Ytech Buys Land In Brickell Where Up To 80 Stories Can Be Built

Real estate investment and development firm Ytech has completed the purchase of a property in Brickell, and says it can be build up to 80 stories there.

The company paid a total of $12.2 million for two adjacent properties at 41 and 75 Broadway, across from Simpson Park.

Combined, the properties have 16,000 square feet.

Ytech also purchased an additional 144,000 square feet in transferable development rights.

Here’s what Ytech says it can now build on the property, when including the TDRs:

  • Up to an 80 story tower
  • An estimated 183 luxury residential high-rise units
  • approximately 432,000 square feet in total development

Ytech also owns 1428 Brickell Avenue, which it purchased in 2017.

“We are pleased to overcome numerous obstacles, including acrimonious litigation that had stretched out for nearly a decade, to assemble these prime properties and create new development prospects for Ytech in the prestigious Brickell Avenue area,” chief executive officer Yamal Yidios said. “We have a long-term strategic interest in Brickell and view this transaction as a natural extension of the acquisition of 1428 Brickell Avenue in 2017.”

 

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Azarius
3 months ago

Glad to hear about some movement in this area of Brickell. It’s been neglected for some years

Anonymous
3 months ago

Uh.. what movement?

Anonymous
3 months ago

“Long term interest in Brickell” meaning expect this to stay the same for at least another 6-8 years at least. YTech has never developed anything near 80 floors so I wish them luck

Anonymous
3 months ago

Sounds like an anti-Mana rant (just substitute Mana for YTech). Some people just gotta hate.

Anonymous
3 months ago

Why is one Broadway the apartment building across the street completely empty?

Anonymous
3 months ago

Supposedly its been fully renovated.

Anonymous
3 months ago

There’s never going to be an 80-story project there, what is ytech smoking, first of all the zoning won’t allow it, second both lots together are barely 15,000 SQ. It will never make any financial sense to build such a tall tower there, this is more marketing than anything else, they’re gonna sit on those lots for a decade.

Anonymous
3 months ago

Who said anything about building an 80 story project there? The article stated they are “allowed to build” up to eighty stories there. Ytech hasn’t announced any plans for the properties yet.

Anonymous
3 months ago

The whole block needs to be assembled and merged with the former Capital at Brickell site for something substantial.

Anonymous
3 months ago

this right here! the area needs it! the area behind it with the Underline as well.

Anonymous
3 months ago

This is one the big

Anonymous
3 months ago

This is one of the big

Anonymous
3 months ago

That’s not a lot of land to build on. That’s the same as my house.

Anonymous
3 months ago

Your house is in Brickell?

Anonymous
3 months ago

Key Biscayne. The beautiful island in the background that you pay money to look at.

Anonymous
3 months ago

You mean, it doesn’t cost you anything to live there?

Anonymous
3 months ago

Money well spent

Anonymous
3 months ago

Oh, so what you’re saying is that you are another one of those Key Biscayne snobs?

Anonymous
3 months ago

That’s your opinion. We have plenty of affordable condos that are steps away from the beach.

Anonymous
3 months ago

Well, I’m not the one who said “Key Biscayne. The beautiful island in the background that you pay money to look at.”

It seems you are saying us poor slobs on the other side of the bridge must pay just to look at where you live.

Anonymous
3 months ago

Just build 4 to 5 thirty to forty story residential towers there and call it a day.

Anonymous G
3 months ago

Time to get going on this project asap!!

Anonymous
3 months ago

Funny, I must be blind because I don’t see any project announced.