The Real Deal Miami

Tahiti Beach manse in Coral Gables lands $11M loan

Loan provides financing for renovations
By Sean Stewart-Muniz | July 06, 2015 05:30PM

The estate at 4 Tahiti Beach Island Road

The owner of a Tahiti Beach mansion in Coral Gables has taken out $11.4 million in financing for their sprawling estate.

A company titled 4 Indian Creek paid $15 million for the 1.8-acre property four years ago.

After holding onto 4 Indian Creek Island Road for roughly three years, the company sold it for a tidy $6.6 million profit. With proceeds in tow, the owner made a move to Coral Gables with the $18 million purchase of the mansion at 4 Tahiti Beach Island Road.

The estate, with its Tuscan architecture and waterfront views, measures 21,235 square feet and was built in 2009. Its 1.5-acre lot also features a rare amenity in the Gables — a small white sand beach. It was originally listed in 2013 for $30 million by Jill Eber of Coldwell Banker, but Saddy Delgado of One Sotheby’s International Realty closed the sale. Irina Artemova of Luxe Living Realty brought the buyer.

A few months after signing the deed, a notice of commencement for interior demolition was filed with the county, records show. In late February, remodeling work began. The company now has taken out the $11.4 million in financing from Goldman Sachs Bank USA to finance the renovation.

4 Indian Creek is headed by Ilya Bykov, principal of a New York-based financial services company that caters to international clients. Bykov could not immediately be reached for comment on Monday.

However, earlier documents show that Vladislava Finskaya was listed as the company’s manager. Finskaya also manages Linsdorf LLC, and she sold an apartment in New York late last year for $18 million.

The home next door at 5 Tahiti Beach Island Road is owned by basketball star Ray Allen, who helped the Miami Heat secure a championship ring in 2013.