Ytech has secured $104 million in financing for the Residences at 1428 Brickell, a 189-unit 70-story luxury residential development. The loan was facilitated by Linkvest Capital, who provided $78 million in refinancing of a first mortgage, replacing the original $20 million acquisition loan for the site, and Banesco, who contributed an additional $26 million in first mortgages.
Ytech claims they’ve sold 40% of the units before the existing buildings have been demolished.
The Residences at 1428 Brickell, priced from $2 million to $7 million, will be fully finished with two- to four-bedroom plus den homes ranging from 1,800 to 4,000 square feet. Amenities include a 10,000 square-foot gym, a rooftop pool and atrium, a hot spa, office suites, a private dining room with a kitchen, a juice and wellness bar, an immersive spa, an aquatic therapy area, fully furnished private guest suites, and more. The Residences at 1428 Brickell is slated for completion in 2027.
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