Dingle paid $825,000 for the property, which is located in the Royal Palm Yacht and Country Club Subdivision, in Feb. 2005. The 6,566 square foot house was built in 2006.
The property developer, SRD Building Corp., listed the home for as high as $3.475 million.
Guarini is the co-owner of Boynton Beach-based Green Park Management, the construction and management company for Hampton Inn hotels in South Florida.
He graduated in 1994 from Lynn University College of Arts and Sciences in Boca Raton.
Dingle, co-founder of SRD Building Corp., runs the Boca Raton-based real estate firm with his brother, Scott Dingle.
Home sales in Boca Raton dropped 26 percent in 2007 compared to sales for 2006. Median sales price fell seven percent from $450,000 to $419,000.
BlockShopper Metrics began tracking home sales in South Florida in 2001.
Address: 263 Princess Palm Road
Buyer(s): Steven R Dingle
Seller(s): William R George and Lynda D George
Sale date: Feb. 1, 2005