“Growing up in this vibrant city and witnessing its evolution into the dynamic coastal metropolis it is today has been an extraordinary privilege,” says Camilo Miguel Jr., CEO of Mast Capital, about his hometown of Miami. Since he founded the development company in 2006, both the firm and the Floridian city have undergone a stunning evolution. The funding behind Mast Capital’s expansive portfolio has surged into the billions, and recent years have seen venture capital funding in Miami do the same.
Most recently, Mast Capital secured a $600 million loan to build Cipriani Residences Miami, a glass-paned, 80-story tower in the Brickell neighborhood.
The project is hotelier and restaurateur Cipriani’s first ground-up residence within the U.S., and the confluence of Miami style and Italian influence has resulted in a breezy construction, outfitted with sleek lounges, penthouses, and speakeasies that encourage indoor-outdoor living. Here, Miguel Jr. offers his insight into the changing landscape of the cultural mecca, straight from a man who has seen—and built—it all firsthand.
CULTURED: What is one thing you wish non-locals knew about Miami?
Camilo Miguel Jr.: Miami offers an unparalleled array of experiences, from its breathtaking beaches and rich cultural institutions to its distinctive fashion districts, art-adorned streets, and thriving culinary scene that stands unrivaled. The city provides virtually any experience one could desire, all within convenient proximity.
CULTURED: How have you seen Brickell change over time, and how do you expect this project to impact the local area?
Miguel: Brickell has undergone an incredible and elevating transformation over the past decade. Once a corridor of office buildings serving commuters, it has evolved into a vibrant, multifaceted waterfront community with a walkable live-work-play lifestyle.
Developments like Brickell City Centre have introduced high-end shopping and dining, while enhanced transportation options like the bright line have increased accessibility. Cipriani Residences Miami builds on this evolution with its sleek, all-glass design and luxurious lifestyle.
CULTURED: How will your $600 million loan, the largest single-tower construction loan obtained in Florida thus far, be reflected in the scale and scope of this project?
Miguel: Securing a $600 million loan for Cipriani Residences Miami is reflective of the strength of our organization and signifies a major milestone highlighting its tremendous success to date, due to the immense demand for ultra-luxury condominiums in the Brickell area with certainty of delivery.
We have assembled top-tier architectural and design talents to bring this vision to life ... embodied in the project’s bespoke residential offerings, five-star culinary experiences by Cipriani, expansive floor plans with curated interiors by 1508 London, and a distinctive curved façade by Arquitectonica.
CULTURED: What do you think makes Miami a particularly fruitful location for development? Have you seen perceptions of the area change over the course of your career?
Miguel: Miami has ascended as one of the world’s most desirable places to live, attracting global celebrities and notable companies alike, solidifying its reputation as a credible business and financial hub. The city’s economic evolution, driven by a diversified business landscape, positions it for sustained success.
Today, Miami represents the epitome of a booming metropolitan area, rich in cultural diversity and vibrancy. Our real estate market is the hottest in the country, and buyers now recognize Miami as much more than a haven for warm weather and favorable taxes, but also as a socially and culturally thriving city.
CULTURED: How do you work with Cipriani and the architectural team to see a project of this scale through from start to finish?
Miguel: Cipriani’s brand identity has been meticulously integrated from the project’s inception, capturing the essence of the original Harry’s Bar in Venice while ensuring a timeless design. Four iconic firms have brought Cipriani Residences Miami to life, each contributing international perspectives and expertise that uniquely qualify them to realize this extraordinary vision.
CULTURED: How does this project speak in particular to the types of residents you are seeing move into the Miami area?
Miguel: Cipriani Residences Miami is designed for the thousands of C-suite executives and high-level employees relocating to Brickell as companies like Citadel, Blackstone, Apple, Google, and Microsoft expand their presence. We cater to these discerning buyers by offering intimate, exclusive experiences with private dining, lounging, and meeting spaces in a highly curated, club-like environment.
Our speakeasy and the top-tier luxury of the Canaletto Collection on the upper floors, featuring priority amenities and custom furniture packages by 1508 London and Cipriani, epitomize the elevated lifestyle the residences offer.
