The Real Deal Miami

Biggest price cut of the day

October 04, 2010 05:30PM

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49 S. Hibiscus Drive

The South Florida home to see the biggest price cut today is an eight-bedroom, eight-bathroom house at 49 S. Hibiscus Drive in South Beach, according to data from Condo Vultures Realty. The $12.9 million Miami-Dade County home saw a $1.095 million, or 8 percent, price cut. It was originally listed for $13.995 million when it hit the market in June. The 8,000-square-foot, waterfront home was designed by architect Chad Oppenheim and sits on a 24,000-square-foot lot on gated Hibiscus Island. It has Kreon lighting, a Creston control system that controls electronics and an 82-foot pool on two sides of the house. Lourdes Alatriste of Engel & Voelkers 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.)