Ytech’s Yamal Yidios with 1500 Brickell Avenue (Getty)
Developer Yamal Yidios obtained a historic Brickell Avenue château, with options to restore and renovate the home.
Yidios’ Ytech acquired the Château Petit Douy at 1500 Brickell Avenue in Miami by buying the enterprise that owned the true estate, records show. The seller is an affiliate of Cheval Holdings, which experienced partnered in 2019 with Chef Clay Conley’s Ember Team to start the restaurant Chateau Miami. It hardly ever opened.
Coconut Grove-primarily based Mast Capital, led by Camilo Miguel Jr., bought the 5,837-square foot building to Chateau Petit Douy LLC in 2018 for $6.3 million. Mast said at the time that the consumer was controlled by the hospitality group that would be bringing a cafe to the area.
Completed in 1931 on a .4-acre corner whole lot, Château Petit Douy was motivated by the Priory in Saint Julian, France. It was selected historic in 1983.
It’s unclear how substantially Ytech compensated for the firm that owns the authentic estate. A spokesperson for the developer, and the developer’s legal professional in the deal, Stuart Kapp of KappMorrison, declined to disclose a gross sales cost. Ytech reported the seller was a superior-net-worth household.
Ytech programs to comprehensive a multimillion-greenback restoration and renovation of the developing at 1500 Brickell Avenue by the first quarter of upcoming calendar year.
The offer boosts Ytech’s holdings in Brickell. The downtown Miami-based agency also owns the houses at 1428 Brickell Avenue, 1548 Brickell Avenue and 75 Southwest 15th Street, in accordance to a press launch. Ytech paid $12.2 million for the latter progress internet site early very last yr, the place it designs to establish an 80-story, 183-device luxury tower.
Ytech has produced a lot more than 7,000 residential models in 25 towns in the Southeast, according to the release.
