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Residential
South Florida

Gables Club developer Marc Kovens sells his penthouse

Buyer is former IBM Asia CEO Randy Walker

Randy Walker with 60 Edgewater Drive (ExCo Group, Brown Harris Stevens)
Randy Walker with 60 Edgewater Drive (ExCo Group, Brown Harris Stevens)

Marc Kovens, the developer of Gables Club, sold his penthouse for $7.3 million after nearly 20 years.

Records show Kovens sold penthouse unit TSE in Gables Club at 60 Edgewater Drive in Coral Gables to Randy and Hilal Walker. Randy Walker is the former CEO of IBM Asia, and joined the University of Miami Herbert School of Business as an executive-in-residence in February, according to an announcement from the college.

Allison Blumenthal with Brown Harris Stevens had the listing, and Ashley Cusack with Berkshire Hathaway HomeServices EWM Realty brought the buyer.

Kovens completed Gables Club, a waterfront, 16-story two-building condo complex, in 2003. Kovens also developed Boca Teeca in Boca Raton, as well as Bal Harbour Tower and Bal Harbour 101, in Bal Harbour.

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Records show Koven’s Gables Club penthouse had been deeded to him since construction was completed. In 2014, his then-wife Helene Kovens was removed from the deed. The couple filed for divorce in September 2020, and the divorce was finalized in July 2021, court documents show.

The 7,980-square-foot, four-bedroom, four-bathroom penthouse has a gym and a theater, according to records and the listing. Gables Club also offers a deep-water marina, tennis courts, a spa, restaurant, and private club house.

While the South Florida residential market has begun to slightly cool, Coral Gables condos have maintained strong demand.

A penthouse in Milano at Deering Bay sold for $2.7 million in July. Location Ventures finished its Villa Valencia condo development that same month, and was 95 percent sold, with more than $100 million in closed sales.

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CondosCoral GablesLuxury Real Estate