Mansion on Miami’s Star Island Sells for $75M; Breaks Priciest Home Record

Edited by: TJVNews.com

Despite the economic woes that many Americans are experiencing along with dealing with the highest inflation rate in decades, it appears that some people are still in a position to shell out megabucks for new digs.

According to a report in the New York Post, a deep pocketed buyer just plunked down $75 million for a waterfront mansion on Miami Beach’s Star Island.

The Post reported that the luxury mansion located at 8 Star Island Drive has nine bedrooms and 11 bathrooms across 15,000 square feet on a 1.85-acre lot. Mansion Global listed the seller as Lourdes Sanjenis, who had owned the spread since at least 2013. The identity of the new owner isn’t known, according to the Post report.

Speaking to the Post, the folks behind the sale were Jill Eber and Jill Hertzberg of the Jills Zeder Group — which is affiliated with Coldwell Banker Realty. They confirmed that the amount paid for the mansion had set a record for the priciest home ever sold in Miami.

In August, when the listing first appeared the asking price was $80 million and the first to break the news about the deal was the Wall Street journal and Mansion Global.

Speaking to Mansion Global, Eber said that the dollar figure of the sale proves the “ever-growing popularity” of Miami’s real estate market, as was reported by the Post.

The previous record set for the priciest home sale in Miami was set in 2015 with a $15 million sale. Billionaire hedge funder giant Ken Griffin spent $60 million for two Faena House penthouses, as was reported by the Post. Reports circulated that Griffin had plans to combine the two penthouses but that never came to fruition. He then listed them for $73 million, but ultimately sold them for a loss, according to the Post.

The Post reported that Griffin also smashed purchase records in New York City as well. He shelled out approximately $238 million for a luxury condominium at 220 Central Park South in midtown.

Griffin also owns property on Star Island which has about 30 homes. Other nig names who own homes on the exclusive island include rapper Sean “Diddy” Combs.

The property that was just purchased for $75 million includes a four-car garage and an aerial shot of the property shows a massive outdoor pool area surrounded by palm trees and covered walkways. Just past the pool, there’s a boat dock, as was reported by the Post.

In Miami, over the last two years, a number of home sales have reached the $50 million mark, according to appraiser Jonathan Miller, of Miller Samuel who spoke with Mansion Global.

The Post reported that Miller said: “All of a sudden, we have a record that’s 50% higher than the last high-water mark, which might mean Miami is giving Palm Beach some competition.”

Elizabeth Lima, of Berkshire Hathaway HomeServices Florida Realty, had the listing, according to the Post report.