John Dowd III and his wife, Carla, bought a four-bedroom, four bath at 1214 N. Atlantic Dr. in Lantana for $1,787,500 from Judith Storm on April 1.

The 3,900 square foot home was listed for $1.999 million. It was built in 1993.

Mr. Dowd is the senior vice president of development for The Goodman Company, a West Palm Beach-based real estate development and investment firm specializing in retail commercial development. He's worked for the company for eight years and currently oversees all facets of the company's development program throughout the Southeast and in Florida.

A resident of Florida since 1984, he started his real estate career in Denver, Colo. He earned his bachelor's degree from Colorado State University.

Home sales in Lantana dropped 66 percent in 2007. The median sales price also dropped $67,000 last year, from $271,000 in 2006 to $204,000 in 2007.

Address: 1214 North Atlantic Drive
Buyer(s): John Dowd III and Carla Dowd
Seller(s): Judith A Storm (Individually and as Trustee)
Sale date: Apr. 1, 2008