The Perigon Miami Beach Reaches Major Sales Milestone and Secures $390M Construction Loan
The Perigon Miami Beach, one of the most highly anticipated ultra-luxury residential developments in South Florida, has reached a significant sales milestone while securing a massive construction loan. Developers Mast Capital and Starwood Capital Group have announced that over 75% of the residences have already been sold, marking strong demand for this premier oceanfront property.
Further solidifying its progress, the development has secured a $390 million construction loan from Eldridge Real Estate Credit, ensuring the project’s continued momentum.
Designed by renowned architecture firm OMA, led by Rem Koolhaas, The Perigon will bring 73 exclusive beachfront condominiums to Miami Beach. With its bold architectural design and curated luxury offerings, the development is set to redefine waterfront living in the city.
Groundbreaking for The Perigon took place in April 2024, and completion is expected in 2027. Once finished, the tower will offer residents an unparalleled lifestyle, with world-class amenities, breathtaking ocean views, and impeccable service.
With its prime location, cutting-edge design, and impressive sales momentum, The Perigon Miami Beach continues to solidify its place as one of the most sought-after addresses in Miami’s luxury real estate market.
City of Miami Beach Planning Board Approves Terra’s Redevelopment Plans for The Deauville Beach Resort
David Martin’s development firm Terra, in collaboration with the Meruelo family, has received a significant approval from the City of Miami Beach’s Planning Board to move forward with the redevelopment of the former Deauville Beach Resort. The unanimous decision allows the developers to proceed with their vision of transforming the site at 6701 Collins Avenue into an elegant mixed-use project featuring two condominium towers and a partially reconstructed Deauville Beach Resort.
The approved plan includes a branded 100-unit condominium tower and a 150-room hotel, designed by Foster + Partners, Shulman + Associates, and ODP. This reimagined development reflects a strategic reduction from the originally proposed 570 residential units, favoring a more community-oriented design while preserving the area’s character.
Unlike previous proposals, the new plan does not require a public referendum, expediting the potential approval process and paving the way for construction to commence in 2026.
The Deauville Beach Resort, originally built in 1957, was a beloved Miami Beach landmark known for its Mid-Century Modern design and for hosting legendary performances, including The Beatles’ iconic 1964 appearance. However, after years of neglect, the structure was deemed unsafe and ordered for demolition in 2022.
Several redevelopment attempts have failed in the past. Notably, billionaire Stephen Ross and his firm Related Companies proposed a $500 million Equinox-branded development designed by Frank Gehry, but the project was ultimately rejected by voters due to zoning concerns.
Now, with this latest approval, Terra and the Meruelo family’s vision for the reimagined Deauville Beach Resort is one step closer to reality, promising to revitalize North Beach and contribute to Miami Beach’s evolving architectural landscape.
With the City of Miami Beach’s Planning Board approval secured, Terra’s team will move forward with securing necessary permits and refining their design. If all goes according to plan, construction will break ground in 2026, setting the stage for a transformative addition to Miami Beach’s waterfront skyline.
The Raleigh: A New Chapter in Miami Beach’s Luxury Real Estate
The Raleigh is poised to become one of Miami Beach’s most iconic developments, seamlessly merging historic preservation with modern luxury. SHVO has recently announced major progress, including the selection of a general contractor and the commencement of significant construction milestones. Located at 1775 Collins Avenue, this three-acre estate promises to elevate South Beach living with an unparalleled blend of art, design, and exclusivity.
The development’s centerpiece is a 17-story residential tower conceived by acclaimed designer Peter Marino. The design pays homage to Miami Beach’s Art Deco legacy while introducing a sleek, contemporary aesthetic. Adding to the allure, the historic Raleigh, Richmond, and South Seas buildings will be thoughtfully restored and incorporated into a 60-room Rosewood hotel.
SHVO has selected the Americaribe Moriarty Joint Venture (AMJV) as the general contractor for The Raleigh. This partnership, combining the expertise of Americaribe, LLC, and John Moriarty & Associates of Florida, has an impressive portfolio that includes the Perez Art Museum Miami and Brickell City Centre. Currently, excavation and piling work are underway, marking the transition from vision to reality.
Notably, The Raleigh is the first major project on Miami Beach’s “Billionaire’s Beach” to secure its full site building permit, setting the stage for a $1 billion development that is reshaping the luxury market.
With completion slated for 2027, The Raleigh will feature 40 ultra-luxurious residences ranging from two to five bedrooms. Each home is meticulously designed to maximize natural light and showcase panoramic views, with floor-to-ceiling windows and expansive terraces. Five penthouses will crown the property, offering residents unmatched exclusivity and elegance.
The amenities are equally impressive, with private residential lobbies, multiple pools, private cabanas, and access to the Rosewood Asaya Spa. Notably, the iconic fleur-de-lis-shaped pool and Martini Bar will be lovingly restored, preserving their historic charm.
The Raleigh’s dining offerings will set a new standard for culinary excellence in Miami Beach. The estate will debut Milan-based Langosteria’s first U.S. location, offering gourmet dining in the exclusive Beach Club. Guests and residents can also enjoy the restored Tiger Room restaurant and a signature Rosewood restaurant located within the historic South Seas building.
The Raleigh represents more than just a development; it’s a cultural landmark in the making. By combining thoughtful restoration, world-class design, and unmatched amenities, SHVO is setting a new benchmark for luxury in South Beach.
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.
Miami Beach Welcomes Its Tallest Tower: Five Park
Miami Beach has a new architectural crown jewel! Five Park, a 48-story luxury condominium tower standing at an impressive 519 feet, has officially taken the title of the tallest building in the city. The developers announced the tower’s receipt of its Temporary Certificate of Occupancy (TCO), signaling its readiness to welcome residents into a new era of upscale coastal living.
While Miami Beach celebrates this milestone, it’s worth noting that much taller skyscrapers grace the skyline across the causeway in the City of Miami. However, Five Park’s achievement represents a significant moment for Miami Beach, showcasing the city’s evolving architectural landscape.
Five Park offers a range of residences from one to four bedrooms, with prices starting at $1.5 million. The original plans called for 280 condominiums, each meticulously designed to exude sophistication and comfort. Complementing the residential spaces is an expansive 50,000 square feet of amenity spaces, ensuring residents enjoy a lifestyle of luxury and convenience.
A defining feature of the development is its integration with the adjacent three-acre Canopy Park, which opened in 2022. This lush green space was a crucial condition for the project’s approval, balancing urban development with community and environmental needs. Designed to enhance the outdoor lifestyle, the park has already become a beloved feature of the neighborhood.
Adding to the connectivity, the Daniel Buren-designed Canopy Bridge will soon break ground. This architectural marvel will link Canopy Park with the South of Fifth Baywalk, further enriching the area’s pedestrian-friendly appeal.
The realization of Five Park was a collaborative effort of some of the industry’s most visionary minds:
Arquitectonica: Led the architectural design, creating a structure that’s as functional as it is iconic.
Anda Andrei: Directed the design vision, ensuring cohesion and innovation throughout the project.
David Martin (Terra) and Russell Galbut (GFO Investments): The driving forces behind the development, turning the ambitious vision into reality.
Moss Construction: Brought the project to life with meticulous execution and timely delivery. Moss has also embarked on another prominent Terra project, the Villa Miami tower in Edgewater.
Five Park isn’t just a building—it’s a statement. From its record-breaking height to its seamless integration with nature and the community, this tower sets a new standard for Miami Beach’s skyline. With the Canopy Bridge on the horizon and the vibrant life surrounding it, Five Park is poised to redefine luxury living in Miami Beach.
Loews Corporation Secures $305 Million Refinancing for Miami Beach Resort
Loews Corporation is poised to receive a $305 million refinancing package for its premier oceanfront Miami Beach resort. The financing, which backs the 5-acre, 790-key hotel located at 1601 Collins Avenue, is being originated by Wells Fargo, National Association, and JPMorgan Chase Bank, as reported by Fitch Ratings. The transaction is expected to close on September 10th.
The 10-year, fixed-rate, interest-only loan will serve to refinance the existing $300 million debt and cover approximately $5 million in closing costs. Despite multiple inquiries, a spokesperson for Loews has not provided any comments on the matter.
Loews, which is led by the billionaire Tisch family, has a long-standing history with the property, having acquired it in 1998. The resort encompasses two towers, including the historic St. Moritz building and a 17-story tower. The property boasts approximately 46,000 square feet of meeting space, six food and beverage outlets, retail spaces, a pool, and cabanas. Among its dining options is the renowned Rao’s restaurant, which has become a key attraction for guests.
Fitch Ratings has valued the property at just over $400 million, translating to about $507,000 per key. With a loan-to-value ratio of 74 percent, the new financing will strengthen the resort’s financial foundation while ensuring its continued operation as a luxury destination in Miami Beach.
This refinancing follows a similar move earlier this month by BDT & MSD, a merchant bank created through the merger of Trott’s BDT & Company and MSD Partners, the private investment arm of Dell Technologies founder Michael Dell. The firm secured a $1 billion refinancing for the Boca Raton Resort & Club, a 1,047-key luxury hotel located at 501 East Camino Real in Boca Raton. Citi Real Estate Funding provided the two-year, floating-rate interest-only loan for that transaction.
The Miami Beach resort refinancing marks yet another significant investment in South Florida’s luxury hotel market, reflecting the region’s robust real estate and hospitality sectors. As Loews continues to enhance its premier properties, the future looks bright for this iconic oceanfront destination.
Miami’s Transformation: One Bayfront Plaza’s New Supertall Tower
Miami’s Building Department has issued a total demolition permit for the One Bayfront Plaza site at 100 South Biscayne Boulevard, marking a significant first step towards developing a new supertall tower in downtown Miami. Approved on March 27 and issued on June 25, this permit sets the stage for a major transformation in the heart of the city.
Currently, the site hosts a 19-story office building that occupies an entire city block, a significant presence in Miami’s downtown area. The demolition process, expected to take nine months to a year, will clear the way for a transformative project that will redefine the city’s skyline. Interior demolition has already begun, with B2 Group LLC handling the work under a permit valued at $2.4 million.
The property owner, Florida East Coast Realty (FECR), has ambitious plans for the site. They envision a landmark tower reaching 1,049 feet in height, featuring over three million square feet of mixed-use space. This includes class AAA office space, a luxury convention hotel, high-end residences, an upscale retail mall, and a parking garage, all offering 360-degree panoramic views over Biscayne Bay. Once completed, this tower will become Miami’s tallest building and the city’s second supertall, following the soon-to-rise Waldorf Astoria Hotel & Residences.
The new tower’s design is still under wraps, with previous concepts from renowned architects like Kohn Pedersen Fox and ODP Architecture & Design. While specific details are scarce, FECR has shared a low-resolution rendering of the proposed building, though the architect’s identity remains undisclosed.
Older renderings of supertall towers on the site:
One Bayfront Plaza, designed by ODP Architecture & Design.
One Bayfront Plaza, designed by Kohn Pedersen Fox and ODP Architecture & Design.
In recent years, the One Bayfront Plaza site has gained notoriety for its extensive graffiti. The abandoned building has served as a canvas for graffiti artists, particularly during major events like Art Basel. In December 2023, graffiti artists from around the world “bombed” the building, covering it with colorful tags and murals. This creative takeover highlighted the building’s vacancy and prominence as a visible site in downtown Miami, attracting both admiration and condemnation from the public.
The new tower is expected to bring significant economic benefits to the area, attracting businesses, tourists, and new residents. Its diverse range of uses aims to create a vibrant and dynamic environment, enhancing the appeal of downtown Miami as a premier destination for work, living, and leisure.
As the demolition process begins and the groundwork is laid for this new supertall tower, Miami is poised for a transformative development that will reshape its skyline and redefine its downtown area.
New Construction in Miami Beach-Ella Miami Beach
Following the announcement of 299 Minorca, an eight-story, mixed-use venture, the Constellation Group and Boschetti Group have unveiled their next ambitious project: Ella Miami Beach. This upcoming residential tower promises to bring a new level of luxury and modern living to Miami Beach.
Ella Miami Beach is set to be a 10-story residential tower featuring 95 condominiums. Ella Miami Beach will offer a variety of living spaces, ranging from studio to two-bedroom layout plans, with unit sizes spanning from 434 to 1,076 square feet.
Residents of Ella Miami Beach will enjoy a plethora of amenities designed to enhance their living experience. The homes will feature expansive outdoor terraces, plank-style flooring, and various high-end finishes that provide a touch of elegance and comfort.
Amenities:
A rooftop swimming pool
A pickleball court
A fitness center
Additional offerings to cater to a modern lifestyle
These features are sure to provide residents with ample opportunities for recreation and relaxation. Condo sales for Ella Miami Beach began in June 2023, and the development has already seen significant interest, with 36 percent of the units sold. Although construction has not yet started, the project’s website anticipates completion by the first quarter of 2026.
Ella Miami Beach is not just about residential living; it will also include 2,200 square feet of retail space, adding convenience and vibrancy to the area. The high-rise has been designed by the internationally renowned, Miami-based firm Arquitectonica, ensuring a striking and modern architectural presence.
The developers purchased the 25,000-square-foot parcel for Ella Miami Beach in February 2023 for $5.5 million. The site is located at 6940 Abbott Ave, Miami Beach, FL, 33141, in the vibrant Miami-Dade County.
Ella Miami Beach is set to become a landmark of luxury and modern living in Miami Beach. With its high-end amenities, stunning design, and prime location, it offers a promising new option for residents seeking the best in Miami Beach living. Stay tuned for more updates as this exciting project progresses towards its anticipated completion in early 2026.
Introducing Villa17- A Paradigm of Luxury Living in Miami Beach
Miami Beach, renowned for its vibrant energy and luxurious lifestyle, is about to witness the dawn of a new era in upscale living with the launch of Villa17. Developed by Regency Development Group in collaboration with the visionary architect Kobi Karp, Villa17 emerges as an exclusive enclave of opulent townhomes at the coveted corner of 17th and Jefferson Avenue.
With just 10 meticulously crafted residences, Villa17 sets a new standard for sophistication and urban living in Miami Beach. Each townhome, designed by the esteemed firm Yodezeen, boasts 4 bedrooms, 4.5 bathrooms, and an array of upscale features, starting at $3,500,000. The interiors are a testament to exquisite taste, with customizable options that reflect the discerning preferences of today’s luxury buyers.
What sets Villa17 apart is not just its prime location but also its commitment to unparalleled luxury. Residents will revel in the exclusivity of their own private elevator, granting access to a secluded rooftop retreat. The attention to detail is evident throughout, with Poliform kitchens and closets, Antonio Lupi bathrooms, and state-of-the-art Miele appliances adorning each home. Security and convenience are paramount, with private 2-car garages ensuring peace of mind amidst the bustling cityscape.
Spanning 2,500 to 3,000 square feet, the floor plans of Villa17 boast expansive 10-foot ceilings, framing panoramic views of Lincoln Road or the meticulously landscaped garden terrace. The customizable sky decks offer residents the opportunity to tailor their rooftop oasis to their exact specifications, further elevating the luxury living experience.
Villa17 represents a harmonious fusion of convenience and sophistication, redefining luxury living in Miami Beach. With its exquisite design, prime location, and customizable features, Villa17 stands poised to captivate those who seek the ultimate in urban elegance amidst the vibrant energy of Miami Beach.
Exploring the Future: Miami Beach’s Mixed-Use Project Proposal
Miami Beach, renowned for its vibrant culture and stunning beaches, is often a hub for innovative urban development. Recently, the city’s Planning Board has been abuzz with anticipation as they prepare to review a groundbreaking proposal: a five-story, mixed-use project set to transform a familiar landscape.
At the heart of this proposal lies a 30,000-square-foot site, currently serving as a parking lot for the adjacent CVS. However, if approved, this space will soon undergo a dramatic metamorphosis into a 60,000-square-foot marvel of modern architecture.
The project’s focal point will be the introduction of 38,805 square feet of office space, comprising a significant 64.7% of the total area. Complementing this commercial aspect will be 77 parking spots and 3,900 square feet dedicated to commercial use, promising a dynamic blend of work and leisure within the bustling cityscape.
The proposal also envisions a residential component, adding a touch of urban living to the mix. Eighteen townhomes, each spanning 1,980 square feet, will grace the landscape, accompanied by a charming 564-square-foot rooftop amenity deck. Positioned on the lower two floors, these residences will coexist harmoniously with the commercial spaces above, creating a vibrant community within the city’s fabric.
However, the project’s scope extends beyond mere construction – it seeks to honor the city’s rich history while embracing the future. 7410 LLC, the developer spearheading this endeavor, plans to breathe new life into the iconic CVS building, a relic from the 1950s. This revitalization effort will retain the building’s historical significance, preserving its original components for future generations to admire.
The CVS redevelopment is not just about aesthetics; it’s a testament to responsible urban planning. In addition to the 18 residences, the revamped building will offer 25 parking spots, over 8,300 square feet of retail space, and a rooftop pool, transforming it into a multifaceted destination for residents and visitors alike.
One of the most intriguing aspects of this proposal is its commitment to sustainability and preservation. By repurposing existing structures and incorporating green initiatives, the project aims to minimize its environmental footprint while maximizing its impact on the community.
Located at 7401 to 7425 Harding Ave in Miami Beach, FL, 33141, in Miami-Dade County, this ambitious venture represents a bold step towards the future of urban living. As the city’s Planning Board convenes to evaluate this proposal, all eyes are on Miami Beach, eager to witness the evolution of its iconic skyline.
Miami Beach’s mixed-use project proposal embodies the spirit of innovation and revitalization, promising to redefine urban living in the heart of this vibrant city. With its blend of commercial, residential, and historical elements, it stands as a testament to Miami Beach’s commitment to progress while honoring its rich heritage. As the project moves forward, it is poised to leave an indelible mark on the city’s landscape, shaping its future for generations to come.
The Raleigh is poised to become one of 
