The Real Deal Miami

Biggest price cut of the day

October 13, 2009 05:21PM

alternate text5111 Pinetree Drive

The South Florida home to see the biggest price cut today is a nine-bedroom, eight-bathroom house at 5111 Pinetree Drive in Miami Beach, according to Condo Vultures Realty. The Dade County home is on the market for $9.8 million after a price reduction of $3.1 million or 24 percent, from the original asking price of $12.9 million when it hit the market in October 2008. This historic 1929 waterfront mansion has a gym and a deepwater dock. The 68,878-square-foot lot includes the home, a pool, and basketball and tennis courts. Mirce Curkoski of One Sotheby’s International Realty has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD