Developer Yamal Yidios proposes a 54-story, 113-unit condo tower in Brickell.
Yidios’ Brickell-based Ytech wants to build the tower on about a half-acre property at 41 and 75 Broadway, which also is listed as 41 and 75 Southwest 15th Road in Miami, according to city records. The Miami Urban Development Review Board will vote on the project at its meeting on Wednesday.
Designed by Kohn Pedersen Fox Associates, the tower, called 7 Broadway, will have a brass-colored frame and floor-to-ceiling windows, renderings show.
Ytech paid $12.2 million for the site in 2021, also purchasing development rights that could have allowed for an up to 80-story, 183-unit luxury project, according to the firm’s 2021 news release announcing the deal.
Founded in 2006, Ytech has developed more than 7,000 residential units in 25 cities across the Southeast and has a $3 billion development pipeline of luxury condominiums, according to its website.
Also in Brickell, Ytech started construction of the 70-story, 189-unit Residences at 1428 Brickell condo tower last year, according to records. The project is at 1428 Brickell Avenue.
The firm’s other Brickell holdings include the historic Château Petit Douy at 1500 Brickell Avenue, a château built in 1931 that Ytech renovated.
Miami’s financial district has been the epicenter of South Florida’s real estate boom over the past five years. Brickell attracted many out-of-state companies that expanded or moved to the tri-county region since late 2020.
The office market as a whole has slowed, with Swire selling the site planned for the One Brickell City Centre office supertall due to a lack of preleasing. But developers have continued to file proposals for residential towers in Brickell.
Last month, Chilean developer Claudio Fischer proposed a 41-story, 544-unit residential tower on the former site of the Mexican Consulate on the northeast corner of Southwest First Avenue and Southwest 14th Street.
In May, Swiss development firm Empira Group scored a $111.3 million construction loan for the 26-story, 310-unit Perrin apartment tower at 244 Southwest Ninth Street in Brickell. Also, PMG nabbed $413 million in April to build the One Twenty Brickell Residences project with a 37-story, 266-unit condo tower and a 41-story, 537-unit apartment tower at 120 Southwest Eighth Street.
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