Shaq Again Cuts Price In Miami Beach

In Miami Beach, basketball's Shaquille O'Neal has trimmed the asking price for his island mansion again, to $29 million from $32 million.

Mr. O'Neal, who was traded in February to the Phoenix Suns from the Miami Heat, had previously asked as much as $35 million for the 20,000-square-foot house, located on 2.5 acres on a man-made island community called Star Island. Mr. O'Neal, 36 years old, bought the waterfront property for roughly $19 million in 2004, shortly after arriving in Miami from the Los Angeles Lakers.

Built in 1992 by Heat center Rony Seikaly, the house has eight bedrooms, an indoor basketball court, gym, steam room and sauna. The property also has a two-bedroom guest house, a tennis court, a pool, a dock and a six-car garage.

After enduring years of a moribund market, some owners of high-end properties in the Miami area now are reducing their prices, says Jill Hertzberg, who has the listing with her business partner, Jill Eber. The two own the Jills of Coldwell Banker.