A one-acre lot at 8800 Southwest 64th Court in Pinecrest has sat partially built since 2002, and now the developer behind the stalled project owes its investment partner roughly $1.8 million after an arbitrator ruled the company failed to act in good faith to resolve financing and buy out its partner. The site sits directly across from Gulliver Preparatory School, a location that typically commands strong land premiums in North Pinecrest.
The award pits Miami-based Devtov Group, led by founder Juan Carlos Tovar, against Navja Corp., which is led by Mexican investor Enrique Navarro. As reported by The Real Deal, arbitrator Oliver J. Langstadt found that Navja proved the elements necessary for breach of contract under Florida law and ordered Devtov to pay Navja roughly $1.8 million plus damages, bringing the total owed to nearly $2 million. Navja and Devtov had formed the property-owning company, Mansions 8800, as a 50-50 joint venture, with the entity purchasing the lot for $1.6 million in 2021.
A Financing Standoff That Stalled the Project
According to the report, Mansions 8800 racked up more than $1 million in invoices to Devtov Group as general contractor, per the complaint, as construction dragged on and debt accrued. Navarro reportedly sought a hard-money loan from a private lender and separately contacted Professional Bank about financing, with a bank representative asking that he speak with Tovar directly. Professional Bank approved Tovar's application to guarantee a construction loan, but did not approve Navarro's loan-guarantee application because of insufficient assets, per the suit.
Tovar testified that Professional Bank would only provide the loan if he personally guaranteed the full amount, and he was unwilling to do so — telling the arbitrator he was not interested in the private lender's terms either. The stalemate, the arbitrator found, caused Navja and Navarro to lose confidence in a meaningful resolution and in recovering their investment. Devtov, for its part, sought to expel Navja as a controlling member of the property-owning company.
Arbitrator Faults Devtov's Effort to Reach a Deal
Langstadt wrote that Tovar and Devtov GP, LLC did not act with good faith diligence to resolve financing and a buyout, despite citing Tovar's experience building luxury homes in the Florida real estate market. The arbitrator said he was troubled by Devtov and Tovar's lack of effort to reach a buyout settlement with Navja, ultimately finding that Devtov's failure to pursue further financing constituted a breach of the obligation of good faith and fair dealing. Devtov Group filed the underlying Pinecrest lawsuit against Navja roughly one year before the ruling.
Josh Rubens, who represents Navja in the litigation, said the investor is very pleased with the arbitrator's ruling. Devtov Group said it covered property taxes, city fines and ongoing maintenance on the property while the dispute played out, and the company said it disagrees with certain findings in the arbitration award and is pursuing available legal remedies. Devtov said it would not comment further while the matter remains before the court.
A Narrow Path to Fight the Award
Devtov could appeal by asking a court to vacate the arbitration award, but Florida law sets an exceptionally high bar for doing so. Under Florida Statutes § 682.13, a court may only vacate an award on narrow statutory grounds such as corruption, fraud, evident partiality, or arbitrator misconduct, and any motion to vacate generally must be filed within 90 days of receiving notice of the award.
The house itself carries an unusual backstory. The property was originally built in 1956 as a home designed by celebrated South Florida modernist architect Alfred Browning Parker, according to All In Miami, before it was demolished and reduced to the partially constructed shell that has stood since 2002.
A Legal Fight on Multiple Fronts
The Pinecrest dispute is not Devtov's only active legal battle. In late July, the company filed a federal trademark infringement lawsuit in Miami against Madar Group USA over its Fisher Island development called The Mansions on Fisher Island, alleging Devtov has held the registered federal trademark for The Mansions since 2022 and used it commercially since 2013. Devtov built its business around the Mansions brand, which traces back to a 2014 joint venture between Tovar and the late South Florida developer Sergio Pino of Century Homebuilders that launched The Mansions at Doral, according to The Mansions.
Devtov Group says it has developed and delivered more than 400,000 square feet of high-end residential real estate across South Florida, with active projects in Doral, Pinecrest, Coral Gables and Bay Point, per Juan Carlos Tovar's company site. The $1.8 million judgment represents a fraction of that broader portfolio, even as the firm fights to protect both its finances and its brand identity in court.
Why the Site Still Matters in Pinecrest's Market
The stalled lot sits in one of Miami-Dade's hottest luxury pockets. A newly constructed 2022 estate in Northeast Pinecrest sold for $19.5 million in 2025, setting an all-time record sale price for a single-family home in the village. Pinecrest recorded 192 single-family home sales in 2025 with an average sale price of $3.53 million, and cash buyers accounted for 53% to 60% of closed transactions entering 2026, reflecting the deep pool of liquid, often foreign-backed capital chasing property in the area.
That capital flow has historically relied on joint ventures like the one between Navarro and Devtov, pairing foreign equity with local builders who navigate permitting and construction. But the market has also cooled somewhat: Pinecrest's luxury segment shifted to roughly 7.8 to 8 months of inventory supply by late 2025 and early 2026, with the median time to reach a contract stretching to 83 days — a shift that adds carrying costs and friction to stalled projects like the one at 8800 Southwest 64th Court. Whether Devtov will actually file a motion to vacate the award, and what becomes of the long-dormant lot across from Gulliver Prep, remains to be seen.
