Greg Henning Of Par Real Estate Trust Acquires Land From Ilya Karpov For $72M In Miami Beach

2740 North Bay Road, located in Miami Beach, FL, is a land asset measuring 0.6 acres. The property recently sold for $72,000,000, translating to $7,200 per square foot, encompassing a newly built mansion of 10,000 square feet.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $72,000,000
• Acres: 0.6
• Square Feet: 10,000
• Price per Square Foot: $7,200
• Buyer: Greg Henning - Par Real Estate Trust
• Seller: Ilya Karpov - AI Global Investment LLC & OGO Development LLC
• Broker Representatives: Mirce Curkoski & Albert Justo - ONE Sotheby's International Realty
• Market: Miami Beach, FL

This sale involved Russian businessman Ilya Karpov, who previously acquired the property for $20.8 million in 2022. The transaction highlights the ongoing interest in high-end waterfront properties in the Miami Beach area, marking it as the most expensive North Bay Road home trade for the year.