search

The Real Deal Logo

Trending

Bushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsSpec developer sells waterfront Bay Harbor Islands mansion for record $22MSpec developer sells waterfront Bay Harbor Islands mansion for record $22MLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Residential
South Florida

Russian mogul Ilya Karpov buys waterfront North Bay Road home for $14M

Deal marks Karpov’s second purchase on North Bay Road this year

Ilya Karpov with 3026 North Bay Road
Ilya Karpov with 3026 North Bay Road (linkedIn, Zillow)

A Russian real estate mogul and spec home builder bought a waterfront Miami Beach home for $13.6 million.

Property records show Dana Reiner Blumberg sold the house at 3026 North Bay Road to 3026 NBR LLC, a Florida entity managed by Ilya Karpov. Karpov is the former general director of OGO, one of Russia’s largest grain producers.

Dina Goldentayer of Douglas Elliman represented both sides of the deal.

The 6,401-square-foot, six-bedroom, five-bathroom home sits on nearly a half acre. It was built in 1940 with small additions and updates in later years, according to property records and Realtor.com.

Sign Up for the undefined Newsletter

Blumberg bought the home with her late husband, Colorado businessman John Blumberg, in 2015 for $7.8 million.

Read more

Karpov has been an active player on the Miami real estate scene since leaving his position with OGO, making a name as a spec home builder. Earlier this year, he bought a waterfront North Bay Road lot for $21 million where a historic home had been torn down.

He also sold a spec mansion on Hibiscus Island for $29 million in May, on a lot he had previously hoped to split. Karpov sold another Hibiscus Island spec home for $14.2 million in late 2019.

Waterfront North Bay Road property is a hot commodity in the already scorching Miami Beach market. In recent months, billionaire hedge funder Dan Loeb doubled his money, flipping a waterfront North Bay Road teardown for $24 million. Cryptocurrency CEO Ivan Soto-Wright bought a waterfront home on the bayfront street for roughly $38 million that was once owned by former Miami Heat star Chris Bosh. And Todd Michael Glaser and his wife Kim flipped a waterfront North Bay Road home formerly belonging to Billy Joel for $6.8 million.

Tags
Luxury Real EstateMiami BeachNorth Bay RoadWaterfront Properties