MIAMI | 1428 Brickell Avenue | 853 FT | 75 FLOORS

[chris08876]

Could be a sizable development in store for this parcel or current property. It'll be good to see the current structure go. Ytech wouldn't be so persistant in acquiring the current structure if its not worth it in the long term.




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Ytech Acquires 1428 Brickell Avenue: Yamal Yidios’ company brings an end to years of litigation; Site is zoned for a mixed-use project of up to 80 stories and 825,000 square feet

YTECH - 1428 Brickell, LLC (Ytech), an investment affiliate of Ytech International, has acquired the BankUnited Office Building located at 1428 Brickell Avenue in Miami, one of the most desirable development properties remaining in Miami’s financial district.

The purchase, which includes $26.5 million for the real estate, plus “tens of millions of dollars more” to settle claims and non-real estate matters, is the final step in a series of transactions that brings an end to years of high-profile litigation and threats of foreclosure, said Yamal Yidios, the 34-year-old founder and sole owner of Ytech, which has completed more than $1 billion in real estate investment and development in the Southeastern United States.

“This transaction, which gives Ytech a property of nearly 50,000 square feet on Brickell Avenue and development rights for up to 825,000 square feet, was a very challenging and rewarding business undertaking,” Yidios said. The 1428 Brickell property, which presently has a 100,762-square-foot office building, has been entangled in litigation making the property difficult to develop or transact. “The property was on the brink of a summary judgment foreclosure hearing when Ytech was asked to become involved. Providing the immediate capital to stave off the impending foreclosure preserved the value of the asset for the Taplin family,” Yidios said.

Buying the mortgage and postponing the foreclosure action was just the first step in the eventual purchase. In a series of separate transactions and agreements involving both the real estate and non-real estate matters, Yidios and Ytech’s outside general counsel, Stuart Kapp of Kapp Morrison LLP, negotiated to bring an end to years of litigation that included claims by neighboring property owner Walter DeFortuna, lender ESJ Capital Partners and New York investor Shahab Karmely.

“1428 Brickell is a big deal,” Kapp said. “Yamal did independently what the two parties could not do together, and it is very satisfying that we could bring an end to years of friction between all the parties. It took tremendous insight, patience, resources and trust by the various parties to allow Yamal to craft a solution. Yamal's underlying determination and perseverance were strong enough to offset all setbacks, delays and challenges,” Kapp said. “He was relentlessly determined to get all the parties across the finish line.”

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http://www.businesswire.com/news/hom...rickell-Avenue

[chris08876]

Another Supertall Has Just Been Approved In Brickell

The Federal Aviation Administration has granted approval for another 1,049-foot supertall tower to be built in Brickell.

The tower is proposed at 1428 Brickell Avenue.

The FAA said the new tower can be built at 1,040 feet above ground, or 1,049 feet above sea level. That is the maximum permitted in the area by aviation authorities.

Approval was granted on January 14, after less than six months of review. The application was originally filed on January 30.

The project is being planned by Ytech.

According to Ytech’s website, a luxury residential project with hotel-like services is planned.

A Ytech spokesperson previously said that further details of the project will be released once they begin sales and marketing.

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NXT

[bobdreamz]

It's incredible that it took 4 years for Ytech to finally acquire this property. I really hope they build up to the maximum height allowed.

[chris08876]

Looks like a new 853 ft tower proposed in addition to this existing parcel. Portfolio is growing for Ytech.


Note the location (for 75 Broadway):

[Altoic]

Ytech Announces 70-Story First-Ever Solar-Powered High-Rise ‘The Residences At 1428 Brickell’
https://floridayimby.com/2022/10/yte...-brickell.html

Miami-based real estate development firm Ytech, led by Yamal Yidios, has announced The Residences at 1428 Brickell, a 70-story luxury condominium development planned for 1428 Brickell Avenue in Miami’s Brickell Financial District. Designed by Arquitectonica with interiors by Italian architecture firm ACPV ARCHITECTS, the building will be the first-ever high-rise residential tower using solar energy, comprised of a limited collection of 189 fully-finished residences with two- to four-bedroom plus den units ranging from 1,800 to 4,000 square feet, and a penthouse collection of units ranging from 4,000 to 10,000 square feet. John Moriarty Associates, one of the country’s most prolific luxury condominium builders, has been selected as the general contractor. The award-winning engineering firm Cosentini Associates has been chosen as the property’s expert solar energy consultant. Cervera Real Estate serves as the sales team representing the property. 

The development will be the world’s first luxury high-rise residential tower to integrate photovoltaic glazing within the building’s façade. Solar cells are integrated into the glass, effectively elongating the panels’ lifespan to match the windows. This solar energy feature is cleverly blended into the building’s architectural aesthetic, expressing the importance of sustainability and carbon reduction across its 70 floors. 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, producing up to 170,000 kilowatts, or 170 megawatts, of clean energy per year. The intended result is the reduction of approximately 4,700 tons of CO2 and using 3,000 barrels less of oil.

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.  

[JMKeynes]

If this project and the new tower on the church site are both constructed, they will be two VERY nice additions to Brickell.

[colemonkee]

Solar glass on skyscrapers I think in 10 years will be similar to airbags in cars: it will be a standard feature, once costs come down, which eventually they do. And I think we'll start to see re-clads of existing structures come with solar glass. This will (hopefully) be a first true test case of a large tower (we've had smaller - and larger - buildings proposed with solar panels and solar glass panels for over 7 years now).

[chris08876]

[Zapatan]

omg yes

[Altoic]

I'm assuming this will be about 880FT

[Zapatan]

Originally Posted by Altoic

I'm assuming this will be about 880FT

Could be higher since the amenity levels alone are 860 feet up

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.

[dave8721]

Interesting that the building standing there now is Ytech's own offices. I assume there will be some office space to replace their existing offices which they will demolish?
Existing building on the site: https://www.google.com/maps/@25.7595...7i16384!8i8192

[chris08876]

World’s First Solar-Powered Residential Skyscraper Planned in Brickell

Plans have been announced for a 70-story residential tower called The Residences at 1428 Brickell that will be be partially powered by solar panels into the building’s glass.

It will be the first residential high-rise in the world partially powered by the sun, the developer says.

The Residences at 1428 Brickell will also be one of the tallest building’s in the area, with an amenity level at 860 feet above ground.

On the west side of the tower, a nearly 20,000-square-foot “solar backbone” is planned, with 500 photovoltaic-integrated windows. The lifespan of the solar panels will match the windows, the developer said.

The system will be capable of generating 170 megawatts of solar energy per year, which would result in the reduction of approximately 4,700 tons of CO2 and the use of 3,000 barrels less of oil.

A total of 189 residential units are planned, with prices ranging from $2 million to over $40 million.

Ceiling heights will start at 11 feet, with penthouse units ranging from 12 to 30 feet.

There will be eight amenity levels totaling 80,000 square feet, including five amenity levels at the top of the tower and a rooftop pool and atrium on Level 70. Another pool will be located on level 7, along with guest suites.

Architecture is by ACPV Architects Antonio Citterio Patricia Viel along with Arquitectonica, with interior design also by ACPV.

Cosentini Associates is the solar energy consultant.

John Moriarty Associates is the contractor.

Ytech, Led by CEO Yamal Yidios, is the developer.

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NXT

[JMKeynes]

I hope that this gets built.

[chris08876]

75-Story Tower At 1428 Brickell Submitted To UDRB Review

Plans for a 75-story tower at 1428 Brickell Avenue have been submitted to the Urban Development Review Board.

According to the newly submitted plans, 1428 Brickell is planned to include:

284 dwelling units
related amenities
456 parking spaces in six levels of garage (clad with artistic limestone)
The height of the tower is planned to reach 861 feet.

A representative of the developer describes the design:

The Project’s design responds primarily to human scale and pedestrian interests. The Project complies with the Brickell Financial Established Setback Area requirements, providing a thirty (30) foot setback along the Brickell Avenue frontage which allows for large sidewalk areas to be improved with landscaping and hardscaping, enhancing the pedestrian realm and experience. The current condition at the Property includes a narrow sidewalk with stairs and an elevated platform which discourages pedestrian interaction with the Property. The Property currently lacks any significant landscaping or tree canopy onsite which will be remedied by the development of the Project which features a robust landscaping plan incorporating native trees that are appropriate for the area and can provide shade to pedestrians.

Ytech is the developer, with Arquitectonica the architect.

The UDRB Hearing is scheduled for November 16.

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NXT

[JMKeynes]

This looks great

[chris08876]

The Residences At 1428 Brickell Converts To Contracts

The developer planning the 70-story condo building known as The Residences at 1428 Brickell has converted reservations into contracts, according to a press release.

The tower recently received an approval recommendation from the Urban Development Review Board, and is currently seeking permits to commence construction, the release said.

“The Residences at 1428 Brickell has been incredibly well-received in the market and has generated tremendous momentum and reservation activity since launching two months ago,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, which is handling sales.

According to the developers, The Residences at 1428 Brickell will be the first high-rise residential tower in the world to be partially powered using solar energy.

The tower is being designed by ACPV ARCHITECTS led by Antonio Citterio and Patricia Viel, with architecture by Arquitectonica.

Completion is slated for 2027.

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NXT

[JMKeynes]

This is a beautiful tower.

[NYguy]

Not sure which one this is, but it's not too far. It's another 800 footer/residential...


https://oeaaa.faa.gov/oeaaa/external...46539583&row=2

Site Elevation: 21
Structure Height: 853

Work Schedule: 07/01/2023 to 10/31/2026

[wpolom]

Originally Posted by Zapatan

Could be higher since the amenity levels alone are 860 feet up

The tower height will be 861 FT AGL.