As construction moves visibly forward at 5333 Collins Avenue, The Perigon continues to stand out as one of Miami Beach’s most architecturally ambitious and highly anticipated residential developments. And now, in 2025, the project is transforming from vision to reality—marking major construction milestones, attracting global buyers, and releasing a limited collection of ultra-exclusive residences as momentum builds.
Here’s a look at where The Perigon stands today, what’s coming next, and why this moment represents a unique opportunity for prospective buyers to get in ahead of the curve.
A Major Milestone Completed: Foundation and Vertical Construction Underway
As of early 2025, construction at The Perigon has reached a critical benchmark: the completion of its hydrostatic foundation slab. This step involved over 520 cubic yards of concrete and 60 tons of steel reinforcement—laying the groundwork for a structurally sound and storm-resilient tower. It’s a major advancement that sets the stage for full vertical construction, now visibly underway at the site at 5333 Collins Avenue.
The property’s unique design—crafted by the Office for Metropolitan Architecture (OMA), founded by Rem Koolhaas—features a sculptural tower, formed by a series of angled volumes that shift to enhance views and optimize light and privacy. That vision is now taking shape in real time, with the building’s tiered structure rising level by level along Millionaire’s Row.
$390 Million in Construction Financing Secured
In January 2025, developers Mast Capital and Starwood Capital Group announced the closing of a $390 million construction loan—one of the largest of its kind in Miami Beach. The financing, secured from Eldridge and arranged by JLL Capital Markets, underscores the strength and viability of the project in a competitive lending environment.
This substantial capital injection ensures continued momentum and allows The Perigon’s development team to maintain construction timelines, vendor coordination, and phased releases without compromise. For buyers, it’s a tangible signal of confidence and a safeguard that the project is well-positioned for delivery.
Next Phase: Structure, Facade, and Interior Build-Out
With foundation and early vertical construction complete, the next several months will focus on structural buildout, façade installation, and initial interior work on common areas and core mechanical systems.
Notably, the building’s angled massing and oversized terraces—some as deep as 12 feet—require a custom façade system engineered to match the tower’s curvature. This will be one of the defining visual elements of The Perigon and is expected to be installed in phases throughout 2025.
Concurrently, the amenity levels and lobby design—led by Tara Bernerd & Partners—will begin to take form, reflecting the coastal sophistication and warmth that define the project’s interiors.
Introducing The 01 Collection: Sky Villas at The Perigon
In early 2025, The Perigon unveiled a new tier of ultra-premium inventory: the ‘01 Collection’ Sky Villas. These residences, priced from $19.9 million, span over 6,000 square feet and offer 320-degree wraparound views of the Atlantic Ocean, Biscayne Bay, and Miami Beach’s skyline.
Each villa features expansive great rooms, multiple ocean-facing suites, oversized terraces, and direct elevator access. Positioned as the crown jewel of the building, these Sky Villas are a rare opportunity to secure scale, privacy, and panoramic views in one of Miami’s most architecturally significant new developments.
A Project Moving Forward—With Strong Demand
Construction progress isn’t the only indicator of momentum. The Perigon has also crossed a major sales milestone, with over 75% of residences sold as of Q2 2025. This includes both standard floorplans and custom layouts—many of which were reserved early in the process by discerning buyers seeking a turnkey oceanfront retreat.
The remaining inventory includes a mix of 2- to 4-bedroom residences and the newly launched Sky Villas, which are being released in limited phases.
Estimated Completion and Buyer Timeline
The Perigon is currently on track for completion in 2027, with key construction milestones scheduled throughout 2025 and early 2026. For buyers, this timeline offers a compelling window to secure a residence with maximum flexibility—whether for planning, customization, or long-term investment.
Those who act early also benefit from priority access to floorplans, finishes, and optional upgrades—making now an ideal time to begin a conversation about remaining availability and customization options.
Act Now to Experience The Perigon’s Rare Oceanfront Offering
The Perigon represents a rare opportunity to own along one of Miami Beach’s most exclusive stretches of oceanfront—where world-class design, privacy, and resort-level amenities come together in a way few properties ever achieve. Whether you’re seeking a primary residence, seasonal retreat, or long-term investment, this is a lifestyle defined by ease, elegance, and access to the very best of Miami Beach.
To learn more about current availability, pricing, and to schedule a private virtual or in-person presentation, send us a message. Our team brings deep experience in the ultra-luxury market and understands the nuances of acquiring high-value, design-forward properties.
While The Perigon is uniquely positioned in the market, we offer a thoughtful, discreet approach for buyers who may be exploring a range of exceptional residences. If you’re refining your search, we’re here to help you navigate it with clarity and confidence—starting with one of the most distinctive offerings in Miami Beach.
