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
15 days ago

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

Anonymous
15 days ago

Uh.. what movement?

Anonymous
15 days 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
14 days ago

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

Anonymous
15 days ago

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

Anonymous
13 days ago

Supposedly its been fully renovated.

Anonymous
14 days 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
14 days 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
14 days ago

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

Anonymous
14 days ago

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

Anonymous
15 days ago

This is one the big

Anonymous
15 days ago

This is one of the big

Anonymous
15 days ago

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

Anonymous
15 days ago

Your house is in Brickell?

Anonymous
15 days ago

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

Anonymous
15 days ago

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

Anonymous
14 days ago

Money well spent

Anonymous
14 days ago

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

Anonymous
14 days ago

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

Anonymous
13 days 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
15 days ago

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

Anonymous G
15 days ago

Time to get going on this project asap!!

Anonymous
15 days ago

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