Many megamansions for sale, but nobody’s buying
It’s the ultimate trophy property: A 29,000-square-foot spread on Biscayne Bay with 13 bedrooms, a gun room, fingertip identity-scanners, and, for privacy from gawkers on passing boats, a machine that shrouds the backyard in mist. Yet several years after putting the home on the market, no one has offered owner Thomas Kramer anything close to his current asking price of $50 million.
Still, he isn’t entertaining a cut — because showing it is entertaining enough. Sears Chairman Edward Lampert and singer Enrique Iglesias have visited, according to people who showed the house; director Michael Mann used the home to shoot scenes of the new movie version of Miami Vice. “I’ve met unbelievable, interesting characters,” says Kramer, 48, a real estate developer.