It’s been a week of price cuts for luxury homes from coast to coast.
In San Francisco, a Pacific Heights mansion is no longer the city’s most expensive listing, thanks to a $3 million price reduction.
Now, a Miami Beach penthouse, which hit the market for $53 million in December of 2015, has taken a $5.5 million cut.
The now-$47.5 million residence, which sits atop the boutique condominium 321 Ocean, is still the city’s second most expensive listing, after the $55 million behemoth at the ultra-luxe Faena House.
What can upwards of $47 million buy you in Miami Beach? Here’s a look at how the city’s two priciest listings compare.
THE STATS
321 Ocean Drive, Penthouse 900 ($47.5 million)
Set in the exclusive South of Fifth enclave, the two-story penthouse spans the 9th and 10th floors of this boutique building. With 6,807 square feet of interior space, the home has four bedrooms, five full bathrooms and two partial baths.
3315 Collins Avenue, Penthouse ($55 million)
Perched atop Faena House, the full-floor penthouse has 8,273 square feet of living space, which includes five bedrooms, five full bathrooms and one partial bath. There’s also a 7,299-square-foot terrace that wraps around the entire residence.
AMENITIES
321 Ocean Drive
The penthouse has its own rooftop terrace with a bar and a 36-foot-long infinity-edge swimming pool. Inside, floor-to-ceiling windows offer striking views of South Beach and the Atlantic Ocean. There’s also a media room.
3315 Collins Avenue
A private elevator ascends to a rooftop terrace, which features an outdoor kitchen, a Jacuzzi and a 71-foot-long infinity-edge swimming pool.
PRESTIGE
321 Ocean Drive
The residence belongs to financier Boris Jordan and his wife, Elizabeth Jordan, a philanthropist and photographer. The couple listed the property for $53 million just six months after they purchased it for $20 million, according to The Wall Street Journal.
3315 Collins Avenue
The penthouse was custom-designed for hedge-fund billionaire Kenneth Griffin, who’s also selling a half-floor unit directly below it for $18 million. Mr. Griffin purchased both residences for a total of $60 million in the fall of 2015.
Write to Gina Faridniya at gina.faridniya@dowjones.com