A groundbreaking ceremony was celebrated for the 80-story Cipriani Residences in Brickell, developer Mast Capital announced. This momentous occasion marks the start of construction for the tallest tower ever in Brickell. Mast Capital revealed that it has successfully secured a staggering $600 million construction loan, setting a new record as the largest single-tower residential construction loan ever obtained in Florida.

The financing package includes a significant contribution of $350 million from Mexico-based Banco Inbursa, with an additional $250 million provided by Ascendant Capital Partners. With the loan in place, Mast Capital can now proceed with the construction of the Cipriani Residences tower, which is expected to reach a height of 940 feet above ground level or 950 feet above sea level. The tower will feature 397 luxury condominiums available for sale.

Notably, the Cipriani Residences tower will be the first in Brickell to surpass the 900-foot mark, surpassing the current tallest tower, Panorama Tower, which stands at 868 feet. This iconic tower will redefine the skyline of Brickell, further solidifying its status as a premier destination for luxury living.

Designed by the renowned architectural firm Arquitectonica, led by Bernardo Fort-Brescia, and featuring interior design by 1508 London, the Cipriani Residences tower promises to be a stunning addition to Miami's skyline. The development also includes plans for two additional towers on the same property, which will rise 50 and 60 stories and offer a total of 856 rental apartments.

The completion of Cipriani Residences is projected for the year 2028, providing ample time for the meticulous construction and finishing touches that will make this tower a true masterpiece in the heart of Brickell.