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Waterfront Davis Islands home sold for $6.2 million

A waterfront home on Davis Islands that hit the market nearly two years ago has been sold for $6.2 million.

A buyer closed on the 7,289-square-foot home at 88 Martinique Ave. on Friday. It is the second highest priced home to sell in Hillsborough County this year; the top sales price was the Casper family’s $9.5 million acquisition of the Stovall-Lee estate on Bayshore Boulevard.

Julie Mullen Lux, an agent with Smith & Associates Real Estate in Tampa, was the listing agent on the property. Jennifer Zales of Coldwell Banker Residential Real Estate in Tampa represented the buyer, whom she declined to disclose.

“The southernmost section of Martinique Ave. is the most unique of all of the Davis Islands waterfront with its wide open long views,” Lux said in a statement. “Only a few original homes remain on this most sought after street.”

The sellers were Fred and Vivian Price of Cranbury, New Jersey, according to property records. They paid $2.8 million for it in 2001, the year it was built, purchasing it from Donald C. Hughes, a general contractor and developer who specializes in waterfront custom homes.

In a major 2007 renovation, the entire understructure was redesigned and reinforced, and the pool was repositioned and the landscaping was redone. A pool cabana with a bathroom and bar, an outdoor kitchen and wine cellar were added, and the master bedroom and closet were enlarged.

The home has five bedrooms, six bathrooms and a three-car garage. It features a gym, billiard room and theater room.

“The Tampa Bay luxury market is doing very well. It takes the right combination of price, location, condition and marketing exposure,” Zales said in a statement. “Competitively priced homes can often sell at or above asking price.”

By Ashley Gurbal Kritzer – Senior Reporter, Tampa Bay Business Journal