The Real Deal Miami

Biggest price cut of the day

October 20, 2010 04:45PM

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5869 Pinetree Drive

The South Florida home to see the biggest price cut today is an 11-bedroom, 11-bathroom estate at 5869 Pinetree Drive in Miami Beach, according to data from Condo Vultures Realty. The $7.95 million Miami-Dade County property saw a $1.25 million, or 14 percent, price cut. It was originally listed for $9.2 million when it hit the market in February. The estate consists of a six-bedroom, six-and-a-half-bathroom main house, a three-bedroom, three-bathroom guest apartment and a gate house and pool cabana with one bedroom and one bathroom, each. The 51,450-square-foot lot, which sits on the Intracoastal Waterway, also contains a five-car garage, tennis court, pool and dock. Jill Eber of Coldwell Banker 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.)