The Real Deal Miami

Biggest price cut of the day

April 19, 2010 05:26PM

alternate text5750 Riviera Drive

The South Florida home to see the biggest price cut today is a six-bedroom, seven-bathroom house at 5750 Riviera Drive in Coral Gables, according to data from Condo Vultures Realty. The $3.46 million Miami-Dade County home saw a $1.515 million, or 30 percent, price cut off its last asking price of $4.975 million. It was originally listed for $5.39 million when it hit the market in July 2008 before the last price cut in March 2009. The waterfront home, which sits on an 18,175-square-foot lot, is a short sale listing by Teresita Bernace of Shelton and Stewart Realtors. It has water views, high and coffered ceilings, a wine cellar, library, media room and staff quarters. (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