Builder with unsold “micro mansion” plans another

Frank McKinney is trying to sell a reduced-price, 4,087-square-foot luxury home in Ocean Ridge

TRD MIAMI /
May.May 14, 2017 10:15 AM

19 Tropical Drive in Ocean Ridge

Luxury home builder Frank McKinney hasn’t yet sold his reduced-price “micro mansion” in Ocean Ridge, but he’s already preparing to build a larger one farther north and priced near $20 million.

McKinney’s initial $3.9 million asking price has dropped to $3.43 million for the 4,087-square-foot house he built at 19 Tropical Drive in Ocean Ridge, an oceanfront community in southeast Palm Beach County.

He designed the three-bedroom, four-bathroom house to serve a segment of the new-home market seeking luxury on a less-than-mansion scale.

The fully furnished house is 325 feet from the Atlantic, so it doesn’t qualify as oceanfront property, but McKinney compensates with eye-opening features, including a living reef aquarium in a 210-gallon tank and sea-glass kitchen countertops that change colors.

McKinney told the Sun-Sentinel that his inability to sell the house sooner is “confounding,” and he called reports of deeply discounted luxury homes in South Florida “concerning.” But he remains confident that consumers are spending more freely as a “Trump Bump” propels the economy.

Indeed, he told the newspaper he expects to start construction by July 1 on a larger “micro mansion,” a 7,000-square-foot oceanfront home at 392 South Ocean Boulevard in South Palm Beach. [Sun-Sentinel] Mike Seemuth


Related Articles

arrow_forward_ios

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

PB Gardens condo community seeks yet another contractor to repair its buildings

Pompano upzones Ocean Boulevard site for 19-story condo next to city park

arrow_forward_ios