Edward J. Fred bought a five-bedroom, four-bath home at 338 Edgewood Ave. in Smithtown from James J. Girardi for $695,000 on Aug. 21.

Girardi bought the property for $871,000 in Dec. 2003. The 3,859-square-foot house was built in 2000 in the neighborhood of Smithtown North.

Fred is the president and chief executive officer of CPI Aerostructures, a manufacturer of aircraft structures headquartered in Edgewood. He has been president since 2002 and was appointed CEO the following year.

Before he joined the company in 1995, he worked for 10 years at Grumman, where he became controller. In 2005, he was named an Ernst & Young Entrepreneur of the Year.

He received a B.B.A. in accounting from Dowling College in 1980 and an M.B.A. from Hofstra University in 2002.

According to BlockShopper.com, there were 131 home sales in Smithtown in 2008, with median sales price of $464,500.

Address: 338 Edgewood Avenue
Buyer(s): Edward Fred
Seller(s): James J Girardi
Sale date: Aug. 21, 2009