NGD Homesharing, LLC issued a press release today saying that it had agreed with Airbnb to settle lawsuits filed by the two companies.
Airbnb had sued NGD in January to get out of a partnership, and NGD had filed a countersuit. Both lawsuits have been settled for undisclosed terms.
“I am happy this litigation is behind us and now it’s business as usual, said Founder and CEO Harvey Hernandez of NGD Homesharing, LLC. “I look forward to continuing work with Airbnb and other home sharing booking platforms in the future.”
NGD will operate the 50-story Natiivo tower planned to break ground later this year in Miami. More than 50% of units have been sold.
Attorney Michael G. Austin, from McDermott Will & Emery, LLP, who represented NGD in the lawsuits, said that “NGD and Airbnb have reached a mutually acceptable settlement of their business disputes, and both parties have now dismissed their respective lawsuits with prejudice to effectively end all litigation between them. The parties can now focus their energy on moving forward with their respective business operations.”
Natiivo recently opened a sales gallery near the project site.
The tower is being designed by Arquitectonica with interiors by Urban Robot. Completion is scheduled in late 2022.