Star Island Mansion Shatters Miami-Dade Real Estate Record
A lavish Star Island mansion has fetched a staggering $120 million, setting a new benchmark for residential real estate transactions in Miami-Dade County. The sale eclipses the previous record held by Citadel CEO Ken Griffin’s purchase of an estate in Coconut Grove.
A New King of Miami Real Estate
Billionaire Vladislav Doronin, owner of Aman Resorts, has sold his Star Island estate for $120 million, making it the most expensive residential sale in Miami-Dade history. The buyer is an entity linked to tech entrepreneur Michael Ferro Jr. This sale surpasses the $107 million Ken Griffin paid for Adrienne Arsht’s Coconut Grove property in 2022.
Star Island: An Enclave of the Elite
Star Island, an exclusive gated community off Miami Beach, has long been a coveted address for the wealthy and famous. Before the rise of "Billionaire Bunker" (Indian Creek), Star Island was the preferred neighborhood for celebrities and high-profile individuals. Past and present residents include music icons like Gloria and Emilio Estefan, Jennifer Lopez, and rapper Rick Ross. The man-made island is home to approximately 30 luxury mansions.
Key Takeaways
- Vladislav Doronin sold his Star Island mansion for $120 million.
- This sale sets a new record for Miami-Dade County real estate.
- The buyer is reportedly linked to tech entrepreneur Michael Ferro Jr.
- The previous record was held by Ken Griffin’s $107 million purchase.
- Star Island is an exclusive community known for its celebrity residents.
From NBA Star to Billionaire’s Sale
Doronin acquired the Star Island property from retired NBA superstar Shaquille O’Neal for $16 million in 2009. The mansion, spanning 20,000 square feet, was originally built in 1992 by former Miami Heat player Rony Seikaly. The 2.5-acre property at 26 Star Island Drive features amenities such as a dock, pool, and tennis court. Reports indicate the mansion was purchased with the intention of a complete teardown.
Future Record Breakers?
With the continued influx of billionaires investing in Miami-Dade real estate, it is anticipated that this $120 million record may soon be surpassed. Industry observers are watching to see if figures like Jeff Bezos will make their mark on the local luxury market.
Sources
- Miami Beach $120M Mansion Sale Sets Record in Miami-Dade, Miami New Times.