Equity Financial Group is providing on-site mortgage services exclusively to the units' buyers, and the company's sales and marketing division has teamed up with EB Developers' on-site sales staff to sell the units. According to EB Developers principal Elie Berdugo, when the sales staff arrived at 6 a.m. the first day of sales, many people were waiting to reserve a unit, and during the first weekend, 1,032 people registered at the sales center. Phase two consists of 94 units, and phase three has another 108 residences, which are scheduled to be released in the middle of this month.

The sales have gone beyond EB Developers' expectations, according to John Markey, the company's vice president. Strong sales can be attributed to low interest rates, he says. "With interest rates still being so low and it being very much a seller's market, we could raise more money from the sale of individual condo units," Markey says. "We've sold our projects to condo converters in the past, but this is the first time we're doing it ourselves."

The Belmont at North Lauderdale opened offering one- and two-bedroom units that range from 878 sf to 1,553 sf and are priced starting at a little less than $1,000 a month. The sales prices of the one-, two- and three-bedroom condos range from $99,900 to $191,000 and the units are being sold as is or with upgrades that include granite countertops at an extra charge. Amenities at the Belmont include a resort-style pool, a heated spa, tennis courts, a clubhouse, a business center and a fitness center.