$72M North Bay Road Sale Sets Miami Beach 2026 High

A waterfront mansion at 2740 North Bay Road on Miami Beach has sold for $72 million in an off-market deal, the highest price for a single-family home on the street this year and the largest Miami Beach waterfront trade AmDev has tracked in 2026. Entities tied to Ilya Karpov were the seller. Mirce Curkoski and Albert Justo of One Sotheby’s International Realty’s Waterfront Team brokered the deal, and a trust managed by Greg Henning is the reported buyer.

Why it matters

For agents working Miami Beach’s barrier islands, $72 million on North Bay Road resets the top comp for new construction on the strip, and it did so entirely off-market, meaning there was no listing, no public marketing campaign and no price discovery for other brokers to watch in real time. That is increasingly the pattern at the very top of this market: sellers and buyers negotiate directly, and the rest of the industry finds out only after the deed work is done. The newly built, two-story house has about 10,000 square feet with seven bedrooms and seven bathrooms, a scale that signals the buyer paid for a finished trophy asset, not a teardown play.

The numbers

Karpov-tied entities assembled the North Bay Road site in 2022, according to sale-history data compiled by deal trackers and real estate listing sites, at a reported price in the roughly $20 million range for the land, before building the current house from the ground up. Because that basis does not include construction cost, it does not translate into a clean profit figure, but the $72 million exit on a reported ~10,000-square-foot house works out to roughly $7,200 per square foot, well above the $5,659 per square foot AmDev calculated on the Hibiscus Island estate that traded for $51.5 million just two days earlier, and above the $3,978 per square foot recorded on Bal Harbour’s 56 Bal Bay Drive in late July. That is three Miami Beach-area waterfront comps in a month, each pricing higher per foot than the last.

What’s next

Watch whether the deed for 2740 North Bay Road posts to Miami-Dade’s official county record with a matching price, which would convert broker-reported numbers into a confirmed public instrument, and watch whether other sellers on North Bay Road and the barrier islands test the market at this new per-square-foot ceiling. For agents pricing new construction on South Florida’s waterfront corridors, the trend across three separate trades in a month points the same direction: up.