Ytech Secures $25 Million Construction Loan From Banesco USA For Nolan House Expansion In Miami

A construction loan of $25 million was secured by Ytech for the expansion of the historic Nolan House located at 1548 Brickell Avenue in Miami’s Brickell district. The asset has a size of 9,172 square feet and is situated on 0.4 acres. The expansion aims to increase the property into a 32,686-square-foot headquarters, while still preserving the character of one of the last “Millionaire’s Row” homes.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $25,000,000
• Address: 1548 Brickell Avenue
• Market: Miami
• Lender: Banesco USA
• Landlord: Yamal Yidios - Ytech
• Note: The project adds office and gallery space for Ytech as part of its ongoing Brickell expansion strategy.

Yamal Yidios represents Ytech in this transaction, working alongside Banesco USA to finance the expansion project. The development is expected to complement Ytech's nearby 70-story condo project, enhancing the overall landscape of the Brickell area.