One Thousand Museum developer sells Allison Island home
Covin paid $4M for the waterfront lot in 2018, built new home
UPDATED, Oct. 27, 3:50 p.m.: One Thousand Museum co-developer Gregg Covin sold a newly built waterfront Allison Island spec home for $12.5 million.
Covin’s 6493 AR Development LLC developed and sold the seven-bedroom, seven-bathroom house at 6493 Allison Road, according to the brokerages involved in the sale. The buyer is US PLO 224 LLC, managed by Laurent and Pascale Ouazana, property records show.
Laurent is the CEO of Entoria, the second-largest wholesale broker and 15th-largest overall broker in France, according to its website. The same LLC recently sold 224 Bal Bay Drive in Bal Harbour.
The Miami Beach property features a detached guest suite, three-car garage, 75 feet of water frontage, a pool and outdoor kitchen. Cyril Matz of Douglas Elliman and Compass agent Chad Carroll represented Covin, while Elliman’s Dina Goldentayer represented the buyers.
Goldentayer declined to comment on the buyers’ identity, but said the buyers were deciding between a condo and a house, and said they liked the privacy of Allison Island. The sale included furnishings from Artefacto.
The house hit the market in November for $13.9 million.
Property records show the Covin-led LLC paid $4.1 million for the waterfront lot in 2018.
Last month, spec homebuilder Todd Michael Glaser sold a waterfront spec mansion at 6650 Allison Road for $15.2 million.
Covin was a co-developer of the Zaha Hadid-designed One Thousand Museum along with Louis Birdman, Gilberto Bomeny, Kevin Venger and Glaser. The 62-story, 84-unit luxury condo tower in downtown Miami was completed last year. Buyers include soccer superstar David Beckham and Victoria Beckham.