Ytech Secures $104 Million Financing for The Residences at 1428 Brickell
Miami's real estate landscape is about to receive another jewel in its crown as Ytech, a prominent developer, announces securing a staggering $104 million in financing for The Residences at 1428 Brickell. Nestled in the heart of Miami’s Brickell Financial District, this 70-story residential masterpiece promises to redefine luxury living in one of the city's most coveted locations.
Designed by the renowned firm Arquitectonica, with interiors crafted by ACPV Architects and landscaping envisioned by Arquitectonica GEO, The Residences at 1428 Brickell stand tall at 861 feet. Boasting an impressive 40% in sales within a year, this project has already captured the attention of luxury buyers, signaling a promising future ahead.
The recent financial infusion, orchestrated by Linkvest Capital and Banesco, with $78 million in refinancing and an additional $26 million in first mortgages, propels this development into its subsequent phases with unwavering momentum. Spearheaded by John Moriarty & Associates as the general contractor, the project is set to undergo demolition and construction, marking a significant milestone in its journey towards completion.
“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 meticulously crafted residences, ranging from two to four bedrooms plus a den, priced from $2 million to $7 million. Each unit, spanning between 1,800 to 4,000 square feet, is designed to maximize light and space, embracing a true flow-through configuration to enhance the living experience.
One of the crown jewels of this development is the $60 million penthouse, boasting 30-foot ceilings and offering unparalleled views of Biscayne Bay. Lower penthouses, starting from $8 million, further accentuate the allure of this luxurious offering.
In addition to the lavish residences, The Residences at 1428 Brickell will feature over 80,000 square feet of amenities, meticulously curated to elevate the lifestyle of its residents. From a sprawling 10,000-square-foot gym to a rooftop pool and a hot spa, every amenity promises to offer an oasis of relaxation amidst the vibrant cityscape. A two-story wine and fine art lounge, showcasing panoramic water and city views, further adds to the allure of this development.
The project is slated for completion in 2027.
