The price cuts keep coming among Miami’s most expensive listings.
Last month, a two-story South Beach penthouse, which hit the market for $53 million in December of 2015, took a $5.5 million price cut. Despite the reduction, it remained the second most expensive listing in Miami Beach at $47.5 million.
Now, a Mediterranean-style mansion in Coral Gables has seen a $5 million reduction. At $44 million, it’s the third priciest listing in Miami overall, behind the South Beach duplex and the $55 million penthouse at the ultra-luxe Faena House.
Although these homes have seen reductions, others continue to hit the market with eye-popping price tags. This week, a sprawling estate on La Gorce Island came on the market at $39 million, making it the fourth priciest home for sale in Miami Beach.
So how do the city’s three costliest properties compare? We break it down.
THE STATS
1 Casuarina Concourse, Coral Gables ($44 Million)
Set on 2.1 acres in the exclusive Gables Estates, the three-story home has 20,862 square feet of living space. There are nine bedrooms, 10 full bathrooms and five partial baths. An adjacent lot is also available for purchase.
321 Ocean Drive, Penthouse 900 ($47.5 million)
Set in the exclusive South of Fifth enclave, the two-story penthouse spans the ninth 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
1 Casuarina Concourse
Unlike the two condos, the Coral Gables manse comes with 530 feet of water frontage with a dock. The home has an art gallery, a gym, a game room, and a wine cellar with room for about 1,500 bottles. Outside, there’s a koi pond, a swimming pool with a hot tub and outdoor entertaining areas with views of Biscayne Bay and the Atlantic Ocean.
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
1 Casuarina Concourse
The estate belongs to auto dealership magnate Alan Potamkin and his wife, Dr. Brigitt Rok Potamkin. The couple built the mansion in 2000. They originally listed it at $67 million in May of 2015, but the price included the adjacent 1.5-acre lot that can now be purchased separately.
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