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The Real Deal Miami

Biggest price cut of the day

September 10, 2010 05:30PM

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PH1 in the Portofino Tower

The South Florida home to see the biggest price cut today is a four-bedroom, six-bathroom condo, PH1, in the Portofino Tower at 300 S. Pointe Drive in Miami Beach, according to data from Condo Vultures Realty. The $12.5 million Miami-Dade County home saw a $1 million, or 7 percent, price cut. It was originally listed for $13.5 million when it hit the market in July. The 5,680-square-foot home has rooftop access, panoramic views of the Atlantic Ocean and the Downtown Miami Skyline, electric blinds, custom closets and an outdoor theater. William Pierce of Coldwell Banker Residential Real Estate 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.)