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The Real Deal Miami

Biggest price cut of the day

September 23, 2010 05:00PM

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142 Palm Avenue

The South Florida home to see the biggest price cut today is a seven-bedroom, six-bathroom house at 142 Palm Avenue on Miami Beach’s Palm Island, according to data from Condo Vultures Realty. The historic, $9.875 million Miami-Dade County home, which is known as the Budweiser estate, saw a $2.125 million, or 18 percent, price cut. It was originally listed for $12 million when it hit the market in July. The 7,455-square-foot, waterfront home sits on a 30,000-square-foot lot and has stained glass windows, guest and cabana houses, a keystone pool and a rose garden. Nora Walz 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.)