The Real Deal Miami

Jimmy Goldsmith sells North Bay Road home to real estate investor

Goldsmith and his wife Monica sold the home for $9M
By Amanda Rabines | September 27, 2018 02:30PM

2034 North Bay Road (Credit: Realtor.com)

Gator Investments’ James “Jimmy” Goldsmith and his wife Monica just sold their waterfront Miami Beach home to fellow property investor Joe Beard, CEO of Dallas-based Westdale Real Estate and Asset Management.

The 5,470-square-foot house at 2034 North Bay Road traded hands for nearly $9 million, or about $1,640 per square foot. Records show Jimmy Goldsmith paid $915,000 for the half-acre property in 1994. The five-bedroom, four-bathroom home was built in 1932.

The Goldsmiths own another home at 2940 North Bay Road, which they bought for $4 million in 2009. It was built in 1933.

Jimmy Goldsmith’s Gator Investments owns a number of multifamily and retail assets throughout the United States. Miami properties include retail buildings on Northeast 40th Street in the Design District where his wife owns the luxury home furnishing store Monica James & Co.

In 2016, Jimmy Goldsmith sold the store’s former location at 140 Northeast 40th Street for $10 million to a partnership led by David Edelstein. Goldsmith had paid $90,000 for the site in 1991, records show.

Beard’s Westdale Real Estate and Asset Management has also been bullish on the Miami market. In 2016, his company assembled at least 19 properties on the north end of Wynwood for a total of $16.4 million. In 2017, the Miami Planning and Zoning Appeals Board rejected its request to rezone the 3.42-acre site to allow for a 202-unit apartment complex called Westdale Wynwood.

North Bay Road is home to a number of celebrities and prominent real estate figures including Michael Stern, Dwyane Wade, Chris Bosh, Phil Collins and Barry Sternlicht.