Carlos Ferrer and Rosemary Ferrer bought a three-bedroom, three-bath home at 161 Clarke Ave. in Palm Beach from Mary T. Harrison and Nancy Harrison for $4.25 million on Nov. 29.

The 3,399-square-foot house, which was built in 1968, is in Palm Beach North. It is located in Prima Vera Estates subdivision.

Carlos Ferrer is the founder and managing member at Ferrer Freeman & Company LLC, a health care private equity capital infusion company. Aside from that, he is also a member of the board of directors at Xcel Pharmaceuticals, Ardent Health Services, and the Cancer Research Institute.

He received a bachelor's degree from Princeton University.

According to BlockShopper.com, there have been 368 home sales in Palm Beach during the past 12 months, with a median sales price of $725,000.

Address: 161 Clarke Avenue
Buyer(s): Rosemary Ferrer and Carlos Ferrer
Seller(s): Nancy Harrison and Mary T Harrison
Sale date: Nov. 29, 2011