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The Real Deal Miami

Biggest price cut of the day

February 16, 2011 05:11PM

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166 Palm Avenue

The South Florida home to see the biggest price cut today is a seven-bedroom, seven-bathroom house at 166 Palm Avenue on Miami Beach’s Palm Island, according to data from Condo Vultures Realty. The $19.6 million Miami-Dade County home saw a $4.4 million, or 18 percent, price cut. It was originally listed for $24 million when it hit the market in June. The 13,500-square-foot, waterfront home sits on a 60,000-square foot estate, which includes a pool, cabana, gardens, and fountains. Ricardo Cruz of La Playa Properties 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