South Florida Sun-Sentinel Palm Beach (Sunday)
Star Island estate’s $90 million list price could set record
A lot on Miami Beach’s ultra-exclusive Star Island that comes with two separate homes — a historic residence built in 1924 and what the listing agent describes as a “modern masterpiece” — has been listed for $90 million.
If the property sells for that price, it will top the recent $75 million sale of another home on Star Island and will set a new record for home sales in the greater Miami area, the agent said.
The 40,000-square-foot property, at 27 Star Island Drive, has 100 linear feet of water frontage on Biscayne Bay.
Star Island, which is located in Biscayne Bay between Miami and Miami Beach, lives up to its name and is popular with celebrities and high-profile business executives.
“There are about 30 homes on the island,” said Alyssa Morgan, a real estate agent with ONE Sotheby’s International Realty in Miami Beach, who holds the listing. “Since 2019, about a third of the island has traded, so it’s hot right now.”
The property consists of two homes. The first, which has been completely restored, was built in 1924 and designed by Miami architect Walter DeGarmo. That home, which embodies the style of the Roaring ‘20s, was relocated by the current owner in 2014 to make room for construction of the newer one. Together, the two residences have a total of nine bedrooms, 12 full and two half baths.
Additional features include a chef ’s kitchen, an elevator, a sunset rooftop lounge and a 1,400-bottle wine room. There’s also a pool, a waterfront gym, a spa with massage room and hair salon and a dock with boat lift.
Public records show that the current owner purchased the property in May 2011 for $10.75 million. After moving the original home, he built the larger, modern one.
Morgan said the owner had been thinking about selling for some time, but once the $75 million deal closed in December, “it made sense to list.”