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 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