Lorne Abony bought a four-bedroom, 6.5-bath home at 695 S. County Road in Palm Beach for $3.5 million from Cement Pond Holdings, LLC, on Dec. 30.

Cement Pond Holdings, LLC, paid $7.8 million for the property in April 2006. The 6,426-square-foot home was built in 1953.

Abony is the chairman and CEO of Fluid Music, Inc., the world's largest private label music aggregation and distribution company.

He previously served as chief executive officer at FUN Technologies, Inc. and was the co-founder and former president of Petopia.com.

Abony completed his B.A. in philosophy at McGill University and earned his M.B.A. from Columbia University. He also received LL.B./J.D. from the University of Windsor.

There were 295 sales in Palm Beach in 2008, with a median price of $1.13 million.

Address: 695 S. County Road
Buyer(s): Lorne Abony
Seller(s): Cement Pond Holdings Llc
Sale date: Dec. 30, 2008