Lenny Kravitz sells home after price cut

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Lenny Kravitz has sold his home on Biscayne Point Island in Miami Beach for $2.45 million. The 5,700-square-foot, three-bedroom home, which spent about three months on the market, was originally listed for $2.85 million. Kravitz bought the home in 1997 for $725,000. Kravitz is one of a number of celebrities who have had to cut prices on their South Florida homes: New York Yankee Alex Rodriguez and basketball star Shaquille O’Neal are among other recent price choppers.