The Real Deal Miami

Mast Capital launches sales for 3900 Alton in Miami Beach

78-unit project is the first U.S. condo project for Spanish architect Ricardo Bofill

February 15, 2016 02:15PM
By Katherine Kallergis

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Miami Beach developer Mast Capital has launched sales for 3900 Alton, a mid-rise condominium designed by Spanish architect Ricardo Bofill.

The eight-story, 78-unit development is the first condo project for Bofill in the United States, who heads Barcelona-based Taller de Arquitectura. Mast Capital, led by Camilo Miguel, bought the 1.9-acre parking lot by the I-195 ramp in Miami Beach, in October 2014. Talmudic University, a Jewish Orthodox yeshiva, sold the property for about $17 million.

Last fall, the Miami Beach Design Review Board approved the developer’s plans for 3900 Alton Road. The units, which will range from one-bedroom to four-bedrooms, include floor-to-ceiling windows, home automation systems, designer kitchens, 10-foot ceilings, open floor plans and direct elevator access. Square footage for units will be between 927 square feet and 2,182 square feet.

Fortune Development Sales is the project’s exclusive sales and marketing firm. Prices start at $790,000, according to a spokesperson.

In a statement, Miguel called the project “a heavily-amenitized residence that is an unparalleled value proposition where every detail of luxury living is considered, from curated art collections to a partnership with Nobu Eden Roc to a chauffeur service via house Tesla car.”

3900 Alton will also feature art collections and installations curated by ICart, according to marketing materials. Common amenities will include an elevated garden and amenities deck, a fitness center, kids play room, business center, a pool deck and electric vehicle charging stations.

Talmudic University originally had plans to build new dorms, apartments and classrooms until BB&T sought to foreclose on the entire 2.3-acre parcel. The foreclosure suits were eventually settled and Talmudic sold the parking lot to Mast Capital. The yeshiva still owns the adjacent site to the north.