Hopeful property owners find beauty, luxury and multimillion dollar disasters with Miami developer Harvey Hernandez

(PR NewsChannel) / November 10, 2017 / MIAMI, FL 

Lifelong Miami residents have come to know the Brickell neighborhood as the city’s finance capital. What started as the city’s “Millionaire’s Row” evolved into a densely packed skyline featuring some of the world’s largest banks, financiers, investors and more. As Brickell’s trendy fashion and art community grows, it has also become one of the hottest living areas in Miami.

With demand at an all-time high, the 2011 announcement of Brickell House was a dream come true for hopeful property owners wanting to get in on the neighborhood’s growth. Luxurious amenities, customizable layouts and design, on-site shops and restaurants, it’s no surprise the property sold 98% of its units within 90 days. Newgard Development Group, owner of the property and headed by Harvey Hernandez, would soon announce plans to open three more locations in surrounding South Florida locations.

In true Miami fashion, a major selling point was exclusive access (and bragging rights) to the first and only RoboticValet, an automated parking garage structure. No more finding a space, simply park in the unit and the system stores the car for you. And in true idiomatic fashion, the RoboticValet was too good to be true.

Within several months of opening residents would wait up to a half hour for the system to find their vehicle. Frequent breakdowns and an overall poorly constructed system required 24/7 on-site attendants and maintenance workers.

“The place is a classic example of ‘lipstick on a pig,’ reads one resident’s review of the property. “I feel very sorry for anyone who actually bought here.”

As repair bills mounted, the parking garage was shuttered, forcing residents to park off property at their own expense. Boomerang Systems, owner of the RoboticValet, stopped receiving funding from their primary investor, Parking Source LLC, also headed by Harvey Hernandez. Newgard Development Group then transferred condo association rights to the residents, leaving behind a multimillion dollar scrap heap in the basement.

Within two years, Brickell House’s largest amenity was irreparably broken. Both companies responsible for the mess, and partnered with or headed by Harvey Hernandez, had abandoned the property.

The condo association filed suit against Harvey Hernandez for $25 million in damages in 2016. It would take another year for a different company to remove the RoboticValet and install a new system for residents to use.

Around this point in the story, most readers would assume a disaster like Brickell House is a career-ending project for Harvey Hernandez. However, the recent announcement of Niido has not only put him at the helm of a another apartment project featuring ground breaking technology, but has made him the close partner of home-sharing pioneer Airbnb.

Former residents and property owners of the last great Harvery Hernandez project urge potential customers to take their experience as a lesson and a warning.

Direct link:  https://prnewschannel.com/2017/11/10/hopeful-property-owners-find-beauty-luxury-and-multimillion-dollar-disasters-with-miami-developer-harvey-hernandez/

SOURCE:  Citizens for a Transparent Miami

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