The asset involved in this transaction is a development site located at 41 & 75 Southwest 15th Road in Miami. The site spans 0.3 acres and was acquired for $8.2 million between 2018 and 2020. The current market is noted for the luxury condo project being developed on this site, which is situated across the street from Cipriani Residences. Existing structures are currently being demolished as part of the predevelopment process.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $19,500,000
• Address: 41 & 75 Southwest 15th Road
• Market: Miami
• Lender: Israel Discount Bank
• Landlord: Yamal Yidios - Ytech
• Acreage: 0.3

Ytech secured a predevelopment loan from Israel Discount Bankfor the luxury condo project named 41 and 75 Broadway. Additionally, Ytech is involved in the ongoing development of The Residences at 1428 Brickell.