Billionaire developer Don Soffer has put his Palm Beach, Florida, mansion back to the market for $9.9 million.
Although the price tag remains the same as last year’s listing, it represents a 36% discount, or $5.6 million less than the original ask of $15.5 million in 2013, according to the listing history on Realtor.
The listing has been lingering on the market despite several price reductions, first to $13.5 million in March 2015, later to $12.95 million in November 2015, and then to $11.495 million in March 2016.
Mr. Soffer, 85, best known for developing 785 acres of swamp and marshland north of Miami into a suburban city Aventura (Spanish for “adventure”), purchased the 2.09-acre property for $1.1 million in 2004 and had a mansion custom built in 2010, according to property records.
Mr. Soffer and his family has an estimated net worth of $4.2 billion, according to Forbes. He couldn’t immediately be reached for comment.
The two-story, Spanish Eclectic-style mansion encompasses 13,523 square feet of living space, including six bedrooms, 10 full bathrooms, formal living and dining rooms and a breakfast area adjacent to the kitchen, according to the listing, posted earlier this week.
Design details exhibited throughout the home include open-wood beam ceilings, marble and stone floors, granite and marble countertops, iron balustrades, stone fountains, columns and fireplaces and Tiffany glass dome ceiling.
Outdoors, there’s a full-size tennis court, a pool, spa and cabana, a game room with billiards and bar, multiple balconies and loggias.
Situated in Old Palm Golf Club, a private, gated golf club community, the home enjoys lake and double-fairway views and is within walking distance of the Raymond Floyd designed-golf course, clubhouse and other amenities.
The estate also boasts some celebrity neighbors, including U.S. Secretary of Housing and Urban Development Ben Carson, who has a $4.4-million house down the road.
Connie McGinnis, director of sales at Old Palm Real Estate has the listing. He didn’t respond to requests for comment in time for publication.
(Realtor contributed to this story.)
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