Westdale CEO sells Miami Beach condo for $16M

Seller bought the unit for $7M in 2008

Miami /
Apr.April 16, 2021 03:30 PM
Joseph Beard and Apogee at 800 South Pointe Drive, Miami Beach (Google Maps)

Joseph Beard and Apogee at 800 South Pointe Drive, Miami Beach (Google Maps)

Joseph Beard, co-founder of Westdale, sold his unit at Apogee in Miami Beach for $15.5 million.

Records show Westdale Apogee LLC, led by Beard, sold unit 1904 at 800 South Pointe Drive to Howard C. Draft and Louis R. Malikow, as trustees of The Howard Craig Draft Living Trust.

Beard is president and CEO of Westdale Real Estate Investment and Management, a Dallas-based real estate company that specializes in acquiring, managing and developing multifamily, office, retail, mixed-use and debt pools, according to its website. Westdale manages 40,000 units in 13 states. Beard co-founded the company in 1991.

Westdale is active in South Florida, and recently paid $97 million for a multifamily project in West Miami.

Records show Beard sold a South Beach penthouse in 2018 for $8.7 million.

The buyer of the Apogee unit, Howard C. Draft, is executive chairman of Draftfcb, a global marketing communications company headquartered in New York, according to his LinkedIn. Draft is also a board member of exercise equipment and media company Peloton.

Records show Beard bought the 3,731-square-foot unit, through Westdale Prop America I LTD, for $7 million in 2008. He changed ownership to Westdale Apogee LLC in 2010.

He listed the Miami Beach condo in May of last year for nearly $17 million. The listing was removed in January and re-listed for the same price in February, according to Zillow. It sold for $3,852 per square foot.

Luis Gonell of Compass represented the seller, and Dora Puig with Luxe Living Realty represented the buyer.

Property records show the unit has four bedrooms and three-and-a-half bathrooms.

Related Group developed the 22-story condo Apogee in 2007. Recent deals at the condo tower include an apartment developer buying a condo for $7.5 million, and a JLL vice chairman spending $6.4 million for a unit.





    Related Articles

    arrow_forward_ios
    The Deauville Beach Resort at 6701 Collins Avenue (Google Maps, Office of the City Manager)
    Miami Beach orders historic oceanfront Deauville resort to be demolished
    Miami Beach orders historic oceanfront Deauville resort to be demolished
    (Illustration by Kevin Rebong for The Real Deal)
    “One non-stop boom”: After surge in home sales, inventory keeps shrinking in South Florida
    “One non-stop boom”: After surge in home sales, inventory keeps shrinking in South Florida
    From left: Alejandro Diaz Bazan, David Solomon, Brett Harris and Ana Bozovic (Andian Group, Brett Harris Homes, Miami Girls, iStock)
    Build it and they will come: Resi agents join the South Florida spec home development craze
    Build it and they will come: Resi agents join the South Florida spec home development craze
    From left: Sela Ward, David Beckham, Victoria Beckham, and Lucy Guo (Getty Images, 1000Museum.com)
    Here’s who bought — and sold — condos at One Thousand Museum in Miami
    Here’s who bought — and sold — condos at One Thousand Museum in Miami
    From left: Andres Isaias and Alejandro Diaz Bazan of Andian Group (Andian Group, Thamann Architecture + Design)
    Waterfront Sunset Islands home featured on “Miami Vice” sells for $14M
    Waterfront Sunset Islands home featured on “Miami Vice” sells for $14M
    554 Lakeview Dr, Miami Beach and Jarett Fein (Zillow, KV National)
    Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
    Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
    A photo illustration of Ocean House South Beach, 125 Ocean Drive (Condo.com, iStock)
    Ocean House South Beach closing tops weekly condo sales in Miami-Dade
    Ocean House South Beach closing tops weekly condo sales in Miami-Dade
    Château Beach Residences at 17475 Collins Avenue (ORENA)
    Medical mogul pays $13M for Château Beach condo in Sunny Isles
    Medical mogul pays $13M for Château Beach condo in Sunny Isles
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...