Ocean Sotheby’s International Realty has acquired Key West’s Saltwater Real Estate.

Following the deal, Saltwater founders Matt Sheehan and Terry Sullivan and their team joined Ocean Sotheby’s and will operate under the Ocean Sotheby’s name. Meanwhile, Saltwater’s third principal member, Bobby Coe, and two agents affiliated with RE/MAX All Keys Real Estate and parent company, RE/MAX Advance Realty.

“This acquisition followed a thorough vetting process during which we confirmed that Terry Sullivan, Matt Sheehan and the Saltwater Real Estate team align perfectly with our company’s culture and values,” Ocean Sotheby’s Managing Broker Sebastian Del Negro said in an announcement. “We are excited that our partnership with Saltwater Real Estate will enable us to deliver exceptional service to clients and expand our market presence throughout the Key West area and Monroe County.” 

“I am thrilled to announce my official partnership with Ocean Sotheby’s International Realty in Key West,” Sheehan said. “Saltwater Real Estate’s alignment with this iconic global brand represents a perfect match — combining our local expertise with Sotheby’s extensive worldwide reach, marketing resources and network. While our commitment to providing dedicated service remains unchanged, this collaboration elevates our capabilities and opens new opportunities for our clients. Exciting times lie ahead.”