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300 Northeast 3rd Avenue

Simon Dushinsky Secures $50.55 Million Predevelopment Loan For Ombelle Fort Lauderdale With Equinox Tenant
FINANCEDMixed-use

Simon Dushinsky Secures $50.55 Million Predevelopment Loan For Ombelle Fort Lauderdale With Equinox Tenant

300 Northeast 3rd Avenue

$50,550,000

Building Size

Asset Type

Mixed-use

Closing

Apr 13, 2026

AI

The mixed-use asset located at 300 Northeast 3rd Avenue in Fort Lauderdale consists of 775 units and is currently undergoing predevelopment. The property has secured a loan amounting to $50,550,000 to aid in its development efforts.

Summary of transaction details:

Ombelle Fort Lauderdale is being developed by Brooklyn-based Dependable Equities, with Equinox as its newest tenant. The 35,000-square-foot lease within the property will house Equinox's fitness programming and premium amenities, contributing to the lifestyle offerings available at the development.

Players

Steven Hersko

SHB Group

Broker

$266.9M

vol

5 deals

Broker
DT
Dwight Mortgage TrustLender

Dustin Braham

Originator

$538.4M

vol

10 deals

Originator

Fort Lauderdale Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93