The Real Deal Miami

Aviation database exec sells Boca Raton waterfront home for $5.76M

The home hit the market last August for $6.25M
By Amanda Rabines | July 17, 2017 03:45PM

450 South Maya Palm Drive Inset: Joseph Liguori

UPDATED July 18, 3:30 p.m.: Husband and wife Robert Hammond and Laurie Hammond just sold their Boca Raton home for $5.76 million, property records show.

Robert Hammond is the CEO of PartsBase, a Boca Raton-based company that provides an international database of parts for aviation, defense and aerospace industries. Records show he bought the home in 2003 for $5.5 million with his wife.

The 6,954-square-foot waterfront home at 450 South Maya Palm Drive traded for about $829 per square foot. Records show Calvino Salvatore and Karen Salvatore bought the home, built in 2003, under a revocable trust in their names.

Joseph Liguori of Premier Estate Properties represented the sale, according to Redfin. Agent Marcy Javor of Signature International Premier Properties represented the buyers.

The home has been on and off the market since 2014, and was listed as much as $6.25 million in 2016, according to Redfin. It was reduced to $5.95 million in February, meaning it sold at a 3.1 percent discount.

The six-bedroom, seven-and-a-half bathroom home sits on 0.64 acres and includes about 90 square feet of Intracoastal frontage. It features marble and wood flooring, a three-car garage, French doors and an elevator. Outside, the house offers a private dock and a pool and spa, according to the listing.

The Boca Raton luxury single-family home market is taking a hit as the market slows down. Last year the demand for higher-end homes fell, skewing average prices, according to a fourth quarter Douglas Elliman report. Inventory took a 36.5 percent leap compared to a year earlier, up to 565 homes. Average sales prices fell by double digits, and discounts were up.

Last year Markku Ritaluoma’s waterfront Boca Raton home sold for $6.24 million or $855 per square foot. Around the same time, a nearby 14,570-square-foot newly built home at 2201 Spanish River Road sold for $6.8 million or $1,192 per square foot. The deal was also brokered by Liguori.

Correction: An earlier version of the article said the home hit the market in August for $6.25 million. It was listed in May 2014.