Mast Capital buys Miami Beach land for residential project

Miami /
Oct.October 07, 2014 11:15 AM

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


Related Articles

arrow_forward_ios
A rendering of the Byron Carlyle Cultural Center, Jared Galbut and Keith Menin (Miami Beach City Commission, Google Maps)
It’s curtains for Galbut family-led proposal to redevelop Byron Carlyle Theater
It’s curtains for Galbut family-led proposal to redevelop Byron Carlyle Theater
James Star and The Caribbean at 3737 Collins Avenue in Miami Beach (Photos via Google Maps; Chewy)
Finance mogul linked to Crown family buys Miami Beach penthouse and cabana for $13M
Finance mogul linked to Crown family buys Miami Beach penthouse and cabana for $13M
 Matthew Whitman Lazenby with 7825 Atlantic Way (Blue Ocean Photography, iStock)
Bal Harbour Shops owner upgrades to oceanfront estate in Miami Beach
Bal Harbour Shops owner upgrades to oceanfront estate in Miami Beach
46 Star Island Drive (Google Maps)
Iacovelli finds a buyer for his Star Island mansion once asking $65M
Iacovelli finds a buyer for his Star Island mansion once asking $65M
Westime owner Jean Simonian and Washington Park Hotel. (Facebook via Westime and Washington Park Hotel)
Ladder Capital sells Witkoff’s Miami Beach hotel for $44M
Ladder Capital sells Witkoff’s Miami Beach hotel for $44M
Don Peebles and the Bath Club (Getty, Peebles Corp.)
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Vlad Doronin, Len Blavatnik and a rendering of Aman Miami Beach (Getty)
Aman Miami Beach secures another approval tied to luxury hotel and condo project
Aman Miami Beach secures another approval tied to luxury hotel and condo project
(Google Maps, Ritz Carlton)
Miami-Dade condo sales and dollar volume dip in mid-February
Miami-Dade condo sales and dollar volume dip in mid-February
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...