Dependable Equities Secures $50M for Fort Lauderdale Towers
Brooklyn-based developer closes pre-construction financing for 775-unit Ombelle complex. The dual-tower project represents one of dozens of residential developments planned across Broward County.
Brooklyn developer Dependable Equities has secured $50 million in pre-construction financing for its ambitious Ombelle Fort Lauderdale development, marking a significant capital milestone for one of Broward County's most anticipated residential projects.
Dwight Mortgage Trust provided the funding for the dual-tower complex planned at 300 Northeast Third Avenue. Steven Hersko's SHB Group facilitated the transaction. Isaac Schlesinger's Dependable Equities, working alongside co-owner Simon Dushinsky of Rabsky Group, expects to obtain an additional $300 million in construction financing as development advances.
The Ombelle project encompasses 775 residential units distributed across two 44-story towers. ODA Architecture designed the complex to feature furnished accommodations ranging from studios to four-bedroom residences. Sales launched in 2024 with units starting around $400,000, while Douglas Elliman handles marketing and sales operations.
Amenities at Ombelle will span 100,000 square feet and include dual swimming pools, a comprehensive fitness center, spa facilities, indoor pickleball courts, co-working spaces equipped with podcasting rooms, a private dining area, children's playroom, and theater. The development will also incorporate ground-floor retail space and house a 35,000-square-foot Equinox Fitness Club.
Construction completion is targeted for 2028. Dependable Equities acquired the 1.9-acre development site for $27 million in 2021, according to property records. The company has additional plans for a 47-story rental tower containing 830 units at 633 Southeast Third Avenue.
Ombelle joins an extensive pipeline of residential construction across Broward County, where developers are advancing at least 3,900 new condominiums and apartments. The majority of these projects are concentrated in Fort Lauderdale and Pompano Beach markets.
Notable competing developments include Miki Naftali's Viceroy Residences Fort Lauderdale, a 45-story tower with 370 units that launched sales in 2024. Related Group, Tate Capital, and Rok Acquisitions are collaborating on the St. Regis Resort and Residences at Bahia Mar Fort Lauderdale, transforming the 40-acre oceanfront hotel property.
The substantial development activity reflects continued investor confidence in South Florida's residential market, particularly in Fort Lauderdale's urban core where high-rise construction is reshaping the skyline. Pre-construction financing arrangements like Dependable Equities' recent deal enable developers to advance projects through initial phases while securing larger construction loans.
