Pinkberry franchisee David Beall closed on a Venetian Islands home in Miami Beach for $6 million, 28 percent off the original asking price.
Thomas and Patricia Kennedy sold the 5,641-square-foot house at 303 East Dilido Drive to Beall and his wife, Lauren, records show. Marlene Goldman of Beachfront Realty represented the sellers, while Michele Redlich of Coldwell Banker brought the buyer. Goldman declined to comment on the buyer.
Beal has the Pinkberry franchises in Miami and Atlanta for the frozen dessert restaurant chain, according to his LinkedIn profile.
The Di Lido Island house has five bedrooms, as well as a one-bedroom, one-bathroom guest suite, a dock and heated pool. It hit the market in December 2017 for $8.4 million, and was relisted the following year for $7.3 million, according to Realtor.com.
The waterfront home sits on a 10,500-square-foot lot and was built in 1936. It last sold in 2010 for $3.4 million.
More luxury homes in Miami Beach are selling for significant discounts as sellers adjust to the market. A residential-focused panel of top brokers at The Real Deal Miami’s Showcase & Forum last week said that unrealistic pricing is bogging down the luxury market.
“If you look at the market today, even though there has been an increase in prices, there is also an increase in days on the market,” said Oren Alexander of Douglas Elliman. “That has a lot to do with bad prices. We have to make sure sellers really understand where pricing is.”