Quick answer: Two things here need settling before price is even discussed. The rental rule is reported as “rentals allowed for up to six months”, a phrase that could mean a six-month maximum, which would be permissive, or a six-month minimum, which would be restrictive and match the rest of Miami Beach. Those are opposite conclusions from the same sentence. And the residence count is quoted as 73 in some places and 82 to 83 in others, depending on whether guest suites are counted. Both are answered by the declaration and neither should be assumed.
A sentence with two opposite meanings
Every other building in this series states its rental rule as a floor: no lease shorter than 30, 60, 120 or 180 days. This one is reported as “rentals are allowed for up to six months”, which reads as a ceiling.
| Reading | What it would mean | How it compares |
|---|---|---|
| Six-month maximum | short and medium stays permitted, long tenancies barred | unusually permissive for Miami Beach |
| Six-month minimum | one annual tenant, nothing shorter | matches Five Park, Murano Grande, Faena House territory |
These are not shades of the same rule. One permits a furnished seasonal business; the other forbids it entirely. A buyer who models the wrong one has modelled a different building.
There is a third possibility worth naming: some associations cap the total period a residence may be let in a year, which would make six months a genuine ceiling on annual letting while still imposing a separate minimum stay. That structure exists and it is rarer than either simple reading.
Resolve it the same way as always. Obtain the recorded declaration and every amendment, read the clause in full rather than in summary, and get written confirmation from the sales office or management. Then verify the City of Miami Beach position for this address separately, because the city restricts short stays across most of its territory regardless of what any association permits, and the penalty falls on the owner.
At a $13.75 million entry, a misunderstanding of this clause is an expensive misunderstanding.
Seventy-three residences, or eighty-three
Sources give the residence count as about 73, and others as 82 to 83 including guest suites. The difference is not cosmetic.
Guest suites in a luxury condominium are usually rooms owned by the association and made available to residents’ visitors, rather than separately owned residences. Whether they are counted in the total changes:
| Affected by the count | Why |
|---|---|
| Per-owner share of common expenses | fewer owners means a larger share each |
| Voting weight | allocation is per residence |
| Future assessment per residence | same divisor problem |
| Reserve funding per owner | same again |
Take the number from the declaration’s schedule of units and percentage of ownership, not from a marketing sheet. That schedule states exactly how costs and votes are allocated and it is the only version that governs.
Either way this is a very small building. At 73 residences it sits alongside Monad Terrace at 59 and Muse at 68 as one of the smallest in the series, with the same consequence: every fixed cost and every capital project divides across a handful of owners.
Residences on floors 3 to 15 of 17
That detail is worth pausing on. In a 17-storey building where residences occupy floors 3 to 15, roughly a quarter of the structure is something else: amenity levels, service floors, plant and parking.
For an ultra-luxury oceanfront building that is normal and it is part of what the price buys, a large amenity programme relative to a small resident population. It is also a large physical plant maintained and eventually replaced by 73 owners.
Ask what the developer’s projected budget assumes for amenity operation and what the reserve study schedules for replacement of amenity fit-out, pool plant and mechanical equipment. In small buildings with large amenity bases, that schedule rather than the structure is where the money goes.
Topped out, not finished
The tower reached its full 17-storey height in March 2026 with completion anticipated in 2027.
That is the same stage as Okan Tower in Downtown Miami and it removes the largest pre-construction risk: the building will exist. What remains is fit-out and commissioning, and in an ultra-luxury building with bespoke finishes that phase is long and is where programmes move.
| Settled at top-off | Still open |
|---|---|
| the structure | interior fit-out programme |
| the height and massing | final adopted budget |
| the unit layout | turnover date and board control |
Three contract questions follow: the deposit schedule and which instalments sit in escrow against which the developer may draw; the outside completion date and the buyer’s remedies if it passes; and whether the association has turned over to owner control, because until it does the developer sets the first budget and commissions the first reserve study.
A first budget written by a party that wants closings to complete is not always the budget an independent board adopts. Insurance is the usual gap, and on Miami Beach oceanfront it has repriced every year since 2022. See the Florida property insurance guide.
The top of the market behaves differently
At $13.75 million to $37 million this is the highest band in the series, above Estates at Acqualina at the entry and comparable at the top.
The analysis at this level is not about yield, and saying so plainly saves a buyer time. It is about:
- Liquidity measured in seasons. With about 73 residences and a small number listed at once, transactions are infrequent and marketing periods are long.
- A small international buyer pool. The relevant variables are currency, cross-border capital movement and tax residency, not Miami rents.
- Ownership structure before closing. Individual name, US LLC, trust or foreign entity produce different outcomes on US estate tax exposure and on FIRPTA withholding at sale. Those decisions are taken before contracting and are expensive to reverse.
Where financing is used at all, obtain a written project eligibility determination, because it describes the future buyer pool. Where a project is non-warrantable the conventional loan is unavailable building-wide, leaving cash, private banking or a DSCR loan; overseas buyers who borrow work through foreign national mortgage programmes. Take US tax and title advice from a US CPA and attorney before contracting.
A 2027 completion places the first milestone inspection near 2052, repeating every ten years. Structural risk plays no part in this decision.
Verification checklist before you sign
- Get the rental clause verbatim from the recorded declaration and establish whether six months is a maximum, a minimum, or an annual cap.
- Verify the City of Miami Beach position for this address separately.
- Take the residence count and percentage of ownership from the declaration’s schedule of units, and establish how guest suites are treated.
- Get the deposit schedule and confirm which instalments are escrowed.
- Get the outside completion date and the buyer’s remedies if it passes.
- Ask whether the association has turned over to owner control and when it is expected to.
- Compare the developer’s projected budget with any adopted budget, with attention to insurance and amenity operation.
- Settle ownership structure with a US CPA and attorney before contracting.
Which buyer this building suits
It suits a cash buyer who wants an OMA building on Mid-Beach oceanfront, is buying to hold and occupy, and treats liquidity measured in seasons as acceptable. At this level the architecture, the sponsor pairing and the site are the product, and none of them can be replicated nearby.
It suits anyone whose decision depends on the letting rule least well until that rule is read, and that is the practical instruction rather than a judgement on the building. A sentence that can mean two opposite things is not a basis for a $13.75 million commitment. Get the declaration, read the clause, then decide.
Frequently Asked Questions
Listed residences have ranged from about $13,750,000 to $37,000,000, the highest band of any building in this series. Only a small number are listed at any time. Layouts run two to four bedrooms from about 2,100 to 6,700 square feet.
The tower topped out at 17 storeys in March 2026 and completion is anticipated in 2027. Topping out settles the structure; the fit-out and commissioning programme follows, and that is the phase where schedules move. Confirm the current programme and the outside completion date from the contract.
About 73, with some sources quoting 82 to 83 including guest suites. Residences sit on floors 3 to 15 of a 17-storey building, so amenity and service levels take a substantial share of the structure. Confirm the exact count and the guest-suite treatment from the declaration, because both affect per-owner cost allocation.
Reported as rentals allowed for up to six months. That wording is ambiguous and the two readings are opposites: a six-month maximum would be permissive, a six-month minimum would be restrictive and match the rest of Miami Beach. Do not proceed on either reading. Take the clause from the recorded declaration.
Mast Capital in a joint venture with a controlled affiliate of Starwood Capital Group, with architecture by OMA, the practice founded by Rem Koolhaas. The site is on the ocean at 5333 Collins Avenue in Mid-Beach.
A 2027 completion places the first milestone inspection near 2052 under the 25-year coastal trigger, repeating every ten years thereafter. Structural risk plays no part in this purchase. Delivery, deposit exposure and the rental clause do.
Get the rental clause and unit schedule at The Perigon
Tell us the residence size you are considering. We will come back with the letting clause verbatim from the declaration, the City of Miami Beach position for the address, the schedule of units and ownership percentages, the deposit and escrow terms, and the outside completion date.