The Real Deal Miami

Dallas developer buys PH at 1 Hotel & Homes

Buyer sold a condo at W South Beach in January
By Katherine Kallergis | March 14, 2018 08:45AM

Penthouse 1617 at 1 Hotel & Homes

Dallas developer Joe Beard just closed on a new penthouse at 1 Hotel & Homes South Beach, about a month after selling his penthouse at the W South Beach.

Beard’s Westdale LLC paid $5.6 million for unit PH-1617, according to a spokesperson for the development. The developer, a joint venture between LeFrak and Starwood Capital Group, sold the three-bedroom, 2,781-square-foot unit. The condo also features a 255-square-foot terrace, a den and three-and-a-half bathrooms. Brazilian designer Debora Aguiar designed the fully furnished unit.

The buyer is managed by Beard, Westdale Real Estate Investment Management’s CEO. In January, Westdale W LLC sold penthouse 2 at the W South Beach for $8.7 million to plastics executive David Berges, former head of Hexcel.

In the 1 Hotel & Homes sale, Luis Gonell of Engel & Völkers Miami represented the buyer. Tracy Galya of Douglas Elliman represented the developer.

1 Hotel & Homes, at 102 24th Street, launched condo sales in 2013, and opened in 2015. The developer registered to sell its remaining units in New York a year later.