Developer Ytech obtained a $25 million construction loan to expand and renovate the historic Nolan House on Brickell Avenue in Miami.
Miami-based Banesco USA provided the mortgage to Ytech, through affiliate Ytech 1548 Brickell Avenue LLC, for the 18,000-square-foot site at 1548 Brickell Ave. It currently has a 9,172-square-foot office that was built in 1926.
Ytech, led by CEO Yamal Yidios, said it will build a five-story addition to the west side of the property so the entire property will total 32,686 square feet, while maintaining the historic building. The facility will serve as Ytech’s headquarters and its “experience gallery” sales center.
“This expansion is about optimizing our operating model to create a leap in value for both the broker community and our buyers,” Yidios said. “Our objective is to be the benchmark for quality in this market, and that requires aligning design, construction, marketing, sales, and our projects’ various sales galleries under one roof. It builds accountability, creates disciplined execution, and drives growth through the quality of the customer experience.”
Recreational Design & Construction is the general contractor of the project, and the interior design was by ACPV Architects in Milan, Italy. Historic preservation architect Jorge Hernandez is advising Ytech on preserving the historic Nolan House. The work should be completed in late 2027.
Ytech already spent $22 million restoring the Nolan House after purchasing it for $6 million in 2021.
The sales gallery will showcase Ytech’s Residences at 1428 Brickell condo. That 70-story project obtained a $565 million construction loan in November 2025. The developer said it’s more than 60 percent pre-sold.