Mast Capital: The Developer Behind Cipriani, Banyan Tree, and The Perigon Miami Beach
Mast Capital doesn’t build many buildings. It builds the right buildings. The Miami-based developer, led by Camilo Miguel Jr., has built a reputation for identifying undervalued or underdeveloped sites in South Florida’s most supply-constrained corridors and executing developments that redefine the pricing ceiling for those submarkets. The firm’s projects are characterized by bold architectural choices, international brand partnerships, and a willingness to wait for the right site rather than chase volume.
Camilo Miguel Jr. and Mast Capital’s Philosophy
Mast Capital was founded by Camilo Miguel Jr., a Miami-based developer who previously worked at a major South Florida development firm before launching his own platform. Miguel has spoken publicly about a development philosophy rooted in patience and selectivity — taking fewer projects and concentrating resources on making each one exceptional rather than building a high-volume portfolio.
This approach has produced a track record defined more by quality than quantity. Mast Capital’s three active flagship projects — Banyan Tree Residences West Palm Beach, The Perigon Miami Beach, and Cipriani Residences Miami — are each positioned at the upper tier of their respective submarkets and have consistently attracted buyers who prioritize design and brand prestige over more conventional luxury amenity programming.
The Portfolio: Three Flagship Projects
Banyan Tree Residences West Palm Beach
Mast Capital’s most architecturally significant project is Banyan Tree Residences West Palm Beach — a collaboration with OMA (Office for Metropolitan Architecture, led by Rem Koolhaas) with interiors by Yabu Pushelberg, targeting 2028 delivery. The project brings the Banyan Tree wellness brand’s global hospitality philosophy to West Palm Beach in a building designed by one of the world’s most conceptually ambitious architecture firms. The OMA + Yabu Pushelberg combination makes Banyan Tree WPB the most design-prestigious development in the current West Palm Beach pipeline — and one of the most architecturally significant in all of South Florida.
The Perigon Miami Beach
Mast Capital is also developing The Perigon Miami Beach — a boutique ultra-luxury oceanfront tower on Miami Beach’s Mid-Beach shoreline designed by OMA (Rem Koolhaas) with interiors by Tara Bernerd & Partners. The Perigon is one of the most architecturally significant oceanfront projects in the current Miami Beach pipeline — a low-density, high-exclusivity building with a relatively small unit count that positions it firmly in the ultra-luxury boutique category. The OMA commission is notable as the firm’s first oceanfront residential tower in Miami Beach, bringing Rem Koolhaas’s conceptual architectural intelligence to a site type — the Atlantic Ocean shoreline — that has historically attracted more conventional luxury tower design. Pricing at The Perigon starts above $5 million, targeting a buyer profile that prioritizes architectural prestige, Miami Beach oceanfront scarcity, and the building’s deliberately intimate scale over the larger-format branded towers dominating Sunny Isles Beach.
Cipriani Residences Miami: The Urban Flagship
Cipriani Residences Miami is Mast Capital’s most high-profile urban development — an approximately 80-story, 397-unit tower in Brickell designed by Arquitectonica that brings the Cipriani family’s globally recognized hospitality brand to Miami’s financial district in residential form.
The Cipriani name carries remarkable weight among a specific demographic of ultra-high-net-worth buyers — those who have dined at Harry’s Bar in Venice, attended Cipriani events in New York, or stayed at a Cipriani property and understand the brand’s combination of Italian culinary heritage, formal service culture, and social prestige. The residential project translates those values into a full amenity stack: a private Cipriani restaurant exclusive to residents, event programming, concierge services, and Cipriani’s distinctive Italian aesthetic throughout the building’s common areas.
At approximately $2.34 million entry-level pricing and a 2028 delivery target, Cipriani Residences Miami is positioned to attract both domestic buyers — particularly those establishing Florida residency from New York, where the Cipriani brand is extremely well-known — and international buyers from Europe and Latin America who recognize the Cipriani name from its global restaurant and events portfolio.
The Brickell Advantage for Mast Capital
Mast Capital’s choice to anchor its flagship project in Brickell reflects a clear-eyed assessment of where South Florida’s luxury market is heading. Brickell is Miami’s fastest-growing luxury submarket, with a deepening ecosystem of financial firms, professional services, fine dining, and retail that is attracting a profile of buyer — working-age, income-earning, domestically relocating — that is different from the second-home and investor profiles that have historically dominated Sunny Isles Beach and Miami Beach.
The Cipriani brand serves this Brickell buyer particularly well. The brand’s New York identity — Harry Cipriani at The Sherry-Netherland, the Rainbow Room events, the 55 Wall Street venue — speaks directly to the Manhattan-to-Miami migration story that is driving the current Brickell cycle. A New York buyer who has attended Cipriani events for 20 years is already predisposed to trust the brand’s residential quality before they ever tour the sales gallery.