The Real Deal Miami

Mast Capital buys Miami Beach land for residential project

Camilo Miguel-led company picks up nearly two acres in mid-Beach

October 07, 2014 11:15AM

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Camilo Miguel

Camilo Miguel

Mast Capital continued its recent acquisition flurry with the purchase of 1.87 acres in the mid-Beach section of Miami Beach.

The Camilo Miguel-led company plans to develop a luxury residential project on the 4000 Alton Road site, which has existing approvals for 162,000 square feet of residential space. Mast’s acquisition closed on Friday and has not been recorded by Miami-Dade County. The purchase price was not disclosed in Monday’s written announcement.

“The Miami Beach for-sale residential market is driven by a mix of international and domestic buyers who are attracted to the area’s lifestyle, culture and business-friendly investment climate,” Miguel said. “Extensive recent investment in mid-Miami Beach has made this area one of the most desirable places to live on the island.”

Other recent investments by Mast include the $29.5 million purchase of a Coconut Grove office building in April and the $39.5 million acquisition of a Key West multi-family community in June. — Eric Kalis

  • camilo

    This is a joke alreay, just add it to the stock pile of pre construction buidlingsby developers who create an imaginary market. How many international buyers do these developers think are out there lookng to buy in an area where they have choices like no other because every dumb developer is building the same thing, maybe a few more ammenities

    • jake

      ^ to be honest most people don’t care about amenities. Developers think they do. The buildings are all done as cheap as you can with materials from china stamped with Italy on it, like all of Jorge Perez’s buildings. These developers are a joke and they are all the same. Where are the true builders who have a passion for creating something for the people and not for their pocket?

      • CAMILO

        You don’t see them anymore or at least they are not in Miami the Capital city for fraud. They where a suit and shake hands with city officials for building awards so they can put it on their websites. people think they are doing something great, mean while they are building the same thing across the skyline inflating our market and can’t find a single real resident who can afford to pay 900K For

        SQF

        • jake

          Concrete Jungles. builders/developers had better quality work in the 50’s and 60’s than today. I guess the construction industry is going backwards in Miami.

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