Kushner Companies is eyeing a Fort Lauderdale site where Miami-based developer Harvey Hernandez plans a mixed-use tower with short-term rental-friendly condominiums.
An affiliate of New York-based Kushner, led by Laurent Morali and Nicole Kushner Meyer, is seeking to foreclose on the 1-acre site at 200 West Broward Boulevard near Fort Lauderdale’s Brightline station, where Hernandez’s Newgard Development Group is planning a 40-story tower with 384 units, Broward County court records and real estate database Vizzda show.
Newgard launched sales for the project, known as Natiivo Fort Lauderdale, in February of last year, two months after the developer bought the property from Kushner Companies and Aimco for $31.2 million. In December, the developer tapped One Sotheby’s International Realty to take over sales from Cervera Real Estate.
The Newgard entity that owns the Natiivo Fort Lauderdale site allegedly failed to repay a $22.9 million mortgage, including fees and interest, by a June 15 maturity date. In 2023, the Newgard entity obtained a $21.2 million loan from Kushner, records show. To secure the mortgage, Newgard pledged 100 percent of its equity interest in the development entity as collateral, the foreclosure complaint states.
Hernandez did not respond to a text message seeking comment. Kushner representatives also did not respond to requests for comment.
Natiivo Fort Lauderdale will have a mix of studios, one-bedroom-, two-bedroom and three-bedroom condos, which buyers will be allowed to rent on a short-term basis. Prices range from the $600,000s to about $1.8 million, according to Newgard.
Designed by Coconut Grove-based Arquitectonica, the planned high-rise will also include a six-level parking podium with 390 spaces, 52,173 square feet of offices, 7,527 square feet of retail and a 3,354-square-foot restaurant, according to Vizzda.
Meanwhile, Newgard and its partner Two Roads Development are looking to sell a portion of a waterfront assemblage in Miami’s Brickell neighborhood. In February, the joint venture went under contract to sell a 1-acre property at 66 Southwest Sixth Street and 625 Southwest First Avenue to Miami Beach-based Prosper.
Newgard and Two Roads still plan to develop two other towers, Lofty Brickell and the Standard Residences, Miami, on the site, which is along the Miami River.
