Sean 'Diddy' Combs Sells 1 Star Island Waterfront Estate for $55 Million
Sean "Diddy" Combs has sold one of his two waterfront estates on Miami Beach's prestigious Star Island in an off-market transaction valued at $55 million, according to property records. The sale involves the bayfront residence at 1 Star Island Drive, a property Combs acquired in 2021 for $35 million. Public records show the seller was an entity tied to Combs, while the buyer is JFStar LLC, a Virginia-based company led by John A. Franklin.
Sean "Diddy" Combs has sold one of his two waterfront estates on Miami Beach's prestigious Star Island in an off-market transaction valued at $55 million, according to property records.
The sale involves the bayfront residence at 1 Star Island Drive, a property Combs acquired in 2021 for $35 million. Public records show the seller was an entity tied to Combs, while the buyer is JFStar LLC, a Virginia-based company led by John A. Franklin. The acquisition was financed in part with an $18.5 million loan from Axos Bank.
The sale price is approximately $20 million higher than the property's recorded 2021 purchase price. Property records also indicate Combs continues to own the neighboring estate at 2 Star Island Drive.
The property traded in an off-market transaction, a common approach for many of South Florida's highest-priced residential sales, where privacy often takes priority over traditional public marketing.
Situated on approximately 1.3 acres at the entrance to Star Island, the estate offers roughly 240 feet of Biscayne Bay frontage and panoramic views of the Miami skyline. The property includes a two-story main residence and separate guest house totaling nearly 8,000 square feet of living space.
Originally constructed in 1940 and expanded in the mid-1990s, the compound features a private dock, swimming pool and spa, outdoor entertaining areas, and recreational amenities including a basketball court.
Before acquiring the property, the estate had long been owned by Gloria and Emilio Estefan, who used it as a guest residence while maintaining their primary Star Island home nearby. The couple sold the property to Combs in 2021 for $35 million, the purchase was financed with a $20.7 million loan from Bank of America.
The sale is the latest notable transaction on Star Island, where limited inventory and high-profile ownership continue to attract ultra-high-net-worth buyers. The approximately 30-home island remains one of South Florida's most exclusive residential addresses, with record-breaking sales and continued demand reinforcing its position among the country's premier luxury waterfront communities.
Images from previous PROFILEmiami coverage via The Jills Zeder Group at Coldwell Banker
Past PROFILEmiami coverage of homes on Star Island:
43 Star Island, previously owned by Rosie O'Donnell, has just been listed for $54 million by Compass agent Liz Hogan. Set on over an acre of land overlooking 203 ft of prime waterfront, the 11,104 sq ft. private tropical oasis is currently the only home for sale on the island.
Attorney Roy Black and his wife Real Housewives of Miami-star Lea Black, have listed their Star Island home for $37.5 Million. Saddy Abaunza Delgado with ONE Sotheby’s International Realty has listed the property alongside Elena & Stefano Iturriaga of London Real Estate Company. Located at 45 Star Island, the property is nestled along Biscayne Bay and provides 180-feet of waterfront access, a rarity on the island.
The first estate built on Star Island in 1924 has sold for $57 million following an ultra-luxe mega-expansion. The transaction is one of the highest prices paid for a modern home in Miami-Dade. The seller was represented by Dina Goldentayer with Douglas Elliman, while the undisclosed buyer was represented by Chad Carroll with The Carroll Group at Compass.
Music mogul and rap superstar Rick Ross has officially closed on 37 Star Island Drive for $35 million. Ross says the purchase was "a major piece to the puzzle" in building his already robust real estate portfolio. 37 Star Island Drive is a 12,374 square foot, 6 bedroom home situated on a manicured 40,000-square foot lot with 100-feet of waterfront on Miami Beach’s exclusive and ritzy Star Island.
37 Star Island Drive, a lavish waterfront estate on Miami Beach’s exclusive and ritzy Star Island, has hit the market for $37.5 million. The 12,374 square foot residence is situated on a manicured 40,000-square-foot lot, featuring 100 feet of water frontage facing Biscayne Bay and offers direct bay and ocean access. The home spans six bedrooms plus an office space, eight full bathrooms and one-half bathroom.
Miami Beach’s exclusive Star Island has emerged as the leader among the most expensive neighborhoods in the United States, leading Port Royal in Naples, FL and Beverly Hill’s Beverly Hills Gateway and Trousdale Estates, according to sales data from Zillow Group Inc. The average home sale on the ritzy island in 2022 traded for $40.2 million, up $16.7 million and 71% from 2019 when the average home sale on the island was $23.5 million.
When a residential sale crossed the $100 million threshold for the first time in Miami-Dade County history in August as The Arsht Estate sold for $106,875,000, many wondered who the mystery buyer was. It has been revealed that multi-billionaire hedge fund magnate Ken Griffin, who founded and recently moved Citadel Securities from Chicago to Miami.
The first estate built on Star Island in 1924 has hit the market for a record $90 million following an ultra-luxe mega-expansion. Located at 27 Star Island, the sprawling estate offers history and the ultimate in contemporary living with two distinct homes spanning 25,000 SF of living space on an expansive 40,000 SF waterfront lot.
Famed musician and producer partners Emilio and Gloria Estefan have sold their “guest estate” located at 1 Star Island Drive on the prestigious Star Island, for $35 million. The sprawling residence sits atop 58,332 SF of prime waterfront land.
Beach Carl Fisher, has finally sold for $39 million. The property was listed by Dora Puig and Alexa Iacovelli of Luxe Living Realty and Jill Hertzberg of The Jills Zeder Group at Coldwell Banker brought they buyer.
The multi-billionaire hedge fund magnate Ken Griffin, who founded the Chicago-based Citadel Securities, has expanded his Star Island assemblage with the acquisition of 10 Star Island for $25 million. In August 2020 an entity tied to Ken Griffin acquired the adjacent double lot with Miami Vice views of Downtown Miami at 11 and 12 Star Island Drive in an off-market deal for roughly $37 million.
Ultra-luxury real estate on Star Island is heating up amid the COVID-19 pandemic. Celebrity power couple Alex Rodriguez and Jennifer Lopez have acquired 13 Star Island Drive for $32.5 million and Ken Griffin, the billionaire hedge-fund manager and founder of the Chicago-based Citadel Securities, has acquired 11 and 12 Star Island Drive for $37 million.
22 Star Island has sold for $49.5 million in an off-market deal after making waves through the Miami real estate community with its whisper price of $65 million. The buyer has requested to remain unnamed. The 17,000 SF spec mansion sits on the northern tip of Miami Beach’s Star Island, an exclusive enclave off of MacArthur Causeway on Biscayne Bay.
Shay Kostiner, managing director of Fifth Avenue Capital Partners, has sold his vacant lot at 44 Star Island for $10 million to Hartstone Investments. Techrin Hijazi of Brown Harris Stevens, who had previously co-listed the property, represented the buyer and seller in the transaction.
Famed Musician and Producer Partners Emilio and Gloria Estefan have listed 1 Star Island Drive, a coveted Miami Beach estate located on the prestigious Star Island. Priced at $32 million and listed with RelatedISG International Realty, the sprawling residence sits atop 58,332 SF of prime waterfront land.
The legendary cul-du-sac, located at 46 Star Island, which was originally built by the "founder" of Miami Beach Carl Fisher, has dropped its price from a city high $65 million to $48 million. The mansion also previously listed via auction without reserve on January 31 with Concierge Auctions in December but did not sell.
Lennar Executive Chairman Stuart Miller has acquired Thomas Kramer's former 4 and 5 Star Island Drive for $33 million. The 1.84-acre property is adjacent to two other lots that Miller owns on the exclusive island, 6 and 7 Star Island Drive.
The infamous 5 Star Island sits on the globally recognized Star Island, one of the most prestigious private islands in Miami Beach with residents like Stuart Miller, Phillip and Patricia Frost, and Gloria and Emilio Estefan.
The $65 million Star Island mansion that was previously held the title of being the most expensive property for sale in Miami will be heading to auction without reserve on January 31 after a month long marketing period. The auction will be conducted by Concierge Auctions in cooperation with listing agents Alexa Iacovelli and Mirce Curkoski of ONE Sotheby's International Realty.
For more information about homes on Star Island, private showings or purchasing/ leasing information please fill out the form below:
Latest Posts
Mast Capital and BH Group have announced Raffles Residences Coconut Grove, the brand’s first standalone residential development, with 35 homes from $4.5 million and architecture by Brandon Haw.
Fortune International Group and KAR Properties secured an $817 million TYKO Capital construction loan for Faena Residences Miami on the Miami River, with completion expected in early 2030.
Allen Morris and Savanna plan Pine Street Residences, a 14-story community with 305 rental homes in West Palm Beach. The Oppenheim-designed project includes retail, a landscaped park and an anticipated Q4 2027 construction start.
Sean "Diddy" Combs has sold one of his two waterfront estates on Miami Beach's prestigious Star Island in an off-market transaction valued at $55 million, according to property records. The sale involves the bayfront residence at 1 Star Island Drive, a property Combs acquired in 2021 for $35 million. Public records show the seller was an entity tied to Combs, while the buyer is JFStar LLC, a Virginia-based company led by John A. Franklin.