Mast Capital and a controlled affiliate of Starwood Capital Group broke ground on The Perigon, a 17-story residential development at 5333 Collins Avenue, noted for its unique position as the only new beachfront condominium project currently under construction in Miami Beach, with completion anticipated for late 2026. Designed by the globally acclaimed architecture firm OMA with ODP Architecture & Design as the architect of record and boasting interiors by Tara Bernerd & Partners, this building will feature 73 private residences. These homes offer expansive views of the Atlantic Ocean, the Miami city skyline, and Biscayne Bay, alongside over 20,000 square feet of unparalleled private amenities and exclusive dining experiences by Michelin-starred Chef Shaun Hergatt. Moss Construction is the general contractor, and Malcolm Drilling is the foundation contractor.
“Breaking ground on The Perigon marks a new era for luxury living on Miami Beach – one that is characterized by sophisticated design and highly curated experiences,” said Camilo Miguel, Jr., CEO and Founder of Mast Capital. “We’ve partnered with some of the most brilliant visionaries in the world to create a new marvel located within the most coveted destination in the market. It’s evident by our tremendous sales that the concept is resonating with today’s discerning buyers.”
Credit: Mast Capital.
The residences range from two to four bedrooms, with sizes varying from 2,100 to 6,700 square feet. They are all designed to offer indoor-outdoor living with deep wraparound terraces and high-quality finishes, reflecting the project’s coastal location.
The Perigon. Credit: Mast Capital.
“We are excited to celebrate the start of construction for our first residential project in Miami Beach,” said Jason Long, Partner of OMA. “While designing The Perigon, we shaped the building and its façade to bring both the ocean and the Miami cityscape into the building, opening waterfront vistas for every residence. To maximize its beachfront acreage, the building will also step upward to ‘hover’ above the lush gardens Neil Porter has designed.”
The Perigon. Credit: Mast Capital.
The Perigon. Credit: Mast Capital.
Andrew Coren, Managing Director of Starwood Capital Group, expressed enthusiasm for the project’s impact, stating, “We are thrilled to mark the formal start of construction on The Perigon, which will become an iconic and unique landmark on Miami Beach that will elevate the standard for a beachfront residential experience. Working with our partners at Mast Capital and other talented collaborators, like OMA, we look forward to bringing the area’s most anticipated address to life.”
The Perigon. Credit: Mast Capital.
The Perigon’s extensive amenities include an oceanfront restaurant, speakeasy, conservatory with a breakfast bar, beachfront lap pool, private beach club, spa, fitness center, children’s playroom, and guest suites, among others, all aimed at delivering a holistic luxury living experience. Its Mid-Beach location provides residents with proximity to cultural, shopping, and entertainment venues, offering both seclusion and access to Miami’s vibrant lifestyle. Sales and marketing, with prices starting at $4.5 million, are managed exclusively by Douglas Elliman Development Marketing.
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Prices for the smallest units on the lowest floors facing the dumpsters start at $4.5 Million.