Richard Polidori and his wife, Phyni, bought a five-bedroom, five bath at 510 E. Alexander Palm Rd. in Boca Raton for $3 million from Jane Bennett on Dec. 28.

The 5,593 square foot home was listed for $3.375 million.

Mr. Polidori is the owner and founder of Lanmar Aviation, a helicopter and private charter jet company based at the Groton-New London Airport in Groton, Conn. He founded the company in 1985 as a helicopter charter operation for local ABC and NBC new affiliates before expanding the company to a 25,000 full service base operation at its current location.

Home sales in Boca Raton dropped more than 26 percent in 2007. The median sales price also dropped $31,000 last year, from $450,000 in 2006 to $419,000 in 2007.

BlockShopper Metrics began keeping track of home sales in South Florida in 2001.

Address: 510 E. Alexander Palm Road
Buyer(s): Richard Polidori (Trustee) and Phnyi (Revocable Trust)
Seller(s): Jane R Bennett (Individually and as Trustee) and Jane R Bennett 2004 Trust
Sale date: Dec. 28, 2007