Miami star architect Kobi Karp and his wife Nancy paid $8.5 million to buy another waterfront home on Miami Beach’s North Bay Road.
The couple bought a 6,574-square-foot house at 4750 North Bay Road for $1,292 per square foot, records show. The seller is tied to Romita Shetty, a principal with New York-based DA Capital, which focuses on structured credit and private investments.
The couple previously bought a home at 5328 North Bay Road for $6.55 million in February 2016, records show.
It is unclear what the Karps plan to do with their latest purchase.
The bayfront house has six bedrooms and six bathrooms. It was built in 1932 and sits on a 20,000-square-foot lot. It was last purchased for $10.5 million in 2014, records show.
Dora Puig of Luxe Living Realty represented the buyer and the seller in the transaction.
Kobi Karp leads Kobi Karp Architecture & Interior Design and has designed many high-profile buildings in the Miami area. Karp’s projects include the luxury condo developments Palazzo Del Sol and Palazzo Della Luna in Fisher Island, Four Seasons Hotel & Residences at the Surf Club in Surfside, and the 1 Hotel & Homes in Miami Beach.
In addition to their homes on North Bay Road, Karp and his wife also own properties on Allison Island and Sunset Island III in Miami Beach, records show. A new home is under construction on the Sunset Island site, Nancy Karp said.
Other high-profile homeowners on North Bay Road include JDS Development’s Michael Stern, singer-songwriter Phil Collins, and basketball stars Chris Bosh and Dwyane Wade.
Yext founder and CEO Howard Lerman paid $17 million in February for a 10,665-square-foot spec mansion at 6010 North Bay Road.