Canadian TV personality Michael Wekerle sold his Fort Lauderdale waterfront estate for $ 16.5 million to the head of Beowulf Energy.
The Wekerle Family 2011 Trust sold the 9,151 square foot mansion at 1000 Riviera Isle Drive to Paul B. Prager, administrator of the Prager Manga Reva Revocable Trust, according to property records.
The Fort Lauderdale property went on the market last year for $ 20 million. It has eight bedrooms, nine full baths, and two half baths.
Prager is the founder, president and CEO of Beowulf, a New York-based infrastructure holding company that develops, builds, owns and operates power generation and industrial infrastructure facilities around the world, according to his site. Web.
Prager financed the purchase with an $ 11.6 million loan from Bank of America, according to records.
Wekerle is an investor on “Dragon’s Den”, a Canadian version of “Shark Tank”. In 2012, he co-founded Toronto-based investment firm Difference Capital, which merged with Mogo Finance Technology in 2019.
He bought the house in 2014 for $ 12.5 million, according to records. He then listed it at $ 19.3 million in October and raised the asking price to $ 20.3 million in February. Ruchel Coetzee of Douglas Elliman negotiated the deal.
According to the original listing, his art collection, which he valued at between $ 2.5 million and $ 3 million, was also for sale.
The house was built by the former chairman and CEO of the Anheuser-Busch brewing company, Adolphus Busch III, in the 1930s. According to the Wall Street Journal, some of the original features, like the stone columns and the decorative tiles, are still intact, although Wekerle has carried out some renovations.
Records show Wekerle re-roofed the house and converted a garage into several bedrooms. The property also has a swimming pool and 520 feet of deep water frontage.
Recent closures in Fort Lauderdale include the $ 6 million sale of a three-story vacation home that the two mortgage bank co-founders sold; and author and social media influencer, Patrick Bet-David bought a waterfront mansion for $ 20.4 million.