Ytech Reaches Sales Milestone For The Residences At 1428 Brickell Project While Securing $104 Million In Financing.
Ytech has surpassed significant financial and sales milestones for The Residences at 1428 Brickell, securing $104 million in financing and exceeding 40% in sales within a year. Designed by Arquitectonica, with interiors by ACPV Architects and landscaping by Arquitectonica GEO, this 70-story, 860-foot-tall development positioned at one of Brickell Avenue’s most coveted locations, reflects a strong demand for its exclusive 189 residences. This financial infusion, arranged by Linkvest Capital with $78 million in refinancing for the first mortgage and an additional $26 million in first mortgages from Banesco for 1500 and 1548 Brickell Avenue, propels the development into its subsequent phases, including demolition and construction. John Moriarty & Associates is the general contractor.
Ytech began accepting contracts for The Residences at 1428 Brickell in January 2023. Following swift approval from the Urban Development Review Board (UDRB) and an intense outpouring of interest from luxury buyers, the project has smoothly transitioned into the preparatory stages for construction. With demolition and building permits approved, the project team has started demolishing the existing site, clearing the path for this anticipated development.
“We continue to successfully hit our targets in sales, finance, and construction for this project, surpassing 40% in sales within a year, securing $104 million in financing, and commencing the demolition process,” said Yamal Yidios, CEO of Ytech. “As we approach groundbreaking, we are determined to deliver the highest-quality project in Brickell.”
The Residences at 1428 Brickell will offer 189 residences priced from $2 million to $7 million. The development features two-to four-bedroom plus den homes ranging from 1,800 to 4,000 square feet, all designed to maximize light and space with a true flow-through configuration. Highlights include a $60 million penthouse with 30-foot ceilings, unparalleled views of Biscayne Bay, and lower penthouses starting from $8 million.
Over 80,000 square feet of amenities are planned to complement these luxurious residences, situated 860 feet above the ground. These include a 10,000-square-foot gym, a rooftop pool, a hot spa, and a two-story wine and fine art lounge, all offering panoramic water and city views. With completion slated for 2027, Cervera Real Estate is leading the sales efforts, ensuring The Residences at 1428 Brickell become a landmark in Miami’s skyline and a testament to the city’s flourishing real estate market.
