Felix S. Sabates Jr. and his wife, Carolyn, sold a four-bedroom, 4.5 bath at 768 Harbour Isles Ct. in North Palm Beach for $2.4 million to Michael J. Beyer and his wife, Cheryl, on Aug. 8.

The Sabates paid $2,750,623 for the 4,265 square foot home in May 2006. It was built in 2002 by WCI Communities.

Mr. Sabates is the chairman of the board at Trinity Yachts, Inc., a builder of luxury super yachts that measure more than 100 feet in length.

Mr. Sabates is also the owner of Top Sales Inc., a firm that represents manufacturers in the sale of toys, electronics and and novelty items. He's been involved in the world of sports as well, as an owner of a NASCAR team, a professional indoor soccer team and part owner of the now-defunct Charlotte Hornets of the National Basketball Association.

A native of Cuba, Mr. Sabates emigrated to the United States in 1959.

Home sales in North Palm Beach fell 24 percent in 2007. The median home sales price also dropped from $285,000 to $275,000 in 2007.

BlockShopper Metrics began tracking South Florida home sales in 2001.

Address: 768 Harbour Isle Court
Buyer(s): Michael J Beyer and Cheryl A Beyer
Seller(s): Felix S Sabates Jr and Carolyn P Sabates
Sale date: Aug. 8, 2007