The capital stack behind the build
Ytech closed $565 million in construction financing for The Residences at 1428 Brickell in November 2025. J.P. Morgan holds the senior position and Sculptor Real Estate holds the junior position. Melissa Rose and Brian Gaswirth of JLL Capital Markets arranged the loan. Florida YIMBY reported the closing on 4 November 2025 and described it as one of the largest residential project loans in the United States that year.
The same report put sales above 60 percent of the 195 residences. Groundbreaking ran in November 2024. Florida YIMBY attributed a late-2028 completion to the developer on 3 September 2026, and that report uses the word anticipated.
Two price bands twelve months apart
Ytech priced the same homes twice. The 14 November 2024 release listed two- to four-bedroom residences of 1,800 to 4,000 square feet at $3 million to $7 million. The November 2025 financing report listed that size band at $4.4 million to $10 million.
The floor of the range rose by about 47 percent and the ceiling by about 43 percent over twelve months. Neither document states a cause and neither withdraws the other.
The penthouse record moved the same way. The 2024 release named one $60 million penthouse and further penthouses from $8 million. The 2025 report named two upper penthouses at $60 million each and a Lower Penthouse Collection at $10 million to $20 million.
What Ytech holds elsewhere on Brickell
Two other addresses sit in Ytech's Brickell portfolio. Seven Broadway is a 54-story residential tower designed by Kohn Pedersen Fox at 41 and 75 Southwest 15th Road. Ytech submitted plans to Miami's Urban Development Review Board in July 2025. That filing describes 113 residences, 193 parking spaces, 400,892 square feet and a height near 683 feet. Homes run from 1,380 to 5,932 square feet. Levels 46 through 48 hold three full-floor penthouses. YIMBY reported that Ytech assembled the site between 2018 and 2020 for about $8.2 million and holds a $19.5 million pre-development loan from Israel Discount Bank. The developer has announced no construction timeline.
Nolan House at 1548 Brickell Avenue is the second. Ytech bought the 1926 residence of banker George E. Nolan in 2021 and spent $22 million restoring it. A five-story expansion takes the property to 32,686 square feet. Banesco USA supplied $25 million. Recreational Design & Construction is general contractor, ACPV ARCHITECTS Antonio Citterio Patricia Viel handles interiors and Jorge Hernandez is design architect. Work was expected to begin in the second quarter of 2026 and finish by the end of 2027. The building becomes Ytech's headquarters and a shared gallery for its projects.
Where a four-year build places Brickell supply
1428 Brickell started in November 2024 and lands in late 2028. Seven Broadway has filed review plans and carries no construction date. Nolan House finishes first, in 2027, and adds no housing.
The 1428 Brickell mat foundation went in during September 2025 after a 33-hour pour of about 13,000 cubic yards. The tower stood at Level 25 on 3 September 2026, per a Ytech LinkedIn post that Florida YIMBY cited. Level 25 of 70 stories is about 36 percent of the floor count.
What the delivery target leaves open
No certificate of occupancy has been published for the project. The material reviewed here carries no closing date and no handover schedule.
Two further items stay absent from the record. It carries no HOA figure, no parking count and no unit mix beyond the bedroom range. It carries no rental programme, no hotel flag and no management agreement.
For a lodging underwriter on Brickell, the price record sets the expectation at handover. Two published ranges for identical square footage sit twelve months apart. The loan size and the presale ratio describe what the lenders accepted on the same evidence.