Ytech is the latest luxury condo builder in South Florida to land more than a half-billion dollars in construction financing this year.

The Residences at 1428 Brickell at 1428 Brickell Ave. JPMorgan Chase and Sculptor Real Estate have combined to provide a $565M construction loan to Ytech for the 70-story Residences at 1428 Brickell tower, the developer announced Monday.

Roughly 60% of the project’s 195 condos have already been sold, according to a press release. The project at 1428 Brickell Ave. has been under construction since last year. Ytech landed a $78M loan from Linkvest Capital in March 2024.

The condos span 1,800 to 4,000 SF and range in price from $4.4M to $10M. The Residences in The Lower Penthouse Collection are priced between $10M and $20M and encompass between 4K and 7K SF.

The project also has two $60M upper penthouses with seven bedrooms and nine bathrooms apiece. Greenberg Traurig attorneys Kimberly LeCompte and Eric Fisher and Kapp Morrison’s Stuart Kapp represented Ytech in the transaction. JPMorgan was represented by Noam Haberman of Gibson Dunn and Sculptor Real Estate was represented by Ilya Leyvi of Adler & Stachenfeld.

JLL Capital Markets’ Melissa Rose and Brian Gaswirth represented the borrower in the financing. The deal is the latest of a slew of huge construction loans this year. Last quarter was the most active period for financing activity since 2022.