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The Real Deal Miami

Biggest price cut of the day

February 07, 2011 05:00PM

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300 S. Pointe Drive, PH4001

The South Florida home to see the biggest price cut today is a five-bedroom, six-and-a-half-bathroom condominium, unit PH4001, at 300 S. Pointe Drive at the Portofino Tower in South Beach, according to data from Condo Vultures Realty. The $10.8 million Miami-Dade County home saw a $1 million, or 8 percent, price cut. It was originally listed for $11.8 million when it hit the market in August. The 4,300-square-foot, furnished triplex penthouse has more than 2,200 square feet of private terrace space and views of the Atlantic Ocean, Miami Beach, Fisher Island and Biscayne Bay. Michael Candito of Candito Realty has the listing, and is only accepting “serious cash buyers,” according to his 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