The Real Deal Miami

Biggest price cut of the day

January 24, 2011 05:11PM

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297 N. Hibiscus Drive

The South Florida home to see the biggest price cut today is a five-bedroom, five-and-two-half-bathroom house at 297 N. Hibiscus Drive on Hibiscus Island in South Beach, according to data from Condo Vultures Realty. The $7.9 million Miami-Dade County home saw a $2.1 million, or 21 percent, price cut. It was originally listed for $10 million when it hit the market in March. The 6,008-square-foot house sits on a 10,500-square-foot waterfront lot and has a pool. Roberta Ingletto of Ingletto Realty Group 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.) TRD