Ytech has secured a significant $565 million in construction financing for The Residences at 1428 Brickell, a forthcoming 70-story luxury condominium building in Miami. This substantial funding, provided by J.P. Morgan and Sculptor Real Estate with JLL Capital Markets arranging the deal, will support the development of a project poised to redefine Miami’s skyline.
Key Takeaways
- A $565 million construction loan has been secured for The Residences at 1428 Brickell.
- The project is a 70-story, 195-unit luxury condominium tower.
- It is slated for completion in 2028 and will feature partial solar power.
- Residences will range from 1,800 to 4,000 square feet, with prices starting at $4.4 million.
A Vision for Sustainable Luxury
The Residences at 1428 Brickell, currently under construction, is set to become a landmark in Miami’s prestigious Brickell neighborhood. Upon its expected completion in 2028, the tower will stand as the first high-rise residential building in the area to partially operate on solar power. This innovative feature is made possible by photovoltaic glazing integrated into its west-facing facade, allowing the windows to generate solar energy.
Unparalleled Residences and Amenities
The development will offer 195 exclusive units, with sizes ranging from 1,800 to 4,000 square feet. Prices for these luxury homes will span from $4.4 million to $10 million. The pinnacle of the offering includes two extraordinary penthouses, each valued at $60 million. These expansive residences boast 30-foot ceiling heights, seven bedrooms, and nine bathrooms, providing an unparalleled living experience.
Residents will benefit from an extensive 80,000 square feet of community amenities. These include a state-of-the-art fitness center, a serene yoga room, an elegant wine lounge, a formal dining room, a luxurious spa, and three swimming pools, including a stunning rooftop pool. The building will also feature dedicated guest residences for visitors.
Prime Location and Exclusive Services
Strategically located in the heart of Miami’s vibrant Brickell neighborhood, The Residences at 1428 Brickell offers residents immediate access to a plethora of upscale dining and retail establishments. Its proximity to downtown Miami, just 1.5 miles away, and Miami International Airport, within 8 miles, ensures convenience for both local and international residents.
Adding to the exclusivity, residents will have access to a dedicated support staff, including an estate manager, a wellness concierge, and valet services at the building’s porte cochère.
Miami’s Booming Condo Market
The Residences at 1428 Brickell is part of a significant wave of luxury condominium development currently transforming Miami. Recent projects like Grupo T&C’s Edge House Miami and a redevelopment project by Terra, JDS Development, and investors Rafi Gibly and Gianluca Vacchi underscore the robust demand in the market. European investors, in particular, are increasingly drawn to Miami’s condo sector, with international buyers accounting for half of the trades in the 18 months leading up to June.