The Perigon Miami Beach

The Perigon rises 17 stories and 72 residences at 5333 Collins Avenue in Mid-Beach, on an oceanfront parcel with 200 linear feet of private shoreline. OMA is the architect of record, with interiors by Tara Bernerd — a pairing that sets this apart from the hospitality-branded towers stacking up along the corridor. The sponsor is Mast Capital, in joint venture with Starwood Capital Group, an institutional partner whose presence matters when you're looking at construction risk.

Construction has topped off, with completion targeted for Spring 2027. The project is 79% sold at prices from $12.55M to $37M — a sell-through rate that puts it well past the anxious early-launch phase most pre-construction towers are still fighting through. A $390M construction loan from Eldridge Real Estate Credit is recorded against the project, the kind of institutional financing that removes a lot of the guesswork about whether this building gets finished.

Units span 2,100 to 6,700 square feet, priced from $12.55M to $37M. No $/sqft figure or neighborhood comparable band is published, so there's no clean way to benchmark this against other Mid-Beach product on paper — but with 79% of inventory already committed at these prices, the market has effectively set the number itself.

This is not an entry-level luxury building. As one broker covering the project put it: "If you would like a 3-bedroom residence for less than $6M, this will not be for you." Each residence gets a private elevator entrance and oversized terraces — the kind of detail that reads as considered rather than decorative, per brokers on the ground: "Perigon's design, besides being incredibly cool, is also very functional and well-considered."

The amenity set leans into the oceanfront site rather than around it: a beachside pool, 200 feet of private shoreline, and a training room that overlooks the Atlantic rather than a parking podium. Wellness runs to a spa with private garden terraces, treatment rooms with private saunas, and a salon offering personalized beauty services. A children's lounge is on the amenity list for families who want that without sacrificing the adult program elsewhere in the building.

Service is boutique-scaled: a dedicated lifestyle concierge, residential butler, in-residence catering from the building's restaurant, 24-hour security and valet. There's a speakeasy (FiftyThree), a screening room, and meeting rooms for buyers who work from home some of the time. One broker's caveat is worth repeating directly: "The building is boutique and will not have the same extensive services that you may experience in some of the hospitality brand buildings, such as Four Seasons." This is a 72-unit building, not a 300-key resort — that's the trade being made here.

The address sits on Collins Avenue in Mid-Beach, oceanfront, with no permitted tower-in-sightline or flood finding cited in what's published to date.

Mast Capital, founded in 2006 and based in Miami, is developing The Perigon in joint venture with Starwood Capital Group — an institutional partner whose balance sheet backs the project alongside the recorded $390M construction loan from Eldridge Real Estate Credit. That combination of an established local sponsor and a global capital partner is a meaningful signal on a project this size.

The evidence doesn't include a count of Miami-Dade condo towers Mast has delivered to date — a data gap rather than a mark against the sponsor, but worth asking sales directly for a track record. No litigation naming this project remains open.

Deposits are front-loaded: 20% at contract, 10% at groundbreaking, 10% at top-off, and the remaining 60% due at closing, with an estimated Q4 2026 closing date ahead of the Spring 2027 completion. That's 40% of your capital committed well before you take title, which is standard for a project at this stage of construction but still worth budgeting around.

Escrow terms above the statutory 10% floor are not published, nor are HOA dues or the rental/short-term policy. Ask for all three before your next deposit installment — none of these gaps reflect badly on the project, but none of them should be assumed either.

This is the strongest delivery file in its class: topped off, 79% sold, and recorded financing puts delivery risk (9.5) and market momentum (9.5) at the top of the scale. Location scores 9 on the strength of direct oceanfront frontage with no cited obstruction. Value (8) and liquidity (8) are supported by the OMA/Bernerd pedigree and boutique unit count, though the wide size spread (2,100–6,700 sqft) means resale depth will vary by tier. Buyer protection sits at 8 — construction stage has largely de-risked the front-loaded deposit schedule, though escrow and HOA disclosure remain open questions. Developer scores 7: institutional JV and drawn financing support it, but the sponsor's unresolved dispute at a separate building (Amethyst) tempers the number.

This suits a long-hold buyer or an end-user who wants a boutique, design-forward building over a hospitality-branded mega-tower, and who's comfortable committing capital ahead of a confirmed rental policy. It doesn't suit anyone shopping under $6M for a three-bedroom, or a buyer who needs full hotel-style services as part of the deal.