A newly constructed waterfront mansion at 2740 North Bay Road in Miami Beach has sold for $72 million, marking the most expensive home sale on the exclusive corridor so far this year. LLCs tied to former grain executive Ilya Karpov sold the nearly 10,000-square-foot, seven-bedroom, seven-bathroom house to a trust managed by Greg Henning, according to property records.
The sale was first reported by The Real Deal, whose reporter Katherine Kallergis noted that the property appraiser does not list the finished home’s final specifications. The off-market deal was brokered by Mirce Curkoski and Albert Justo of the Waterfront Team at One Sotheby’s International Realty, and the identity of the ultimate buyer behind the purchasing trust remains undisclosed, a common arrangement in Miami Beach’s trophy home market.
From Historic Teardown to Spec Mansion
The 0.6-acre lot has a layered history. City records show the site once held a 1929 single-family home that Miami Beach individually designated as historic in May 2010, only for the city’s Historic Preservation Board to approve its complete demolition in 2018. That demolition was carried out in March 2021, clearing the way for new construction on the roughly 26,152-square-foot parcel.
The property was purchased in 2004 for $4 million by late French billionaire hotel developer Claude Dray, who also owned Miami Beach’s National Hotel. After Dray was fatally shot in Paris in 2011, the estate passed to his widow, Simone Dray, and was later sold by their daughter, Delphine Dray, for $6.4 million in December 2021. Karpov acquired the property from Delphine Dray shortly after, paying $20.8 million for the 0.6-acre lot in 2022, then building the new two-story mansion, designed under approved plans from Koda Architecture + Interior Design, that ultimately fetched more than triple that price.
A Grain Fortune Turned Real Estate Empire
Karpov built his wealth as a former general director at OGO Group, once one of Russia’s largest grain producers, before selling his stake in 2009 and moving to Miami Beach the same year. Since then he has become one of the area’s more active spec developers, buying adjacent lots at 310 and 320 South Hibiscus Drive for $11.6 million in 2018 and splitting the parcel to build spec mansions. He sold 320 South Hibiscus Drive for $29.1 million in May 2022 to mobile gaming CEO Kevin Segalla, and previously sold a waterfront spec house at 38 South Hibiscus Drive for $14.2 million in 2019…