The Real Deal Miami

Tech executive buys waterfront West Palm Beach home for $5M

Seller led shoe giant Interco, which owned brands that included Converse and Florsheim
By Katherine Kallergis | April 18, 2016 10:30AM

3240 North Flagler Drive in West Palm Beach

3240 North Flagler Drive in West Palm Beach

Casey Cowell, co-founder of U.S. Robotics Corp., picked up a new home in West Palm Beach for $5 million.

Linda Saligman of St. Louis, Missouri sold the 7,524-square-foot home at 3240 North Flagler Drive, records show. Saligman owned the waterfront property with her late husband, Harvey Saligman, who led the shoe giant Interco before it filed for bankruptcy. The conglomerate owned brands that included Florsheim, Converse, London Fog and Ethan Allen furniture.

Property records show the Saligmans paid about $4.4 million for the five-bedroom, six-and-a-half-bathroom home in 2007 when it was completed. It hit the market in December for $5.45 million and closed on April 8, according to Redfin. Per square foot, this most recent sale breaks down to $665. A mortgage was not recorded.

Christian Angle of Christian Angle Real Estate represented the seller, while Sabra Kirpatrick of Brown Harris Stevens of Palm Beach brought the buyer. The 0.4-acre property is on the Intracoastal and includes a pool, patio and deep water dock. The West Palm Beach home features an elevator, fireplace, generator, chef’s kitchen, upstairs living area and morning bars.

The new owner, Cowell, is chairman and principal owner of technology company Durandal. He co-founded the modem maker U.S. Robotics in 1976 and was with the company until 1996, according to Bloomberg. Cowell sold his Palm Beach estate at 146 Gulfstream Road for $6.75 million in 2007, property records show. He still owns the mansion at 150 Clarke Avenue, also in Palm Beach. Cowell paid $6.25 million for that estate in 2004.