Venture Capital

Biotech Venture Capitalist Spends $18M On Key Biscayne PH

Read more at therealdeal.com

Christoph Westphal and Oceana Key Biscayne (Google Maps)

A biotech entrepreneur and his wife spent $18 million on a waterfront penthouse at Oceana Key Biscayne.

Oceanakb LLC bought unit PH1S at 360 Ocean Drive in Key Biscayne from Vali Key LLC, managed by Domingo A. Amaro and Maria E. Chacon de Amaro, according to records.

The buying entity is led by Dr. Christoph and Sylvia Westphal. Christoph Westphal is the co-founder and general partner of the Boston-based venture capital firm Longwood Fund, which invests in healthcare companies. He has been co-founder, CEO and lead investor of six biotechnology companies that have gone public, according to Longwood’s website.

According to Sylvia Westphal’s personal website, she has been a scientist, science writer and a co-owner of a company that organized networking conferences for biotech CEOs. She and her husband sold that company in 2015. She also states that she does residential interior design.

Records show the sellers had purchased the condo from the developer for $17 million in 2014, the same year Oceana Key Biscayne was completed.

It was listed for $24.9 million in 2018. The most recent asking price was $21.9 million in June. Lourdes Alatriste of Douglas Elliman represented the seller, and Claudine Coto of One Sotheby’s International Realty represented the buyer.

The five-bedroom condo sold for $2,270 per square foot after 302 days on the market, according to condo.com.

The two-story penthouse has a private elevator entry, an infinity pool and terraces that overlook the ocean, according to the listing.

This month in Key Biscayne, a Venezuelan oil magnate sold his waterfront mansion for $17 million.

Read more at therealdeal.com

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