A beachfront mansion in Coral Gables, Florida, has lowered its asking price and is now listed for $24.9 million.

Saddy Delgado of One Sotheby's International Realty has the listing for the home on Tahiti Beach Island Road.

The home first went on the market last year with Coldwell Banker for $30 million, then had its price cut to $25 million.

Completed in 2009, the home has 10 bedrooms, 10 full bathrooms and two half bathrooms, said Ms. Delgado.

It is roughly 21,000 square feet, she said, and the home has expansive covered porches with an outdoor catering kitchen.

The home has a 15-seat home theater, an elevator and a wine cellar. There is also a meditation room that could be used as a gym or another bedroom, said the owner Wendell Pfeffer, an entrepreneur, who has worked in the technology and food industries in Latin America.

Outside, an infinity pool fronts the beach. While all beaches in the state are technically public, this beach can't be accessed except through Mr. Pfeffer's property, Ms. Delgado said, adding that the 1½-acre lot is one of the few properties in the Miami area with private beach access.

Source: WSJ