Tag Archives: mast capital

Cipriani Residences Miami

Mast Capital Secures Record $600 Million Loan for Cipriani Residences Miami

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Cipriani Residences Miami

Miami’s real estate landscape is set to be transformed with the announcement that Mast Capital has secured a staggering construction loan of $600 million for the iconic Cipriani Residences Miami project. This historic achievement not only marks a significant milestone in Florida’s real estate history but also signals a new era of luxury living in the heart of Miami’s Brickell neighborhood.

The Financing Breakdown

Mast Capital, a prominent Miami-based developer, has successfully secured this monumental construction loan from Banco Inbursa, based in Mexico, and Ascendant Capital Partners, contributing $350 million and $250 million to the project. This collaboration has not only highlighted the confidence that these financial institutions have in the project but also underscores the rising demand for ultra-luxury residences in Miami’s thriving Brickell Financial District.

A Transformative Development in Brickell

Situated on the southern edge of Brickell’s bustling business district, Cipriani Residences Miami promises to redefine luxury living in this vibrant neighborhood. This groundbreaking project is the first-ever ground-up residence for the renowned Cipriani brand in the Americas. The highlight of this development is an 80-story luxury condominium tower boasting 397 residences, each offering breathtaking views of Biscayne Bay, the Brickell skyline, and Coconut Grove.

One of the project’s unique advantages is its strategic location, providing easy access to all Brickell destinations while benefiting from lower traffic density due to its proximity to the less congested southern areas of Brickell.

Developer’s Vision

Camilo Miguel, CEO of Mast Capital, expressed his excitement about the project, stating, “The unprecedented financing we have secured for this transformative development anchored in Brickell is a testament to the demand for an ultra-luxury condominium product in this neighborhood. We have assembled the highest caliber of architecture and design to execute this project and further solidify the position of Miami’s Brickell Financial District as a business and residential community.”

With the ongoing influx of new residents to Miami, driven by its cosmopolitan lifestyle, warm climate, and favorable tax environment, the demand for high-end residential properties like Cipriani Residences Miami is expected to continue its rapid growth.

Mast Capital’s Acquisition and Design

Mast Capital acquired the 2.8-acre site at 1420 S Miami Ave. for $103 million in December 2021, securing one of the last raw land parcels in Brickell capable of supporting such a large-scale, high-rise development. The condominium tower boasts a signature design by Bernardo Fort-Brescia of the renowned architecture firm Arquitectonica, as well as interiors crafted by the world-famous design firm 1508 London.

Luxurious Living at Cipriani Residences Miami

Starting at $1.7 million, Cipriani Residences Miami offers one- to four-bedroom residences ranging from 1,123 to 3,495 square feet, along with penthouses featuring private pools, with completion set for 2028. The Canaletto Collection, comprising six penthouses starting at $17 million, provides an even more exclusive experience, with private access to the tower’s speakeasy, dining spaces, and global concierge services.

Residents will have access to a wide range of amenities, including around-the-clock dining services by Cipriani, multiple swimming pools, a golf simulator, a pickleball court, a screening room, a library, a salon, a private dog park, a children’s playroom, and various à la carte services for a truly luxurious lifestyle.

Cipriani Residences Miami is poised to elevate luxury living in Brickell to unprecedented heights, and its development is sure to be closely watched by the real estate industry and luxury lifestyle enthusiasts worldwide. As the project takes shape and the Miami skyline continues to evolve, it’s evident that this prestigious development will play a pivotal role in shaping the city’s future. Stay tuned for updates on this monumental project as it progresses towards completion in 2028.

3900 Alton Road Development in Miami Beach

3900 Alton Road Development Tops Off Construction

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3900 Alton Road Development in Miami Beach

Mast Capital, together with its partner Rockpoint, has recently celebrated a significant achievement in their construction project at 3900 Alton Road. This new nine-story building in Miami Beach, a creation of renowned Arquitectonica with landscape design by Within Hults + Partners, introduces 178 upscale units to the market.

The project, managed by Kaufman Lynn Construction as the general contractor, was recently highlighted in a LinkedIn video marking its topping-off ceremony. JGR Construction, Inc. and US American Concrete are handling key structural and concrete aspects of the construction, with Coastal Metal and AKO Plumbing Corp contributing to the metalwork and plumbing, respectively. Additionally, two tower cranes from Morrow Equipment and formwork solutions from Doka USA are in place, while NV5, Inc. oversees construction materials testing.

Funded by a $64 million loan from PNC Bank in November 2022, the groundbreaking of this Miami Beach residential project set the stage for its anticipated completion. The first units are expected to be available by Fall 2024, in line with Mast Capital and Rockpoint’s aim to offer high-quality living spaces in a sought-after South Florida neighborhood.

Camilo Miguel Jr., CEO of Mast Capital, expressed his enthusiasm about the project, emphasizing its unique position in the Miami Beach real estate market, known for its limited availability of developable land. Unlike most new developments in the area that focus on properties for sale, this project targets the growing demand for luxury rental housing.

The building’s design features a blend of luxury and functionality, offering studio to three-bedroom apartments with high-end finishes like Italian cabinetry, porcelain flooring, and spacious balconies. The development also boasts amenities such as an elevated pool deck with bay views, BBQ and outdoor gaming areas, fitness and yoga studios, a resident lounge, co-working spaces, and a pet washing station.

Dan Domb, Managing Member at Rockpoint, also highlighted the importance of this development. He noted the strong demand for premium rentals in Miami Beach and the partnership’s strategy to invest in multifamily residences in the high-demand, limited-supply South Florida housing market.

Mast Capital’s significant role in Florida’s real estate scene is underscored by its diverse portfolio, which includes various residential and commercial properties across the region. The firm’s ambitious growth strategy involves acquisitions totaling over $3.5 billion in project capitalization and developing more than 4,000 residential units in South Florida’s Fort Myers and Tampa metro areas.

The Perigon Miami Beach Elevation

Revealed: The Perigon Miami Beach

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The Perigon Miami Beach Elevation
The Perigon Pool Restaurant and Pool Cabana

Mast Capital and Starwood Capital Group have officially launched sales of The Perigon, a luxury condo development planned for an oceanfront site in Miami Beach located at 5333 Collins Avenue.

After the City of Miami declared the existing La Costa Condo tower unsafe last summer, Mast Capital bought out the remaining units in an effort to move forward with The Perigon. The City of Miami’s declaration came shortly after the collapse of the Champlain Towers South in Surfside. Mast owns approximately 88.5% of the current tower leaving 14 unowned.

In June 2021, Mast filed the development plans for the property and the official approval came in December 2021. Rem Koolhaas is named as the architect for the project while Tara Bernerd is listed as the interior designer. The design resembles a series of towers merged together allowing the residents optimal views of Biscayne Bay, Miami skyline, and the Atlantic Ocean

The development will rise 17 stories and feature 83 total units, with 10 of those units labeled as ‘guest suites,’ which will only be available to purchase by unit owners.

The Perigon Miami Beach Elevation from the Beach

Units will range from 2 to 4 bedroom floor plans with 2,100 to 6,700 square foot options. Units will start at $3 million and will feature a number of luxury amenities and residence features.

Services

  • Residential butler
  • Dedicated lifestyle concierge
  • 24-hour security and valet service
  • House car
  • On-site general manager
  • In-residence dining and catering from a signature on-site restaurant
  • Home management services from cleaning and maintenance to floral and pantry stocking (available for additional costs)

Tower Amenities

  • Signature oceanfront restaurant by a celebrated chef exclusive to residents
  • Beachside swimming pool and outdoor spa with sunbeds and cabanas
  • Pool and beachside food and beverage service
  • Direct entry to the dedicated beach, equipped with lounge chairs, umbrellas, and service
  • Sprawling conservatory offering daily breakfast bar
  • Stylish cocktail lounge and speakeasy
  • Dramatic double-height lobby with open lounge area
  • Luxury guest suites for friends and family
  • Sunrise lounge with catering kitchen for entertaining and events
  • Private spa with sauna and treatment rooms
  • A state-of-the-art fitness center with a high-impact training room overlooking the Atlantic Ocean
  • Bespoke wine room
  • Private salon for personalized beauty services
  • Screening room
  • Imaginative children’s playroom
  • Intimate garden and meditation lounge areas overlooking the Atlantic
  • Bicycle storage

Residence Features

  • Direct, private elevator entry to each residence
  • Gracious 10-foot ceilings with floor-to-ceiling windows
  • Private 10- to 12-foot-deep terraces designed to provide direct views of the Atlantic from every residence
  • Expansive living, dining, and entertaining area accented with linear cove lighting
  • Custom Italian kitchens designed by Tara Bernerd & Partners featuring honed marble countertops, backsplash, and island
  • Sub-Zero Wolf Appliance Suite
  • Primary bathrooms feature natural stone flooring and walls, custom bathtub, bespoke mirrors, and light fixtures
  • Walk-in wardrobes in each bedroom

The building is expected to top off in 2024 with a completion date in 2025. If you or someone you know have an interest in purchasing at The Perigon Miami Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

The Perigon Miami Beach Aerial View
The Perigon Miami Beach Pool to Ocean View
The Perigon Miami Beach Lobby
The Perigon Miami Beach Spa
Mast Capital Announces New Tower in Brickell

Mast Capital Unveils Plans for a 3 Tower Development in Brickell: Cipriani Residences Miami

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Mast Capital Announces New Tower in Brickell
Renderings for Brand Residences in Brickell

Another development has just been announced and this one is massive. Coming in at 2.6 million square feet, plans for this 3 tower development in Brickell have been revealed: Cipriani Residences Miami. Developer, Mast Capital paid $103 million mark this transaction as one of the largest in Miami-Dade in 2021.

Mast Capital’s proposal for the site involves a master-planned development that will comprise of 400-unit condominium tower and two more high-rises totaling 850 premium apartment rentals, created in collaboration with Rockpoint Group.

The property located at 1420 S. Miami Ave, has been inactive for over 15 years following two failed development initiatives. This property is one of the last remaining raw pieces of land accessible in the vicinity to undertake a project of this magnitude.

New Tower Announced in Brickell

Development Information:

  • One 80 story condo tower
  • Two multifamily towers (one at 50 stories and one at 60 stories)
  • 1,250 residential units
    • 400 condo units
    • 850 rentals
  • 1,650 parking spaces
  • Ground floor retail

For this specific project, Mast Capital has partnered with a private real estate equity firm, Rockpoint, which will be responsible for the multifamily component. Mast Capital will be utilizing MSD and CanAm for financing. Arquitectonica will be the architect for the proposed tower.

The developer is expecting a sellout of approximately $1 billion. The groundbreaking is anticipated for the end of 2022 with a top-off date in 2025.

Renderings for Brand Residences