Ytech Secures $78 Million Financing for The Residences at 1428 Brickell

Miami-based luxury developer Ytech has recently closed a $78 million financing deal for The Residences at 1428 Brickell. This soaring 70-story condominium tower has already achieved a remarkable 40% sales rate of 189 units. Cervera Real Estate manages the project’s sales.

Linkvest Capital provided the $78 million in refinancing, replacing the original $20 million acquisition loan for the site located at 1428 Brickell Ave. Additionally, Banesco contributed $26 million in first mortgages for properties at 1500 and 1548 Brickell Ave., including a historic mansion purchased by Ytech several years ago and the location of the sales gallery for The Residences.

1428 Brickell has obtained approvals from Miami’s Urban Development Review Board and secured various permits. Demolition work on the existing site has commenced before the official groundbreaking, with completion scheduled for 2027.

Condos at 1428 Brickell are priced between $2 million and $7 million, offering fully finished residences with two to four bedrooms spanning 1,800 to 4,000 square feet.

The tower’s pinnacle features a $60 million penthouse boasting 30-foot ceilings, seven bedrooms, nine bathrooms, and two east-facing balconies with stunning views of Biscayne Bay—lower penthouses, starting at $8 million, range from 4,000 to 10,000 square feet.

The Residences will also feature over 80,000 square feet of amenities spread across three upper floors, including a 10,000-square-foot fitness center, a rooftop pool, and atrium, a two-story wine and fine art lounge, office suites, a private dining room equipped with a Vaselli kitchen, a spa, a children’s recreation and learning center, and fully furnished private guest suites.

Yamal Yidios, CEO of Ytech, expressed confidence in the project’s progress, highlighting the achievement of exceeding 40% in sales within a year, securing $104 million in financing, and initiating the demolition process. Yidios affirmed the commitment to delivering a high-quality project in Brickell as they approach groundbreaking.