YTECH's Kohn Pedersen Fox-Designed 'Seven Broadway' Approved in Brickell

Ytech’s 'Seven Broadway,' a luxurious residential tower set to rise in Miami's vibrant Brickell neighborhood, has just received unanimous approval from the City’s Urban Development Review Board (UDRB). Greenberg Traurig’s Carlos Lago represented the developer throughout the application process. Designed by the renowned architecture firm Kohn Pedersen Fox (KPF), Seven Broadway is set to rise 54 stories, 682’, and will feature 113 residential units and 193 parking spaces. Amenities are set to include a rooftop pool.

"We’re proud to have represented YTECH in securing unanimous approval from the City of Miami’s Urban Development Review Board for Seven Broadway,” said Carlos Lago, attorney in Greenberg Traurig’s Miami Land Use & Land Development Practice. “This project reflects the highest caliber of urban design and planning, thanks to the vision of Kohn Pedersen Fox and YTECH’s continued commitment to excellence. From the strategic assemblage to predevelopment milestones and now design approval, this marks an exciting step forward in bringing a landmark residential tower to the heart of Brickell."

Seven Broadway will be located at 75 and 41 Southwest 15th Road, just minutes away from Brickell Avenue. Ytech acquired the .3-acre site, which is currently undergoing demolition, for approximately $8.2 million and also locked down $19.5 million in pre-development financing from Israel Discount Bank .

Seven Broadway marks a significant step in Brickell's ongoing transformation into one of the United State’s densest urban residential hubs. Ytech's CEO, Yamal Yidios, expressed the firm's commitment to architectural integrity and quality, highlighting that Seven Broadway is the culmination of years of meticulous planning and design refinement. Seven Broadway is nearby The Residences at 1428 Brickell, a 70-story solar-powered tower being developed by Ytech which is currently under construction.

Images via YTECH

For more information about Seven Broadway or to inquire about purchasing a unit please fill out the form below:

Ytech Reveals KPF-Designed 'Seven Broadway' Residential Tower In Brickell

Ytech has revealed plans for 'Seven Broadway,' a luxurious residential tower set to rise in Miami's vibrant Brickell neighborhood. Designed by the renowned architecture firm Kohn Pedersen Fox (KPF), this ambitious project is slated for a prime location at 75 and 41 Southwest 15th Road, just minutes away from the bustling Brickell Avenue. Ytech acquired the .3-acre site, which is currently undergoing demolition, for approximately $8.2 million and also locked down $19.5 million in pre-development financing from Israel Discount Bank . Although specifics regarding the number of residential units and amenities have yet to be disclosed, the design emphasizes unobstructed views of Biscayne Bay and Downtown Miami while enhancing walkability with landscaped tropical plantings and widened sidewalks. Plans have been submitted to Miami’s Urban Development Review Board but no construction timeline has been announced.

Seven Broadway marks a significant step in Brickell's ongoing transformation into an urban residential hub. Ytech's CEO, Yamal Yidios, expressed the firm's commitment to architectural integrity and quality, highlighting that Seven Broadway is the culmination of years of meticulous planning and design refinement. Seven Broadway is nearby The Residences at 1428 Brickell, a 70-story solar-powered tower being developed by Ytech which is currently under construction. Surrounded by a dynamic mix of office, residential, and hospitality spaces, and located conveniently near Metrorail and Metromover stations, Seven Broadway is poised to redefine luxury living in Miami and attract potential residents eager to experience the best of urban lifestyle.

Renderings via Ytech

Ytech Receives Master Permit Approval For 'The Residences at 1428 Brickell'

Development firm Ytech, led by Yamal Yidios, have received master permit approval for The Residences at 1428 Brickell. This approval marks a significant milestone for Ytech in the greater development of The Residences at 1428 Brickell which has seen strong sales since launching in January 2023. By pursuing a full master permit instead of traditional phased permitting, the firm has not only reiterated its position as an industry innovator, but also underscored its commitment to delivering this highly anticipated project on schedule without compromise. With groundbreaking having taken place last year and this approval now in place, the development is on track to begin going vertical and make its official impact on the Brickell skyline.

The Residences at 1428 Brickell will be a 70-story, 195-residence tower that will rise in Brickell as the first ever high-rise residential tower to be partially powered using solar energy, with 500 photovoltaic-integrated windows along the west-facing façade creating a “Solar Backbone” comprising nearly 20,000 square feet of energy-producing glass.

Designed by international architecture firm Arquitectonica, with interiors by world-renowned architecture and interior design firm ACPV ARCHITECTS, The Residences at 1428 Brickell’s limited collection of residences, priced from $3 million to $7 million, will be fully finished with two- to four-bedroom plus den units ranging from 1,800 to 4,000 square feet. Residents will have access to over 80,000 square feet of amenity space across the building’s top three levels and 860 feet in the sky, including a rooftop pool and atrium, two-story wine and fine art lounge, expansive 10,000 square foot gym, and family-centric Imaginarium, among others.

The property’s Penthouse Collection includes lower penthouses starting from $8 million. Penthouses range in size from 4,000 to 12,000 square feet. These exclusive, private residences are focused on empowering owners with a sense of privacy, safety and individuality. They showcase stunning water views and have been thoughtfully created with a true flow-through configuration to maximize light. A significant portion of residences within the property are two-stories, creating the feeling of a single-family home in the sky.

Renderings via The Boundary for Ytech

For more information about The Residences at 1428 Brickell or to inquire about purchasing a unit please fill out the form below:

Ytech Begins Demolition of Site For The Residences at 1428 Brickell

Miami-based real estate development firm Ytech has commenced demolition of the existing structure at 1428 Brickell Avenue, the future location of luxury high-rise condominium The Residences at 1428 Brickell. Ytech has owned the now-vacant property since January 2017, which previously housed 100,000 square feet of office space. John Moriarty & Associates (JMA) is the construction team conducting the demolition. This demolition marks a pivotal step in delivering The Residences at 1428 Brickell and continues to build momentum for Ytech’s real estate development portfolio, following the approval for 75 Broadway by the Planning & Zoning department in Miami.

“When we acquired the property at 1428 Brickell Avenue, we did so with the firm intent of delivering a level of design, craftsmanship, and meaningful innovation never before seen in Miami,” said Yamal Yidios, CEO of Ytech. “As demolition commences, we will ensure that even the earliest stages of The Residences at 1428 Brickell’s construction echo our commitment to delivering a truly superior product for our buyers.”

The Residences at 1428 Brickell is a limited collection of residences, priced from $2 million to $7 million, that will be fully finished with two- to four-bedroom plus den homes ranging from 1,800 to 4,000 square feet. These residences showcase stunning water views and have been thoughtfully created with a true flow-through configuration to maximize light. A significant portion of residences within the property are two-story, creating the feeling of a single-family home in the sky. The tower’s crown jewel is its $60 million penthouse with extraordinary 30-foot ceilings, 7 bedrooms, 9 bathrooms, and two east-facing balconies with unparalleled views of Biscayne Bay. The tower also includes lower penthouses which start from $8 million and range in size from 4,000 to 10,000 square feet.

Over 80,000 square feet of amenities will also adorn The Residences at 1428 Brickell. Located 860 feet in the sky, Ytech dedicated the three levels within the top of the tower to house curated private and shared spaces showcasing stunning, panoramic water and city views. Amenities include an expansive 10,000 square foot gym with weight room, HIIT room, and an indoor/outdoor yoga room, a rooftop pool and atrium, a hot spa and daybed lounging area, a two-story wine and fine art lounge, state-of-the-art office suites, a private dining room with a one-of-a-kind Vaselli kitchen, a juice and wellness bar, an immersive spa, an aquatic therapy area, a children’s recreation and learning center, fully furnished private guest suites, and more. Additional highly personalized services include reception, valet and porter, bellman and doorman services, a pet facility with grooming area, and in-unit package delivery.

“Ytech has a demanding and meticulous attention to detail on every phase of development – from initial concept all the way through to construction of the tower. Our standards demand only the best, so for demolition we’ve tapped experts within high-density urban cores such as New York City to oversee and advise on this process and look forward to delivering premier luxury residences of a never-before-seen caliber to Brickell,” said John Breistol, COO of Ytech.

“With the achievement of this milestone and the extraordinary success we have seen in sales, there is enormous confidence in Ytech and this project. Ytech is cementing their well-deserved reputation as the premier ultra-luxury developer in Brickell, and the quality and thoughtful design of The Residences at 1428 Brickell resonates with domestic and international buyers,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate.

The Residences at 1428 Brickell is slated for completion in 2027, with Cervera Real Estate serving as the sales team representing the property.

Images via The Boundary for Ytech

Major Food Group to Debut Chateau ZZ's Mexican Concept in Historic Landmark Brickell Estate

Before the end of the year, Major Food Group (MFG) will debut the impossibly glamorous Chateau ZZ’s in a historic Miami estate steeped in significance and allure. Here, MFG will introduce the acclaimed company’s first-ever foray into Mexican cuisine. Hidden in plain sight in the heart of Brickell, this two-floor architectural marvel, originally constructed as a private residence in 1931 by legendary architect Martin L. Hampton, is the only known French chateau in the city and was designated a historically protected building in 1983. Now MFG, in collaboration with the visionary Ken Fulk, Inc., have meticulously restored the estate to its former splendor.

The first level of the reimagined manor features MFG’s first-ever Mexican concept—a glitzy restaurant with impeccable cuisine, an extensive collection of the rarest tequilas, a stunning solarium, a vibrant bar and lounge, and idyllic outdoor gardens. The second level of Chateau ZZ’s, meanwhile, is strictly private and available exclusively to members of ZZ’s Club. At Chateau ZZ’s, tuxedo-clad service captains will orchestrate a journey through iconic Mexicans dishes; features include a table-side guacamole presentation, Sweet Corn Elote, Lobster Aguachile Verde, Ribeye Pastor, and so much more, all presented with MFG’s famed sense of flair.

This endeavor not only signifies the group's first foray into a vast and rich culinary realm but also marks the unveiling of the estate to the public. Paying homage to the address' rich history, Chateau ZZ's stands as a testament to Major Food Group's commitment to revitalizing and preserving historic landmarks.

Originally built in 1931, the property, referred to as “Château Petit Douy,” was designed to resemble the Priory in Saint Julian, France and reflects the period revival style of architecture common during the first half of the twentieth century. Located in what was then known as the Millionaires’ Row neighborhood, the home remains as one of the few historic mansions left on Brickell Avenue. The property gained its historic designation status in 1983. The property was acquired by Ytech, led by Yamal Yidios, in 2023 before undergoing a recently completed renovation and restoration.

Founded by Jeff Zalaznick, Mario Carbone, and Rich Torrisi, MFG has made a substantial commitment to South Florida over the last three years, moving their headquarters to the area and building an array of businesses that have enriched several neighborhoods and created more than 700 jobs to date. In the span of a decade, MFG has grown into one of the most acclaimed hospitality groups in the world. They have pioneered a celebratory style of dining at such iconic restaurants as CARBONE and The Grill, forged groundbreaking partnerships with leading designers and luxury brands, and opened The Ludlow Hotel in Manhattan and The Newbury Boston.

Since 2020, the company has expanded into several markets, from South Florida to Paris, while exploring new ventures like the private membership venue ZZ’s Club in Miami and The Crown Club at Brooklyn’s Barclays Center. In addition to building renowned restaurants, MFG is proud of its support of various social causes and its lasting partnership with the Robin Hood Foundation, one of New York City’s most important forces in the fight against poverty. To date, MFG has been awarded a total of 18 stars from The New York Times and three from the Michelin Guide. MFG’s businesses are located in New York City, Miami, Boston, Las Vegas, Hong Kong, Paris, and Tel Aviv. The concepts include CARBONE, Sadelle’s, The Grill, ZZ’s Club, Dirty French, Parm, Contessa, and The Lobster Club. In September 2023 Boucher Brothers and Major Food Group were named by voters as the new stewards of one of the most stunning and historic beachfront properties on the globe, 1 Ocean Drive. Their vision for the address, designed by Kobi Karp, will come to life in 2026 at the site that has been operated as Nikki Beach since 1985.

FIRST ON PROFILE: The Residences at 1428 Brickell Reveals $60 Million Penthouse Designed By ACPV Architects

1428 Brickell has revealed their ground-breaking $60 million, two-story, fully-finished penthouse crowning The Residences at 1428 Brickell. The penthouse residence encompasses over 12,000 square feet set under a soaring 30-foot ceiling, unveiling an unrivaled tapestry of views: the jewel box of the Miami skyline with visibility of the Fort Lauderdale cityscape to the north, the vast beauty of the Everglades to the west and sweeping perspectives of the Atlantic Ocean to the east and on the southern horizon. The Residences at 1428 Brickell is being developed by 1428 Brickell, LLC, a subsidiary of Miami-based real estate development firm Ytech. The Residences at 1428 Brickell is slated for completion in 2027.

“Our objective was clear: to create one of the most exceptional penthouse residences in the world. The Penthouse at 1428 Brickell sets new standards in luxury living, not just in Miami but globally,” shared Yamal Yidios, CEO of Ytech.

Curated by the esteemed Milan-based ACPV ARCHITECTS led by Antonio Citterio and Patricia Viel, this epitome of luxury is a testament to unrivaled design, influenced by iconic figures of the 20th century, including Oscar Niemeyer, Luigi Caccia Dominioni, Angelo Mangiarotti, Charlotte Perriand, and Philip Johnson. Antonio Citterio reflected, “Our commitment was to evoke the spirit of architectural and design masters of the 20th century. Through a unique combination of light, space, and texture, we've created a penthouse that reinterprets luxury.” Patricia Viel added, “We took inspiration from design greats, channeling their genius into crafting a space that harmoniously combines elegance and functionality. Each detail prioritizes residents’ experience from the moment they arrive at the building, until they reach the privacy of their residence."

By channeling the genius of icons, such as Niemeyer’s sublime curves, Philip Johnson’s emphasis on creating truly livable, engaging spaces, and Mangiarotti’s reverence for natural materials, the penthouse became an opulent tapestry of silk georgette marble, eucalyptus wood claddings, mineral lime-based finishes, fluted glass walls, spaghetti stone touches and ash flooring. These lavish materials were handpicked by Ytech's diligent team during their global expeditions, ensuring each selection met the project’s unparalleled standards.

The development and design teams collaborated in consideration of crucial elements including configuring front- and back-of-house circulation schemes, planning the flow of rooms within the residence to balance day and night areas, integrating a specialized structural and envelope design for the residence, and bringing in specialists for comprehensive 3-D concept, schematic, and design analysis of key spaces within the estate in the sky. Exhaustive research underpinned the creation of a stone-clad sculptural stairway, a centerpiece of the residence, where more than 32 different designs were studied showcasing the lengths taken to achieve perfection. An extensive solar study guarantees every space captures optimal light, imbuing the residence with a mesmerizing glow that shifts with the sun, allowing residents to immerse in the sublime, panoramic city vistas, and ensuring a seamless blend of indoor and outdoor luxuries.

This penthouse's ambitious two-story floor plan includes multiple facets, from a custom-designed library bar featuring silk georgette to a Salvatori stone-adorned master bathroom. Contributing to the residence’s sophistication, refined staging showcases other unique elements that dazzle the eye, such as pivoting walls, a sculptural stone bar, and a walk-in, temperature-controlled wine cellar. The artisans of Vaselli, chosen for their exclusivity, immense history, and excellence in stonework, will craft a stunning centerpiece-like front-of-house kitchen. Italy’s Arclinea will similarly design a one-of-a-kind separate chef’s kitchen within the residence. The firm, known for its innovative and precise construction of complex kitchens, was handpicked for its integral consideration of one’s individual livability and function within culinary spaces.

The Penthouse at The Residences at 1428 Brickell will feature two stories, extraordinary 30-foot ceilings equal to almost four levels of a traditional building, 7 bedrooms, 9 bathrooms, two east-facing balconies with unparalleled views of the Brickell skyline, two elevators leading to a private foyer, and an additional elevator within the residence that leads to the second floor.

In addition to this masterpiece, The Residences at 1428 Brickell offerings include a limited collection of residences, priced from $2 million to $7 million, that will be fully finished with two- to four-bedroom plus den homes ranging from 1,800 to 4,000 square feet. The property’s Penthouse Collection also includes lower penthouses starting from $8 million and ranging in size from 4,000 to 10,000 square feet. These residences showcase stunning water views and have been thoughtfully created with a true flow-through configuration to maximize light. A significant portion of residences within the property are two-story, creating the feeling of a single-family home in the sky.

Over 80,000 square feet of amenity space will also adorn The Residences at 1428 Brickell. Located 860 feet in the sky, Ytech dedicated the three levels within the top of the tower to house curated private and shared spaces showcasing stunning, panoramic city views. Amenities include an expansive 10,000 square foot gym with weight room, HIIT room, and an indoor/outdoor yoga room, a rooftop pool and atrium, a hot spa and daybed lounging area, a two-story wine and fine art lounge, state-of-the-art office suites, a private dining room with a one-of-a-kind Vaselli kitchen, a juice and wellness bar, an immersive spa, an aquatic therapy area, a children’s recreation and learning center, fully furnished private guest suites, and more. Additional highly personalized services include reception, valet and porter, bellman and doorman services, a pet facility with grooming area, and in-unit package delivery.

Renderings via The Boundary

Ytech Reveals Antonio Citterio Patricia Viel-Designed 70-Story Partially Solar Powered Condo Tower 'The Residences at 1428 Brickell'

1428 Brickell, LLC, a subsidiary of Miami-based real estate development firm Ytech, has revealed The Residences at 1428 Brickell, a 70-story iconic centerpiece of the quintessential Miami skyline, located at one of the most prestigious addresses on Miami's Brickell Avenue. The building will be the first ever high-rise residential tower using solar energy and is designed by architecture and interior design firm ACPV ARCHITECTS and international architecture firm Arquitectonica. The distinctive architecture and design of this private, residential property includes a limited collection of 189 homes priced from $2 million to $7 million, including a Penthouse Collection priced from $8 million to over $40 million. Cervera Real Estate serves as the sales team representing the property. Among the most prolific luxury condominium builders in the country, John Moriarty Associates (JMA) is the general contractor for The Residences at 1428 Brickell.

The Residences at 1428 Brickell will be the world’s first luxury, high-rise residential tower to integrate photovoltaic glazing within the building’s façade. This solar energy feature is deftly blended into the building’s architectural aesthetic, expressing the importance of sustainability and carbon reduction along each of its 70 floors. Since the solar cells are integrated into the glass, the effective lifespan of the panels can match the window itself. The property will feature 500 photovoltaic-integrated windows along the west-facing façade, creating a “Solar Backbone” comprising nearly 20,000 square feet of energy-producing glass. With this orientation and permanently installed generating capacity, the system is capable of producing up to 170,000 kilowatts, or 170 megawatts, of clean energy per year. This is intended to result in the reduction of approximately 4,700 tons of CO2 and the use of 3,000 barrels less of oil. Ytech has selected award-winning firm Cosentini Associates as the property’s expert solar energy consultant to implement this technology into The Residences at 1428 Brickell.

“Over a decade of planning and market research has come to fruition with The Residences at 1428 Brickell. Ytech’s vision is to create residential sanctuaries in an urban environment where design is driven first and foremost by resident experience and needs,” said Yamal Yidios, CEO of Ytech. “Complemented by impeccable architecture and advanced engineering, a remarkable combination of form and function, The Residences at 1428 Brickell will become iconic in delivering an unparalleled, service-oriented living experience.”

Ytech has selected a world-class team of artisans, designers, architects and engineers who understand the nuances of architecture, space, objects and human interaction to conceptualize and deliver a truly exceptional residential product. The concept for The Residences at 1428 Brickell was developed based on market research gathered from more than 250 luxury residential and hotel properties globally and interviews with three dozen renowned architects and designers. As a result, the property was created with the owner’s experience and privacy at the forefront of every decision, making The Residences at 1428 Brickell not only beautiful to behold but ideal to live in. The end result – meticulously curated residences with thoughtfully crafted amenity spaces and private areas throughout the building that will deliver a perfect balance between beauty and functionality. These exclusive and private residences are focused on empowering owners with a sense of privacy, safety and individuality.

Led by CEO Yamal Yidios, Ytech is ​​inspired by great thinkers, creators and innovators, and this inspiration has been woven into each intentionally conceived detail of The Residences at 1428 Brickell. Through the firm’s in-depth market research, design vision and meticulous execution, complemented by Yidios’ background as an engineer and internationally influenced perspective, The Residences at 1428 Brickell have been crafted with intelligence and artistry to create an instant, lasting sense of belonging for all who call it home.

Alongside world-renowned architecture and interior design firm ACPV ARCHITECTS and international architecture firm Arquitectonica, Ytech has meticulously designed a perfect balance between form and function without compromise. Over the years, ACPV ARCHITECTS has designed some of the world’s most iconic projects including the Bulgari Hotel Paris, Arte Surfside in Miami Beach and La Bella Vita high-rise in Taiwan among others. ACPV ARCHITECT’S vision for the interior spaces emerges from the firm’s penchant for designing the art of living, with a unique micro and macro perspective, making The Residences at 1428 Brickell a living space where emotion and intellect combine to produce the highest quality of life.

“For the tower’s interiors, we selected furniture, materials, textures and colors that create an ambiance of informal luxury,” said Patricia Viel, CEO of ACPV ARCHITECTS. “Throughout the property’s amenity spaces we integrated pieces of furniture from a selection of world-renowned Italian and international designers, focusing primarily on earth tones to bring nature inside the building while simultaneously celebrating the joyful feeling of spending time outdoors in the company of your loved ones.”

“The architecture and interior design of The Residences at 1428 Brickell fuse seamlessly to make residents feel welcome and at ease from the moment they enter the building. Imagining how owners would use each space within the property was the guiding principle of our design for the interiors,” said Antonio Citterio, chairman of ACPV ARCHITECTS. “For example, we designed large amenity spaces to act as an extension of residents’ private living areas, such as the dining area, pool, bar and wine cellar, and integrated full-height windows in the lobby to offer uninterrupted views of the striking Brickell skyline, bridging the gap between indoors and outdoors.”

The Residences at 1428 Brickell's limited collection of residences will be fully finished with two- to four-bedroom plus den units ranging from 1,800 to 4,000 square feet. The Penthouse Collection residences range from 4,000 to 10,000 square feet. The residences showcase stunning water views and have been thoughtfully created with a true flow-through configuration to maximize light. A significant portion of residences within the property are two-stories, creating the feeling of a single-family home in the sky.

The Residences include high-quality, contemporary finishes and one-of-a-kind Antonio Citterio-designed signature pieces. Further highlights include deep sunrise and sunset terraces with a summer kitchen; two private elevators and a foyer per residence with double door entry including a compartment for in-room dining deliveries and private storage on each level. Encompassed by Rimadesio glass enclosures, standard residences will feature Italian Arclinea kitchens with 11-foot ceilings, while penthouse residences will include limited production Vaselli kitchens and 12- to 30-foot ceilings.

Over 80,000 square feet of amenity space will adorn The Residences at 1428 Brickell. Located 860 feet in the sky, Ytech dedicated five of the eight amenity levels within the top of the tower which will be home to curated private and shared spaces showcasing stunning, panoramic city views.

Level 70, a rooftop pool and atrium, features a pool with direct sunlight exposure; a hot spa and daybed lounging area; and a sky atrium offering a serene, lush greenhouse experience surrounded by foliage.

Level 67 includes a world-class, two-story wine and fine art lounge. The level also features state-of-the-art office suites with private offices and lounge; private dining room with a jewel Vaselli kitchen, ideal for entertaining, private cooking classes or catering; an owner’s lounge with expansive seating for entertaining and a full bar featuring craft cocktails and culinary delectables. Additional services include an on-site beverage director and sommelier as well as private a la carte catering and event services.

Level 66 features an expansive 10,000 square foot gym with weight room, HIIT room and an indoor/outdoor yoga room; a juice and wellness bar offering healthy pre and post-workout food and beverage options; and an immersive spa featuring a meditation room, infrared sauna, steam room, cold and hot plunge pools, treatment rooms, beauty suite and barbershop. Services on this level include a wellness concierge available to assist in scheduling personal training, spa and beauty treatments, nutritional coaching and IV treatments.

Level seven offers a family-focused environment featuring a pool with shallow wading area and poolside cabanas; aquatic therapy area with a stationary exercise lap pool; children’s recreation and learning center featuring indoor and outdoor areas with splash pools, interactive playgrounds and creativity rooms; cinema screening room and a teen’s room. Fully furnished, private guest suites will be available on level eight.

The building’s entrance and arrival lounge features an impressive porte-cochere and access control facility creating a welcoming, immersive arrival experience that includes a library with wine and food options for residents and their guests. Additional services include reception, valet and porter; bellman and doorman services, and a pet facility with grooming area, and in-unit package delivery, among other amenities.

Ytech Acquires 1500 Brickell, One Of The Last Remaining Historic Estates On Brickell Avenue

Miami-based real estate development and investment firm Ytech have acquired a historic mansion located at 1500 Brickell Avenue. Ytech is completing a multi-million dollar restoration and renovation of the property which is slated for completion by Q1 2023. The property joins Ytech’s ownership portfolio of prime addresses in Brickell including 1428 Brickell Avenue, 1548 Brickell Avenue, and 75 Broadway, among others. Ytech was represented by Stuart Kapp of KappMorrison, LLP in the acquisition.

“The acquisition of 1500 Brickell Avenue underscores our commitment to the area which is the epicenter of growth in Miami,” said Yamal Yidios, CEO of Ytech. “The restoration will bring to life the significance of this historic property, which when complete will serve as a complement to our luxury residential development efforts in Brickell.”

Originally built in 1931, the property, referred to as “Château Petit Douy,” was designed to resemble the Priory in Saint Julian, France and reflects the period revival style of architecture common during the first half of the twentieth century. Located in what was then known as the Millionaires’ Row neighborhood, the home remains as one of the few historic mansions left on Brickell Avenue. The property gained its historic designation status in 1983.

Since 2006, Ytech has developed and redeveloped more than 7,000 apartments in 25 submarkets across the Southeast United States, involving over $2 billion in capital. In addition, the firm currently has a development pipeline of more than $3 billion in residential projects in the Brickell area.

Greenstone Property Group Acquires Miami Multifamily Portfolio From Ytech For $119 Million

The Miami-based Ytech has sold a multfamily portfolio in Miami totaling 677 apartment units for $119 million to the New York-based Greenstone Property Group. The dual transaction included the $41 million sale of Ocean House NoBe, a 186-unit multifamily property in the North Beach area of Miami Beach that Ytech purchased for $27.1 million in 2015, and the $78 million sale of Lake House, a 491-unit multifamily property in Miami Gardens that Ytech bought for $14.3 million in 2012.

“Developments like Ocean House and Lake House are critical for unlocking the widespread social opportunities embedded in any emerging neighborhood enabled through smart municipal policies and urbanization, binding the need for economic prosperity, environmental stewardship, and social mobility,” said Yamal Yidios, CEO of Ytech. “This sale marks the start of a new phase of growth for Ytech as we evolve from over a decade of industry expertise in the multifamily space to being a well-capitalized developer of luxury condominiums in the Brickell neighborhood.”

Ytech carried out its vision for Ocean House in the form of public space improvements, better infrastructure, and the modern renovation of apartment units. It purchased properties on Tatum Waterway Drive, which included 1,000 linear feet of waterfront land, from both public and private companies, as well as multiple owners of co-owned condominiums. The series of 13 complex transactions involved additional complicating factors, such as termination of condominiums and swap agreements, among others.

Ytech redeveloped Ocean House NoBe over four years, assembling and renovating 23 contiguous low-rise apartment and condo properties along 7745-7790 Tatum Waterway in Miami Beach. The site is occupied by approximately 1,000 residents. Ytech’s efforts transformed the neighborhood while preserving original structures and maintaining the scale and character of the district. The property, which covers three city blocks, is within walking distance to the beach, famous Collins Avenue, and an array of fine retail and dining destinations.