Richard A. Swartz and his wife, Wendy, sold their five-bedroom, four bath at 5270 NW 37th Street in Boca Raton for $3.55 million to Lisa and Laurence Benedict on Jan. 17.

Mr. Swartz paid $1.5 million for the property in Oct. 1999.

The 6,800 square foot home was built in 1988.

Mr. Swartz is a principal with real estate development company Homedevco in Delray Beach. In the past, he served as vice president of acquisitions and manager of Consolidated Capital's eastern regional office.

He was also executive vice president of Krupp Companies, a Boston-based real estate company.

He started his career as an architect with a self-owned architectural firm specializing in single-family homes, multi-family complexes and retail centers in the Northeast.

Home sales in Boca Raton dropped 26 percent in 2007. The median price also slipped $31,000 from $450,000 to $419,000.

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

Address: 5270 Northwest 37th Street
Buyer(s): Lisa M Benedict and Laurence R Benedict
Seller(s): Richard A Swartz and Wendy Swartz
Sale date: Jan. 17, 2008