Even the wealthy sometimes have to drop their price.
Despite a spectacular wrap-around waterfront location in Gables Estates and amenities including nine bedrooms, 10 baths, tennis court and dock for a 130-foot yacht, the 21,000-square-foot home owned by Alan Potamkin listed for sale in May 2015 hasn’t sold. So Potamkin and his Realtors, The Jills, have dropped the price — to $47.5 million.
The home and an adjacent lot, measuring a total 3.6 acres, originally were listed at $67 million. Several buyers showed interest, according to The Jills, but Potamkin wanted to stay on for more than a year, until his new Miami Beach apartment was finished.
In March, Potamkin lowered the price for the house only, to $49 million, then $44 million and then $39 million, with the adjacent lot priced separately.
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The new price of $47.5 million includes the house and adjacent lot. Motivation: His new apartment is just about ready. “He’s a ready seller now,” Jill Herzberg said.