Sean “Diddy” Combs has sold one of his waterfront properties on Miami Beach’s Star Island for $55 million, according to property records. The transaction involves the estate at 1 Star Island Drive. It was sold through Combs’ 1 West Star Island LLC to JFStar LLC, a Newport News-based entity led by John A. Franklin. The nearly 8,000-square-foot residence sits on 1.3 acres of bayfront land. Additionally, it includes six bedrooms, eight and a half bathrooms, a pool, a spa, and a private dock.
The property, which dates back to 1940 and was expanded in 1995, features a two-story main residence. There is also a separate guest cottage. Before Combs purchased the home in 2021 for $35 million, it belonged to music figures Gloria and Emilio Estefan. They had used it as a guest retreat near their primary Star Island estate. The recent sale appears to have been completed privately rather than through a traditional public listing.
The buyer financed part of the purchase with an $18.5 million mortgage from San Diego-based Axos Bank, records show. Combs continues to own the neighboring property at 2 Star Island Drive, which remains his primary Star Island residence. The sale comes as Combs serves a four-year federal prison sentence. He was convicted on two counts related to transportation to engage in prostitution. However, he was acquitted of racketeering and sex trafficking charges.
Star Island’s Billionaire Boom and Celebrity Allure
Star Island has remained one of Miami Beach’s most exclusive residential communities, with roughly 30 estates attracting celebrities, business leaders, and wealthy investors. In recent years, the island has seen several major real estate deals. These include billionaire hedge fund manager Ken Griffin’s expansion of his holdings to about 6.5 contiguous acres. Other notable sales include Vlad Doronin’s $120 million estate transaction. In addition, Russell Weiner made a $35.3 million purchase of a property previously owned by Rosie O’Donnell.
The island has also remained connected to hip-hop figures. Rapper Rick Ross increased the mortgage on his Star Island home to $35 million after purchasing the property for the same amount three years earlier. At the time of Ross’ purchase, Combs gifted him a golf cart. Ross shared this in an Instagram post.
Leave a Reply