The developer of Miami condo project BrickellHouse has resolved a foreclosure lawsuit by paying off a lienholder.
Lienholder JBG Development dismissed the foreclosure action after getting $17 million and attorney fees from BrickellHouse developer Harvey Hernandez, a business partner and the company created to build the project, Miami Herald reported. JBG filed the lawsuit last month on a nearly $16 million mortgage that was not scheduled to mature until mid-2016. Hernandez told the Herald his company obtained another loan to satisfy the JBG mortgage.
The 374-condo BrickellHouse at 1300 Brickell Bay Drive is nearly sold out. Hernandez expects the building to be topped off in December and construction to be completed in mid-2014. [Miami Herald] — Eric Kalis