Asking price for unsold “micro mansion” is now 41% below the original one in 2016

Frank McKinney built the 4,000-square-foot house in Ocean Ridge and has cut the asking price four times

Miami /
Jul.July 14, 2018 11:25 AM

19 Tropical Drive in Ocean Ridge (Credit: IBI Designs Photography)

For the fourth time in the last two years, mansion builder Frank McKinney cut the asking price for his unsold “micro mansion” in Ocean Ridge, this time to $2.295 million.

The new price is 41 percent below his original asking price of $3.9 million when he listed the house for sale in 2016.

McKinney expected the “micro mansion” to appeal to wealthy people who want a luxurious home but not a massive one.

The unsold 4,000-square-foot house is at 19 Tropical Drive in Ocean Ridge, an oceanfront community in southeast Palm Beach County.

The house, which is not on the ocean, is much smaller than the palatial oceanfront mansions that McKinney has built in Manalapan and Delray Beach.

The three-bedroom, four-bathroom house has unusual features including a “living reef” aquarium in a 210-gallon tank and sea-glass kitchen countertops that change colors.

Since listing the house for sale in May 2016 for $3.9 million, McKinney has cut his asking price to $3.45 million, $2.95 million, $2.65 million and now $2.295 million, which would equate to $573 per square foot. [Palm Beach Post]  Mike Seemuth


Related Articles

arrow_forward_ios
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...