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

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