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. 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:

For more information about homes on Star Island, private showings or purchasing/ leasing information please fill out the form below:

Emilio And Gloria Estefan Sell Their 1 Star Island Waterfront "Guest Estate" For $35 Million

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. The one-of-a-kind property had been owned by the Estefan’s as their guest home for more than 20 years. Jill Eber of The Jills Zeder Group at Coldwell Banker represented the Estefans and Todd Nordstrom of Compass represented the buyer, an LLC that financed the purchase with a $20.7 million loan from Bank of America.

“This breathtaking estate has been a very special place for our family and friends, and it offers a level of safety, privacy and elegance that is simply unmatched,” said Emilio Estefan.

Prior to the sale the Estefan’s brought in award-winning architect Carlos Ott to conceptualize plans for the next evolution of the estate.

The current estate’s main house is a sprawling, two-story Floridian-style home, features five bedrooms, four full bathrooms and one half bath. The elegant residence boasts a spacious living room with a fireplace, a private dining area, a graceful piano room and a large kitchen with breakfast room. The second-floor master suite features a romantic master bathroom with a cast iron pedestal sunken tub and flaunts a sweeping private veranda that overlooks the backyard.

The property also includes a separate, private three-bedroom, three-bath guesthouse which sits at the front of the property near the gated entrance. The guesthouse features a large center courtyard with covered loggias and seating areas, a living room with soaring 30’ ceilings, a combined kitchen/dining area and a spiral staircase that leads to the family room.

Out back, the estate features 240’ of water-frontage complete with unobstructed views of both Biscayne Bay and downtown Miami. Additional amenities include a private dock with electric boatlift, an expansive pool terrace, a jacuzzi, an outdoor gazebo and 24-hour Star Island security.

Star Island has experienced an extremely hot market over the past several years. Lennar Executive Chairman Stuart Miller kicked off a long list of transactions on the prestigious island when he acquired Thomas Kramer's former 4 and 5 Star Island Drive for $33 million. Miller also developed and sold an ultra-luxury spec home at 22 Star Island has sold for $49.5 million in an off-market deal, followed by Roger and Sloan Barnett acquiring the neighboring 46 Star Island Drive for $39 million from Marc Iacovelli. In June 2020 Shay Kostiner sold his vacant lot at 44 Star Island for $10 million. Prior to their break-up Alex Rodriguez and Jennifer Lopez acquired 13 Star Island Drive for $32.5 million. Billionaire hedge fund magnate Ken Griffin of Citadel Securities has amassed a $95 million Star Island assemblage. In August 2020 Griffin acquired the adjacent double lot at 11 and 12 Star Island Drive in an off-market deal for roughly $37 million. Soon after, Griffin would purchase 13 Star Island for $32.5 million and 10 Star Island for $25 million.

For more information about homes on Star Island, private showings or purchasing/ leasing information please fill out the form below:

Emilio & Gloria Estefan List Their 1 Star Island Guest Estate For $32 Million

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 one-of-a-kind property has been owned by the Estefan’s as their guest home for more than 20 years. To conceptualize the next evolution of the estate, the Estefan’s have collaborated with award-winning architect Carlos Ott to craft an innovative concept that will nod to the property’s rich history while embracing a fresh new design.

“We are thrilled to be working alongside Emilio and Carlos to list the One Star Island estate,” said Alex Vidal, President of RelatedISG International Realty. “The property showcases the best of everything Miami has to offer – stunning waterfront views, unparalleled luxury, and now, a once-in-a-lifetime creative partnership.”

“This breathtaking estate has been a very special place for our family and friends, and it offers a level of safety, privacy and elegance that is simply unmatched,” said Emilio Estefan.

The estate’s main house, a sprawling, two-story Floridian-style home, features five bedrooms, four full bathrooms and one half bath. The elegant residence boasts a spacious living room with a fireplace, a private dining area, a graceful piano room and a large kitchen with breakfast room. The second-floor master suite features a romantic master bathroom with a cast iron pedestal sunken tub and flaunts a sweeping private veranda that overlooks the backyard. The property also includes a separate, private three-bedroom, three-bath guesthouse which sits at the front of the property near the gated entrance. The guesthouse features a large center courtyard with covered loggias and seating areas, a living room with soaring 30’ ceilings, a combined kitchen/dining area and a spiral staircase that leads to the family room.

Out back, the estate features 240’ of water-frontage complete with unobstructed views of both Biscayne Bay and downtown Miami. Additional amenities include a private dock with electric boatlift, an expansive pool terrace, a jacuzzi, an outdoor gazebo and 24-hour Star Island security.

For more information about 1 Star Island, private showings or purchasing/ leasing information please fill out the form below: