of viability factors that surely stuck out to the lenders when considering The Perigon. Of course, they would look at Mast Capital’s portfolio of past projects, which includes a menagerie of multifamily, hospitality, condominum and commercial projects throughout South Florida. They also looked at the current preconstruction contracts and deposits. Since The Perigon is currently over 75% sold, their deposits are very strong. They also surely inspected the project itself. Since The Perigon has an obvious unique value proposition and there is no other project like it, their construction financing was surely issued very easily.

The Foundation Pour

Over a span of 9 continuous hours, using 520 cubic yards of concrete soaking through 60 tons of reinforcing steel, The Perigon will soon rise vertically and bring a new era to “Millionaire’s Row” in Miami Beach.

The Perigon Miami Beach Build Site

The Perigon Miami Beach Reinforcing Steel Frame Work

The Perigon Miami Beach Concrete Trucks

The Perigon Miami Beach Foundation Pour Concrete Spreading

The Unique Value Proposition

I have waxed poetic about The Perigon ever since its launch as it was one of the first developments to truly embrace the “Stealth Wealth” phenomenon that Miami Beach embraces today. It offers the pinnacle of privacy and luxury with over 20,000 square feet of exclusive amenity space over 2 acres of beachfront.

Some of the amenities include an oceanfront restaurant helmed by the Michelin Starred Chef Shaun Hergatt, a private speakeasy, and exclusive perks that include a global concierge service.

The building was designed by starchitect Rem Koolhaus with interiors by the famed designer Tara Bernerd & Partners. Boasting a palette of white chocolate minimalism, the residences are decadent, calming and blissful with maximized views from each residence.

Rendering of The Perigon Miami Beach Oceanfront Day Pool

Rendering of The Perigon Miami Beach Private Speakeasy

Rendering of The Perigon Miami Beach Interiors

The layouts range from 2- to 4- bedrooms sized between 2,100 to 6,700 square feet.

We are so excited to see The Perigon come to fruition, not just for the developer but also for our valued clients who are eagerly awaiting their new homes in Residence 801, Residence 803 as well as Residence 1206.

Although the project is over 75% sold, purchase opportunities do remain, starting at $4.5 million. Delivery is anticipated in 2027.

Douglas Elliman is the exclusive broker for The Perigon Miami Beach. If you are interested in a private presentation of the project, with specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.

Images Courtesy of Mast Capital/The Perigon

Collaborators of The Perigon Miami Beach

• Architect: OMA – Office of Metropolitan Architecture, Founded by Rem Koolhaas
• Developer: Mast Capital & Starwood Capital / 5333 Collins Acquisitions, LP
• Interiors: Tara Bernerd & Partners
• Landscaping: Gustafson Porter + Bowman

The Perigon Miami Beach Features & Amenities

• 17-story oceanfront condo designed by highly-acclaimed architecture firm OMA
• Gold level LEED building certification
• Comprehensive amenity program for residents offering the best of beachfront living
• 200 expansive linear feet of beachfront
• Direct entry to the dedicated beach, equipped with lounge chairs, umbrellas and service
• Beachside swimming pool with cabanas and sunbeds
• Outdoor spa
• Pool and beach food and beverage services
• Signature oceanfront restaurant by a celebrated chef, exclusive to residents
• Sprawling conservatory offering daily breakfast bar
• Chic cocktail lounge and speakeasy
• Dramatic double-height lobby with lounge area
• Sunrise lounge with catering kitchen for entertainment and private events
• Private spa with saunas and treatments rooms
• High-tech fitness center with high-impact training room overlooking the Atlantic Ocean
• Bespoke wine room
• Residents’ salon for personalized beauty services
• Cinema
• Kid’s playroom
• Meditation lounge areas and intimate gardens overlooking the ocean
• 9 Luxury guest suites for family and friends
• Bicycle storage

Services at The Perigon Miami Beach

• Residential butler
• Dedicated lifestyle concierge
• 24-hour security and valet parking
• House car
• On-site general manger
• In-residence dining and catering from the signature on-site restaurant
• Pool and beachside food and beverage services
• Home management services from cleaning and maintenance to floral and grocery stocking

The Perigon Miami Beach Condo Features

• 73 signature OMA-designed residences, including 9 guest suites
• 2 to 4-bedroom layouts ranging in size from 2,100 to 6,700 square feet
• Direct, private elevator entrances to each residence
• 10-foot ceilings with floor-to-ceiling windows
• Private 10 to 12-foot-deep terraces offering stunning ocean views
• Open-concept living, dining and entertaining areas perfectly accented with linear cove lighting
• Italian kitchens custom designed by Tara Bernerd & Partners
• Kitchens feature honed marble countertops, backsplashes and islands and premium Sub-Zero and Wolf appliances
• Primary bathrooms boast natural stone flooring and wet walls, custom bathtubs, bespoke mirrors and light fixtures
• Each bedroom offers walk-in wardrobes

Downloads for The Perigon Miami Beach

• The Perigon Miami Beach – Fact Sheet

• The Perigon Miami Beach – Keyplan (Lobby Level & Resident Amenities)

• The Perigon Miami Beach – Keyplan (Second Level & Lifestyle-Wellness)

• The Perigon Miami Beach – Floor Plans (3rd Floor)

• The Perigon Miami Beach – Floor Plans (4th – 10th Floors)

• The Perigon Miami Beach – Floor Plans (11th – 15th Floors)