Reduced penthouse in Miami Beach for $7.25M

5801 Collins Avenue #1500, Miami Beach

 Courtesy of Coldwell Banker

With the new year comes a slew of price reductions, like this penthouse in a boutique condo in Miami Beach asking $7.25 million, sizably slashed from the $10.9 million it listed for last March.

“Lots of listings expire in January and sellers who have not been successful in the previous year are often more realistic,” says listing agent Jeri Jenkins of Coldwell Banker. “The combination of buyers being more confident and sellers being more flexible should create an energized market.”

Jenkins also reps another standout property which underwent a significant reduction, a gorgeous tropical modern home in Miami Beach that we featured in September.

This renovated 4,826-square-foot residence has four bedrooms and six bathrooms, offering a dynamic rooftop terrace with a plunge pool and summer kitchen.