Russell Robbat bought a four-bedroom, 3.5 bath at 1040 Grand Bahama Lane in Riviera Beach's Palm Beach Isles community from Roberto N. Forte for $1.7 million on Dec. 31.

Mr. Forte paid $925,000 for the 3,984 square foot house, which was built in 1976, in Oct. 2002.

The home was listed as high as $2.199 million.

Mr. Robbat owned The Palace, a legendary nightclub north of Boston in Saugus, Mass., that opened in 1982 and closed in 2006. The nightclub's 22 acres was sold to home improvement giant, Lowes. Rabbat is one of the four founding members of Saugus Business Partnership, created in 2003 for the promotion of local businesses.

Rabbat, whose pioneering career started in high school, spent more than 35 years setting standards in the nightclub scene starting with the Beatles-themed bar in Somerville. He's also run several nightclubs in Florida.

Home sales in Riviera Beach dropped 33 percent through Dec. 15, 2007 versus the same period in 2006. Median sales price went up though from $218,000 to $250,000.

BlockShopper Metrics began tracking home sales in South Florida in 2001.

Address: 1040 Grand Bahama Lane
Buyer(s): Russell Robbat
Seller(s): Roberto N Forte
Sale date: Dec. 31, 2007