Kushner Companies has filed a lawsuit against developer Harvey Hernandez, seeking repayment of a $22.9 million loan related to a Fort Lauderdale property. The legal action was initiated on Thursday in Miami-Dade Circuit Court, where Kushner named Hernandez as the personal guarantor for the debt.
The dispute centers around a 1-acre site at 200 West Broward Boulevard, near Fort Lauderdale’s Brightline station. This property is owned by an affiliate of Newgard Development Group, led by Hernandez and based in Miami. Plans for the site include Natiivo Fort Lauderdale, a proposed 40-story condominium designed for short-term rentals with 384 units.
Kushner has also filed a foreclosure complaint in Broward County Circuit Court against Newgard’s affiliate that owns the land. According to court filings, Newgard acquired the site from Kushner and Aimco in 2023 for $31.2 million. That same year, Kushner provided Newgard with a $21.2 million mortgage, which allegedly was not repaid in full by its June 15 maturity date; accrued fees and interest brought the total owed to $22.9 million.
To secure this mortgage, Newgard pledged all of its equity interest in the development entity as collateral.
The Miami-Dade complaint states: “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 the court to order Newgard’s affiliate to turn over $23,471 per month that it collects from operating a parking lot on the development site.
Sales efforts for Natiivo Fort Lauderdale began last year with Cervera Real Estate handling initial marketing before One Sotheby’s International Realty took over in December. The project has yet to break ground.
Newgard is also involved in other developments through partnerships with Two Roads Development in Miami’s Brickell neighborhood along the Miami River. Their joint projects include Lofty Brickell and Standard Residences; together they secured $513 million in construction financing for these towers earlier this year.
Hernandez did not respond to requests for comment about the lawsuits. An attorney representing Kushner declined comment as well.
