The Federal Aviation Administration has received an application requesting permission to construct a 1,049-foot supertall structure at 1428 Brickell Avenue in Downtown Miami. The property sits at the intersection between Brickell Avenue and Southeast 14th Terrace, just across the street from the Four Seasons Residences Miami. The current owner of the site is Miami-based real estate developer Ytech, listed as Ytech 1428 Brickell LLC according to the public records, who purchased the site back in January of 2017 for just over $26 million from The Taplin Company LTD.
There are few details that have been released as far as what the plans are for the property, but it seems Ytech does intend to build a massive luxury development at the site of the 9-story BankUnited Office Building, which has stood at the address since 1971. The old structure yields 100,762 square feet on 49,983 square feet of land, or nearly 1.15 -acres, but the developer has the right to build an 825,000-square-foot structure thanks to air rights. According to the developers website, “Residences with immaculate design, superior location and hotel-like services…” could be coming to the property. The structure itself is proposed to be 1,040-feet in height, elevated 9 feet above sea level for a total of 1,049 feet which is the maximum permissible height as per the FAA.
1428 Brickell Avenue. Courtesy of Ytech.
Ytech also owns a nearby property where an 80-story structure is allowed, and in the property map below, another identical looking massing is seen at what is known as 75 Broadway. The sites are merely just a block away from each other, and it means there is potential to see not one but two supertall towers rising in Brickell.
Ytech Porperties. Courtesy of Ytech.
Cityscape + Subject Property. Courtesy of Google Maps.
BankUnited Office Building. Courtesy of Google Maps.
Property Information. Courtesy of the Property Appraiser.
According to The Next Miami, A Ytech spokesperson said that further details of the project will be released once they begin sales and marketing.
The application for 1428 Brickell Avenue was submitted on July 30, 2021 and is still pending approval.
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Sounds like a flip job to me, hopefully not..