Millionaires’ Row \u2014 the stretch of Collins Avenue between 44th and 59th Streets in Mid-Beach \u2014 has not seen a new oceanfront residential tower in over a decade. The Perigon at 5333 Collins Avenue is the only new development currently under construction on that stretch. That is not a marketing claim. It is a supply fact.<\/p>\n
Developed by Mast Capital and Starwood Capital Group, the 17-story tower contains 72 residences designed by OMA, the architecture firm founded by Pritzker Prize-winning architect Rem Koolhaas. Construction began in April 2024. The building topped out in March 2026 and is targeting completion in 2027.<\/p>\n
By the time the building topped out, more than 75% of residences had already been sold \u2014 with remaining inventory starting above $12 million. A $390 million construction loan from Eldridge Real Estate Credit was secured during the sales process, a signal of institutional confidence in both the project and the broader Mid-Beach market.<\/p>\n
For buyers and advisors tracking ultra-luxury condos in Miami Beach, The Perigon represents a straightforward scarcity argument: one building, one location, no comparable new product on the same stretch of shoreline.<\/p>","protected":false},"excerpt":{"rendered":"
Millionaires’ Row \u2014 the stretch of Collins Avenue between 44th and 59th Streets in Mid-Beach \u2014 has not seen a new oceanfront residential tower in over a decade. The Perigon at 5333 Collins Avenue is the only new development currently under construction on that stretch. That is not a marketing claim. It is a supply […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[56],"tags":[],"class_list":["post-3036","post","type-post","status-publish","format-standard","hentry","category-projects"],"yoast_head":"\n