UPDATED, April 20, 2:10 p.m.: William McKinley Osborne, III, a former investment banker, bought a Tahiti Beach estate for $28.9 million, marking a record price in the ritzy enclave.
Osborne and Karen Hall Bechtel purchased the home at 4 Tahiti Beach Island Road in Coral Gables, according to a source. Property records show 4 Indian Creek LLC was the seller.
Osborne was a managing director at Morgan Stanley from 1980 to 1991, according to his Linkedin profile. He also founded McKinley Capital Partners and served as president from 1991 to 2001. He currently is the president of Miami-based Meals for Heroes LLC.
The seller’s entity is managed by Vladislava Finskaya. Documents show the Florida corporation was formerly run by Ilya Bykov, principal of a New York-based financial services company.
4 Indian Creek LLC bought the home in 2014 for $18 million, records show. It was built in 2009 on a secluded peninsula with its own private beach.
In 2015, the owner took out $11.4 million in financing for the estate and made renovations to the home throughout 2014 and 2015, including interior demolition, roof repairs and remodeling, according to records.
The 21,235-square-foot mansion on a 1.4-acre lot hit the market in 2017, asking $45 million. After many price changes, the most recent asking price was $36.5 million in October.
Chad Carroll and Brett Eaglstein of The Carroll Group at Compass represented the seller, while Constantin Gorges of the same brokerage represented the buyers.
The sale price marks a record for Tahiti Beach, according to Compass.
The mansion features 10 bedrooms and 10 bathrooms. Designed by architect Ramon Pacheco, the house has a theater, two kitchens, an elevator, a wine tasting room and a full fitness center.
Coral Gables has had its fair share of deals during the pandemic. Last year, Miami attorney Alex Hanna bought a waterfront property for $8.5 million, baseball player Yonder Alonso sold his home for $3 million, and Pharrell Williams bought an estate for $30 million.