Mast Capital and Starwood Capital Group Secure $390 Million Construction Loan for The Perigon Miami Beach

In a monumental achievement for Miami Beach real estate, Mast Capital and Starwood Capital Group have successfully closed a $390 million construction loan for The Perigon Miami Beach. This milestone marks a critical step in the development of this ultra-luxury condominium, set to redefine refined beachfront living.

Construction for The Perigon Miami Beach began in April 2024, with completion anticipated in 2027. This iconic project is a collaboration 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. General contractor Moss Construction is spearheading the project, ensuring the highest standards of craftsmanship and quality.

The Perigon is set to become a landmark of architectural excellence and sophistication, boasting world-class amenities, breathtaking design, and a prestigious beachfront location. With over 75% of residences already sold, it’s clear that this development has captured the market’s attention.

The $390 million construction loan is one of the largest secured in Miami Beach over the past year. Provided by Eldridge Real Estate Credit, a leading investor in real estate credit opportunities, the financing highlights the market confidence in The Perigon’s vision and appeal.

Designed by the internationally acclaimed architectural firm OMA, led by visionary architect Rem Koolhaas, The Perigon will be the first Miami Beach residential project from the firm. The striking diamond-shaped tower will feature 73 two- to four-bedroom residences ranging from 2,100 to 6,700 square feet, all offering sweeping beachfront views. Prices start at just over $10 million.

Renowned interior designer Tara Bernerd has meticulously crafted the residences with the finest finishes, including expansive 10-foot ceilings, 10- to 12-foot-deep wraparound balconies, and direct water views. Residents will also have access to eight private guest suites, adding an exclusive touch to their lifestyle.

The Perigon Miami Beach will offer approximately 40,000 square feet of thoughtfully curated indoor and outdoor amenities. Highlights include:

• A private oceanfront restaurant and speakeasy conceptualized by Michelin-starred chef Shaun Hergatt.
• An oceanfront swimming pool with cabanas, a serene spa with sauna and treatment rooms, and a private salon.
• A fully equipped fitness center with panoramic ocean views, a children’s playroom, and a screening room.
• Additional amenities such as a wine room, double-height lobby lounge, and a dedicated lifestyle concierge and residential butler service.

Residents will also enjoy 24-hour security, valet, house car service, pool and beach service, and in-residence dining, ensuring an unmatched level of luxury and convenience.

Located at 5333 Collins Avenue in Miami Beach’s exclusive Mid-Beach neighborhood, The Perigon is nestled along a tranquil stretch of sand between Indian Creek and the Atlantic Ocean. With expansive beachfront acreage and an emphasis on privacy, this development offers a lifestyle experience that is both rare and highly coveted.

The Perigon Miami Beach represents the pinnacle of modern luxury living. With its world-class design, exclusive amenities, and breathtaking location, this development is poised to become a defining icon in Miami Beach real estate.

Okan Tower Reaches Major Milestones: Sales Surpass 60% and Construction Advances

Okan Tower, the highly anticipated mixed-use skyscraper in the heart of Downtown Miami, has hit two significant milestones, according to the developer, Okan Group. Sales have now exceeded the halfway mark, reaching an impressive 60%, while construction has advanced to the 12th floor following the completion of a sprawling 290,000-square-foot parking podium.

Bekir Okan, the visionary behind the project, expressed excitement over the progress. “We are thrilled to see Okan Tower’s incredible momentum as it takes shape,” he said. “Achieving this sales milestone underscores the demand for its world-class offerings and Hilton Hotels & Residences’ services. With the tower now reaching the 12th floor, we are one step closer to delivering a sophisticated landmark that will elevate living in the heart of Miami’s dynamic downtown.”

Buyers from across the globe have been drawn to Okan Tower’s unique blend of luxury, functionality, and prestige. The growing list of international owners includes individuals from Argentina, Mexico, the United States, Colombia, Turkey, Spain, and Denmark, showcasing the project’s worldwide appeal.

With construction crews completing one floor per week, the project is advancing rapidly. Work has now commenced on the hotel levels, bringing the iconic structure closer to its final form. Once completed, the tower will rise to 70 stories, or 902 feet, making it one of the tallest buildings south of New York City.

Okan Tower promises to be a transformative addition to Miami’s skyline. The mixed-use complex will include:

• A 316-key Hilton Miami Bayfront Hotel, delivering unparalleled hospitality and amenities.
• 236 condo-hotel units managed by Hilton, blending luxury living with top-tier services.
• 163 Sky Residences offering sophisticated living spaces and breathtaking views.
• 64,000 square feet of Class A office space catering to the needs of modern businesses.

As Okan Tower climbs higher, anticipation continues to build for this architectural marvel. Its world-class offerings, coupled with its strategic location in Downtown Miami, are set to redefine luxury living and working in the city. With sales momentum strong and construction progressing steadily, Okan Tower is well on its way to becoming a landmark destination.

Oak Row Equities and Mariposa Real Estate Acquire Prime Waterfront Property in Brickell for $520 Million

In a landmark transaction set to redefine South Florida’s real estate landscape, Oak Row Equities and Mariposa Real Estate have finalized an agreement to acquire Aimco’s coveted 4.25-acre waterfront property at 1001 and 1111 Brickell Bay Drive. Valued at $520 million, this acquisition marks the largest single land purchase in South Florida history and is scheduled to close in the fourth quarter of 2025.

This prime site, boasting 485 feet of uninterrupted Biscayne Bay frontage, is zoned for over three million square feet of development. It is ideally suited for the construction of ultra-luxury condominiums, poised to meet the increasing demand for high-end residences in Miami’s thriving Brickell neighborhood.

“The Brickell Bay Drive assemblage presents a once-in-a-lifetime opportunity to build a transformative project in the most exciting submarket in the City of Miami,” stated Erik Rutter, Managing Partner at Oak Row Equities. “A perfect blend of zoning, site geometry, bay frontage, and location combine to create a truly irreplaceable piece of real estate. We are thrilled to be at the helm of such an important project.”

The flexible zoning of the site permits the construction of multiple towers reaching heights of up to 1,049 feet, making it a one-of-a-kind development opportunity. Oak Row Equities aims to leverage this potential by creating a landmark project that not only redefines Miami’s iconic skyline but also sets new standards for urban luxury.

“Waterfront property of this caliber, size, and scale demands the best in design, and we intend to collaborate with world-class talent to bring our vision to life,” said David Weitz, Managing Partner at Oak Row Equities. “Each one of our projects to date has helped elevate and transform their respective submarkets. With this opportunity, we will bring our unique blend of placemaking and design to the Brickell Bay Drive assemblage and deliver an unmatched product to meet the growing sophistication of the Miami market.”

Mariposa Real Estate, known for its expertise in luxury developments, has partnered with Oak Row Equities on this transformative endeavor. Together, the two firms share a commitment to delivering a groundbreaking product that epitomizes luxury living.

“We are excited to be partners with Oak Row Equities on this amazing opportunity,” said Sam Franklin of Mariposa Real Estate. “We share a vision for delivering best-in-class product and believe there is no better site in Miami to do so.”

As Miami continues to cement its reputation as a global luxury hub, the development at 1001 and 1111 Brickell Bay Drive promises to be a game-changer. With unparalleled bayfront access, the project is set to attract discerning buyers seeking exclusivity, sophistication, and world-class amenities. This historic acquisition underscores the confidence that leading developers have in Miami’s future as a premier destination for luxury real estate.

Brickell’s Skyline Set to Evolve with New 39-Story Residential Tower

The transformation of Miami’s Brickell neighborhood continues as plans for a new 39-story residential tower move forward. Located just a block from Brickell City Centre, this development promises to bring both luxury and community enhancements to the area.

The developer, working on the site of the recently demolished Starlite Motel, has officially signed a public benefits agreement to secure the project’s approval. Recorded on December 10, the agreement paves the way for development under Miami-Dade’s Rapid Transit Zoning plan.

As part of the agreement, the developer has committed to a series of public benefits:

• $500,000 Contribution: A payment to Miami-Dade County, earmarked for repairs or upgrades to the Brickell Metrorail or Metromover stations.
• Workforce Housing: Five percent of the tower’s residential units will be income-restricted for workforce renters, addressing the need for affordable housing options in the area.
• Tree Planting Initiative: The developer will plant 40 trees at least 20 feet high either on the property or within the surrounding right-of-way, in addition to the required landscaping.
• Pedestrian Connectivity: A cross-block passage will provide pedestrian access between SW 7th Street and SW 8th Street, enhancing walkability.
• Utility Line Upgrades: Telecom wires on the property will be buried at the developer’s expense, improving the aesthetic and infrastructure.

The planned development includes:

• 517 Apartments: Offering a range of residential options to accommodate Brickell’s growing population.
• Restaurant Space: 9,700 square feet dedicated to dining establishments.
• Parking Facilities: A six-level garage with 506 parking spaces.

A construction permit for the tower was filed in August, with Suffolk Construction serving as the contractor. The estimated construction value stands at $190 million, highlighting the significant investment in the project. Chicago-based Focus is leading the development, with the world-renowned architectural firm Gensler at the helm of the design.

As approval for the project hinges on the fulfillment of public benefit commitments, the developer’s proactive approach signals a win-win for both the community and investors. This 39-story tower is set to redefine the local skyline while contributing to the enhancement of Brickell’s urban environment.

ELLE Residences Miami: A Bold Fusion of Fashion, Design, and Lifestyle

Reviving the Deauville: A Vision for North Beach’s Future

The iconic Deauville Hotel, a cherished piece of Miami Beach history, is set to rise again—this time with a modern twist. In a presentation to a city board last week, developers Terra and the Meruelo family unveiled exciting new details and renderings for the redevelopment of the North Beach landmark. The plans promise a bold reimagining of the site, blending historic charm with innovative design.

A Glimpse at the New Deauville

Demolished in 2022, the original Deauville Hotel will be reborn alongside two new condominium towers. This ambitious project will be brought to life by an esteemed design team, including Foster + Partners, ODP, and Shulman + Associates. Together, they aim to create a development that respects the area’s heritage while elevating its modern appeal.

Breaking Boundaries with Tall Towers

One of the most striking aspects of the proposal is the developers’ request to build the new condo towers at an impressive 400 feet—double the current height limit. This bold move reflects the grand vision for the property, though it will require special permission from the city.

Reducing Density for a Better Experience

While the towers’ height may increase, the overall density of the project will be reduced. Current zoning allows for up to 977 hotel rooms and accessory uses, but the proposed changes would cap the development at 280 hotel rooms and 140 multifamily residential units. Additionally, the rebuilt hotel tower will include some residential units, and the number of hotel rooms will be significantly lower than the original.

Enhancing the Community Experience

The proposed plans go beyond just buildings; they aim to enhance the pedestrian experience and the surrounding community. Key improvements include:

• Wider Sidewalks: Designed to be more pedestrian-friendly, these sidewalks will feature retail spaces and food and beverage outlets to create an active streetscape.
• Underground Driveway: To reduce surface-level congestion and improve walkability, a buried driveway will provide a seamless solution for vehicular access.
• Landscaped Walkway: Connecting Collins Avenue to the beachwalk, this green pathway will offer residents and visitors a serene transition from city streets to the shore.

What’s Next?

The Miami Beach Planning Board is scheduled to hold a hearing on February 4 to discuss the project further. This comes after deferring a decision during their last meeting. The presentation has already sparked significant interest, with both excitement and questions about the scale and scope of the development.

The revival of the Deauville is more than just a redevelopment project; it’s a symbol of North Beach’s evolution. With a commitment to preserving the area’s character while introducing thoughtful modern elements, this new chapter for the Deauville promises to redefine luxury living and hospitality in Miami Beach.

Casa Gianna Brings Vibrant Italian Dining to Gale Miami Hotel & Residences

Downtown Miami’s culinary scene is about to get a flavorful upgrade with the arrival of Casa Gianna, an exciting new Italian dining concept opening at the newly launched Gale Miami Hotel & Residences. Officially debuted on November 18th, 2024, Casa Gianna promises a welcoming and authentic experience, seamlessly transitioning from a cozy café vibe in the morning to a lively dining destination by evening.

Developed in collaboration with the renowned global hospitality brand Zouk Group, Casa Gianna is poised to become a must-visit for both locals and visitors. Russell Galbut, Owner Representative of Gale Miami Hotel & Residences, highlights the significance of the restaurant’s launch.

“Casa Gianna sets Gale Miami apart as a key destination, especially with our proximity to the Miami Worldcenter. Working with Zouk Group has been instrumental in shaping Casa Gianna, which is just the beginning of our vision for the property’s culinary offerings.”

At the heart of Casa Gianna is Executive Chef David Caceres, whose innovative approach combines the rich tradition of Italian cuisine with a modern twist. The menu promises to be a gastronomic delight, featuring standout dishes like:

• Pappardelle Alla Rosa De Ricotta: A comforting dish with brown butter sage.
• Crusted Pistachio Chilean Seabass: Paired with a flavorful tomato puttanesca sauce.
• Artisanal Pizzas: Handcrafted in a custom Wood & Stone pizza oven, with highlights including the indulgent Ai Funghi e Tartufata pizza.

For diners with dietary preferences, Casa Gianna ensures inclusivity with gluten-free and vegetarian options. Casa Gianna’s opening further elevates the Gale Miami Hotel & Residences as a premier destination within Downtown Miami’s burgeoning Miami Worldcenter district. Whether you’re seeking a morning espresso, a business lunch, or a vibrant dinner spot, Casa Gianna is set to offer an unparalleled dining experience that captures the essence of Italy in every bite.

Two Roads Development Joins Harvey Hernandez for One Brickell Riverfront Project Along Miami River

In an exciting development for Miami’s skyline, Two Roads Development has partnered with Harvey Hernandez’s Newgard Development Group for the highly anticipated One Brickell Riverfront project. This transformative three-tower development along the Miami River will span 2 million square feet and is valued at $1.5 billion, according to a press release.

Two Roads Development, led by Taylor Collins and Reid Boren, has acquired a 50-50 stake in the project. Collins and Hernandez, who have shared a 15-year friendship, saw this partnership as the perfect synergy.

“We’ve looked at a lot of deals together; he’s been working on this deal for a long time,” said Collins. Hernandez added, “It became apparent that the ideal thing to do was to collaborate on the whole thing.”

This collaboration reflects a growing trend in Miami’s development scene, where rising construction costs and interest rates have pushed developers to bring in equity partners.

Construction on the first phase, Lofty Brickell, is already in motion. The 44-story, 363-unit condominium is set to rise at 99 Southwest Seventh Street. The building, which is 94 percent presold, will feature 40,000 square feet of luxurious amenities, including:

• A marina
• Social club
• Pool deck
• Cigar lounge
• Co-working space

Additionally, Avra Estiatorio, a celebrated Greek restaurant, will occupy over 10,000 square feet at Lofty Brickell, offering a 300-seat dining room with outdoor seating and riverfront views.

Lofty and a second branded condo tower are expected to be completed by the third quarter of 2026.

The One Brickell Riverfront project represents a bold vision for Miami’s future. With Taylor Collins and Harvey Hernandez sharing a unified outlook, the development promises to redefine the riverfront experience. Hernandez likened the partnership to a marriage, highlighting the trust and shared goals between the two firms.

Two Roads Development brings a wealth of experience to the collaboration. The firm has completed prestigious projects like Elysee Miami and Biscayne Beach in Edgewater. Currently, it is working on the Edition Residences in Edgewater, although that project has faced legal hurdles related to the termination of the Biscayne 21 condo building.

For Newgard, the success of Lofty Brickell adds to its portfolio, despite past challenges with other projects, including Natiivo Fort Lauderdale.

The collaboration between Two Roads and Newgard comes as the Miami River sees increased development activity. On the north side of the river, KAR Properties and Fortune International Group have partnered on the Faena-branded One River Point.

As new luxury projects reshape the Miami Riverfront, One Brickell Riverfront is poised to be a standout development, blending world-class design, amenities, and a vibrant urban lifestyle.

Midtown Miami’s Skyline Set to Transform with Proposed 35-Story Mixed-Use Tower

Plans have just been filed for an impressive 35-story tower set to rise across from Midtown Miami. This ambitious project, designed by the renowned architectural firm Arquitectonica and developed by Cymbal DLT, brings a refreshing blend of aesthetics, practicality, and community-focused design.

The tower’s design promises to add a striking visual element to Midtown Miami’s skyline. Arquitectonica’s plan employs vertical frames arranged in a wave pattern, adding a dynamic touch that stands out from the cityscape. The architecture is both modern and sophisticated, intended to capture attention while harmonizing with the neighborhood’s vibrancy.

This project is designed under Florida’s Live Local Act, which encourages developments that offer affordable housing options. As part of this commitment, exactly 40% of the residential units will be income-restricted studio apartments, making the development accessible to a broader demographic.

The proposed tower will rise 400 feet and comprise a mix of residential, commercial, and office spaces, balancing urban living with business amenities. Key features include:

• 598 Residential Units – thoughtfully designed to cater to diverse needs.
• 18,108 Square Feet of Commercial Space – providing retail and dining opportunities.
• 4,547 Square Feet of Office Space – ideal for small businesses and professionals.
• 654 Parking Spaces – including a 30% parking waiver request to support a more sustainable and pedestrian-friendly development.

The development’s residential layout reflects thoughtful planning and versatility. Of the 598 units, 66% will be below 650 square feet, catering to those seeking smaller, more efficient living spaces. The breakdown is as follows:

• Studios: 41%
• 1-Bedroom Units: 30%
• 2-Bedroom Units: 20%
• 3-Bedroom Units: 10%

This mix ensures a variety of options for individuals and families alike, meeting the needs of Midtown Miami’s diverse community.

The project is scheduled for a hearing before the Urban Development Review Board on November 20th, where stakeholders will have the opportunity to discuss the design and details of this promising development.

This proposed 35-story tower represents the ongoing growth and transformation of Midtown Miami. By blending stunning architectural design, affordability, and convenience, Cymbal DLT and Arquitectonica are setting a new standard for urban living. The inclusion of income-restricted units, commercial, and office spaces reflects a commitment to creating a sustainable, inclusive community that will benefit residents and visitors alike.