Cervera Real Estate is parting ways with Natiivo Fort Lauderdale, months after launching sales of the condo project, The Real Deal has learned.
Harvey Hernandez’s Newgard Development Group tapped the Miami-based brokerage to handle sales and marketing of the planned 40-story, 384-unit condo tower planned for the site at at 200 West Broward Boulevard. Prices for the short-term rental-friendly, fully furnished units started at $500,000. Units will include studios, one-, two- and three-bedroom condos.
Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, told The Real Deal on a call that included Hernandez that they both met and “decided it would be a good time to move on” from the project. They are still working together on Lofty Brickell in Miami.
“Cervera has other commitments that make it complicated for us to work on that job,” Lamadrid said.
The brokerage will likely be taking on sales and marketing for a competing development.
Natiivo is about 20 percent presold, Hernandez said. Construction could begin in the second quarter of next year. Hernandez said he plans to announce Cervera’s replacement later this month.
Cervera will receive commissions for the units it sold, Lamadrid said. Reservations are being converted to contracts.
Newgard paid $31.2 million for the 1-acre site at 200 West Broward Boulevard late last year. Kushner Companies and Aimco sold the property.
Miami-based Arquitectonica is designing the tower, and Pompano Beach-based IDDI is handling interiors. Amenities in the building will include a pool, lounge, fitness center, spa facilities and a restaurant on the ground floor, according to the release.
A number of new condo projects are planned in Fort Lauderdale, and more are expected to launch sales later this year, sources say. In October, Related Group, Tate Capital and Rok Acquisitions launched sales of the St. Regis Resort and Residences, Bahia Mar Fort Lauderdale during the Fort Lauderdale International Boat Show.
Vertical Developments, GCF Development and WellDuo kicked off sales of the planned 20-story, 36-unit Riva Residenze luxury condo tower, which will be branded by the Italian yacht maker Riva.
And Brooklyn developer Dependable Equities began selling the 775-unit luxury condo project called Ombelle Fort Lauderdale, which is set to rise at 300 Northeast Third Avenue near the Flagler Village neighborhood.