A joint venture between Mast Capital and a controlled affiliate of Starwood Capital Group, a leading global private investment firm, today announced the groundbreaking of The Perigon Miami Beach, the area’s first residential project designed by world-renowned architectural firm, Rem-Koolhaas’ OMA.

The building features expansive, coveted beachfront acreage and a premium, five-star amenity collection, including a residents-only restaurant and private speakeasy led by Michelin starred Chef Shaun Hergatt. The milestone positions The Perigon as the only beachfront new development on the market in Miami Beach under active construction, with occupancy slated for late 2026. Pricing starts at $4.5 million. Sales and marketing are exclusively handled by Douglas Elliman Development Marketing.

“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.”

Offering panoramic views of the Atlantic Ocean, the Miami city skyline and Biscayne Bay, The Perigon will rise 17 stories to deliver 73 residences with interiors by inimitable interior designer Tara Bernerd. Situated at 5333 Collins Avenue, the bespoke two- to four-bedroom light-filled homes will range in size from 2,100 to 6,700 square feet with direct and dual waterfront views, 10-foot ceiling heights and 10- to 12-foot-deep wraparound terraces for year-round indoor outdoor living. Taking inspiration from Europe’s famed rivieras, these estates in the sky will feature the highest-quality finishes including fluted natural stones, custom Italian cabinetry and a unique combination of refined materiality with a soft, natural color palette reflective of The Perigon’s prime coastal location.

“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.”

With an extended demolition driven by regulatory changes now complete and construction underway, The Perigon’s unique, cutting-edge architecture by OMA will soon come into view. The award-winning firm designed the tower as a “series” of buildings converged into one, rotated to orient and enhance views from all residences toward the Atlantic Ocean, while still optimizing the scenery of Biscayne Bay and the Miami city skyline overlooking Miami Beach. The building will appear to only gently touch the ground, maximizing space for the gardens below. The landscape design is envisioned by Gustafson Porter + Bowman, the firm responsible for redesigning the green space at the Eiffel Tower and delivering the powerful Princess Diana Memorial Fountain in London’s Hyde Park.

“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,” said Andrew Coren, Managing Director of Starwood Capital Group. “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.”

In addition to impeccable design, The Perigon offers world-class service and more than 20,000 square feet of unrivaled private amenity spaces that encapsulate its idyllic waterfront setting. An oceanfront restaurant, intimate speakeasy and a conservatory with a daily breakfast bar led by Michelin-starred Chef Shaun Hergatt will be exclusively available to residents. Additionally, a sunrise lounge and terrace are accessible for private events and entertaining guests and loved ones. Residents can enjoy a beachfront 25-meter lap swimming pool, private beach club, and a fully landscaped deck complete with cabanas, sunbeds and poolside food and beverage service. Additional amenities include a spa with sauna and treatment rooms, private salon, ocean-view fitness center, children’s playroom, screening room, wine room, guest suites and a dramatic double-height lobby lounge. These spaces will be activated by a dedicated lifestyle concierge and residential butler. Residents can also take advantage of 24-hour security, valet, house car, pool and beach service, in-residence dining and more.