Ytech, a prominent real estate developer, has secured a significant predevelopment loan of $19.5 million from Israel Discount Bank to fuel the creation of a new ultra-luxury condominium tower at the Broadway assemblage in Miami’s rapidly expanding Brickell neighborhood.

The new development will be located on a 0.3-acre site at 41 and 75 Southwest 15th Road, just two blocks west of Brickell Avenue and directly across from Mast Capital’s Cipriani-branded condo complex. This prime location places the project at the heart of Brickell’s transformation into one of the city’s most sought-after neighborhoods.

Currently, demolition is underway at the site, where a one-story multifamily building and a two-story office structure, both dating back to the 1940s and 1950s, are being cleared to make room for the new ultra-luxury condo tower. The Broadway assemblage was acquired by Ytech between 2018 and 2020 for $8.2 million, according to property records.

CEO Yamal Yidios expressed his enthusiasm for the project, stating, “With the predevelopment loan secured and demolition underway, we are setting the stage for a transformative development at the Broadway assemblage. These milestones, along with the recent groundbreaking of The Residences at 1428 Brickell, exemplify Ytech’s commitment to delivering the most exceptional developments in Brickell.”

Ytech has been a key player in the development of Brickell, with its recent groundbreaking of The Residences at 1428 Brickell, a 70-story solar-powered luxury condominium tower. Earlier this year, the company secured $78 million to refinance its acquisition loan for the 1.1-acre site at 1428 Brickell Avenue, further cementing its position as a leader in the area’s rapid growth.

The Broadway assemblage project is expected to be another standout in Brickell’s luxury real estate market, reinforcing Ytech’s strong presence in the region.