Steven Gut & Jeff Gut - IDEAL Capital Group Acquire Retail Property In Pompano Beach For $5.6M

The retail property located at 1301 SW 1st Court in Pompano Beach, Florida has been sold in a recent off-market transaction. The property spans approximately 30,000 square feet and is situated on a hard signalized corner at the intersection of W Atlantic Blvd and N Andrews Ave. The sale was facilitated by broker Jason Abitbol of Apex Capital Realty, who represented both the buyer and the seller.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $5,600,000
• Date: 12/30/2021
• Address: 1301 SW 1st Court, Pompano Beach, Florida
• Market: Pompano Beach
• Buyer: Steven Gut & Jeff Gut - IDEAL Capital Group
• Seller: Atlantic 95 LLC - Gary Lampert
• Broker: Jason Abitbol - Apex Capital Realty
• Square Footage: 30,000
• Price per Square Foot: $187

This transaction presented a true value-add opportunity for the buyers, as 20% of the building was delivered vacant at the time of closing. The buyers, operating through an entity controlled by IDEAL Capital Group, were able to complete the acquisition in less than 30 days. It is worth noting that Jason Abitbol represented both sides of the transaction, showcasing his expertise in the real estate market.