The Real Deal Miami

Kobi Karp buys waterfront North Bay Road home: $6.55M

Canadian hedge funder sold the 12,600 sf lot

February 11, 2016 11:15AM
By Katherine Kallergis

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5328 North Bay Road (Inset: Kobi and Nancy Karp)

5328 North Bay Road (Inset: Kobi and Nancy Karp)

Architect and interior designer Kobi Karp and Nancy Karp picked up a circa-1935 home on Miami Beach’s North Bay Road, county records show.

The Karps paid $6.55 million for the waterfront property at 5328 North Bay Road. Mike Macbain and Marcia McIntyre of Canada sold the nearly 5,400-square-foot home. Mike Macbain is a founding partner and chief information officer of East Coast Fund Management Inc., an Ontario-based hedge fund manager. McIntyre is the firm’s head of marketing.

The six-bedroom, six-bathroom property sits on a 12,641-square-foot lot. Property records show it last sold for $5 million in 2011. It was listed for sale at about $7 million in 2014. Coldwell Banker’s Danny Hertzberg was the listing agent.

The Karps have been very active in Miami and Miami Beach on both the residential and commercial side. Kobi Karp is designing a Collins Park redevelopment of Postwar modern and Art Deco properties in South Beach. The Chetrit Group is the developer. In November, a waterfront Sunset Islands mansion he designed hit the market for $26 million.

A mortgage was not recorded as part of the North Bay Road deal.

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