Bernard Spain and wife, Joan, sold their six-bedroom, eight bath at 5 Ocean Place in Highland Beach for $5.5 million to Richard and Karen Shusterman on June 13.

The Spains paid $6,358,698 for the 7,279 square foot house in Jan. 2002. It is one of eleven properties in the Ocean Place Estates.

Mr. Spain is the co-founder of the Spain's Card and Gift and Dollar Express stores. He and his brother, Bernard, opened their first Dollar Express store in the 1980s. They sold their company to Dollar Tree for $500 million in 2000.

The brothers were two of the first people to mass market the "smiley face." They also started several housewares and athletics store chains.

Mr. Spain earned a degree in accounting from the Fox School of Business at Temple University in 1965.

Home sales in Highland Place dropped 6.4 percent in 2008 versus 2007. The median sales price also dropped 24 percent to $432,000 from $568,000.

Address: 5 S. Ocean Boulevard
Buyer(s): Richard Shusterman and Karen Shusterman
Seller(s): Bernard Spain and Joan Spain
Sale date: Jun. 13, 2008