‘Micro’ luxury home still on market

Frank McKinney is still seeking a buyer for his new “micromansion” in Ocean Ridge — even after knocking nearly half a million dollars off the price tag.

McKinney concedes that it’s “confounding” that the 4,087-square-foot home at 19 Tropical Drive in Ocean Ridge isn’t yet sold after he unveiled it in early February. But he insists he’s OK with that.

“I don’t lose a shred of hair or a bit of sleep over the fact that it’s still on the market,” the famously well-coiffed developer said.

The home originally was listed at $3.9 million furnished. The asking price now is $3.43 million. McKinney said he previously turned down a $3.25 million offer.

McKinney said he routinely cuts the asking price on a mansion if it doesn’t sell after about 70 days.

In building the three-bedroom, four-bathroom home, McKinney said he was responding to a demand for scaled-down luxury properties. It’s less than a quarter of the size of some mansions he has built.

The micromansion is 345 feet from the ocean, so it doesn’t have a direct water view. But McKinney said he didn’t scrimp on luxuries: There’s a 210-gallon living reef aquarium, and the sea-glass kitchen countertops change colors.

Real estate agents report a slowdown in luxury home sales across South Florida, and McKinney said he’s seen some “precipitous price drops that are a little concerning, I will say.”

But he maintains that consumer confidence is strong as the economy enjoys a “Trump bump.”

“We’ve got so many macro market indicators working in our favor,” he said.

Even with the Ocean Ridge home still available, McKinney said he hopes to start construction by July 1 on a larger micromansion — a 7,000-square-foot oceanfront estate at 3492 S. Ocean Blvd. in South Palm Beach. Expect a price tag in the $20 million range.