Kushner Companies has filed a lawsuit against developer Harvey Hernandez over an alleged default on a $22.9 million loan connected to a Fort Lauderdale property. The legal action, filed Thursday in Miami-Dade Circuit Court, names Hernandez as the personal guarantor of the loan.
The dispute centers around a 1-acre development site at 200 West Broward Boulevard, located near Fort Lauderdale’s Brightline station. The property is owned by an affiliate of Newgard Development Group, which is led by Hernandez and based in Miami. Plans for the site include Natiivo Fort Lauderdale, a proposed 40-story condominium designed to allow short-term rentals and totaling 384 units.
According to court documents, Newgard purchased the land from Kushner and Aimco for $31.2 million in 2023. That same year, Kushner issued a $21.2 million mortgage to Newgard, which the latter allegedly failed to repay by its June 15 maturity date. The total amount claimed by Kushner includes fees and interest.
To secure the mortgage, Newgard pledged all its equity interest in the development entity as collateral, according to the foreclosure complaint currently pending in Broward County Circuit Court.
The complaint filed in Miami-Dade states that Hernandez “absolutely and irrevocably guaranteed and promised to pay the lender, among other things, for any losses, costs, judgments, awards, court costs and legal or other expenses.”
In addition to seeking repayment of the loan balance, Kushner is asking for a court order requiring Newgard’s affiliate to turn over $23,471 in monthly rent it collects from operating a parking lot on the site.
Sales for Natiivo Fort Lauderdale began last year with Cervera Real Estate initially handling marketing efforts before One Sotheby’s International Realty took over in December. Construction has not yet begun on the project.
Newgard’s portfolio also includes partnerships with Two Roads Development on Lofty Brickell and Standard Residences—two condominium projects underway along Miami River in Brickell. In September of this year, these partners secured $513 million in construction financing for those developments.
Hernandez did not respond to requests for comment about the lawsuits. An attorney representing Kushner declined to comment as well.
