Star Island Miami Beach – Island Community for the Stars

Star Island is an island community of single family Homes, whose residents include Gloria Estefan, Rosie O’Donell, Shaquile O’neal, Daniel ‘Tommy’ Mottola, and business leaders such as Phillip Frost and Susan Miller.  Star Island is the most exclusive of the tri-island and homeowner association comprised of Star, Palm and Hibiscus Islands.  Most notably, in the midst of the most severe housing downturn in a generation, high end estate homes such as the one highlighted below sold in just four months.  Also of note is that the discount from the original asking price is relatively small.

Star Island – Old World Charm Home

Star Island Luxury Home

Located on an oversized 48,300 SF lot with over 220 linear ft. of watefront, this classic southern-style home features Old World charm.  Featuring Southern and Eastern exposure towards Miami Beach, Fisher Island, and the cruise ships.  Located only five minutes away from all the excitment of South Beach.  This single family estate offers exclusivity, privacy and is located on a 24 hour guard gated island community. Owners dock their yachts and live among the stars (the next door neighbor is Rosie O’Donell)!

:  Oversized Waterfront Proeperty with 220 ft. on Water, Spectacular location on Star Island, Gated Island Community
:  Orientation towards busy causeway and potential for traffic noise.

Sold Price: $8,100,000 (2008)
Original Asking Price : $9,750,000 (2008)
Bedrooms: 6
Bathrooms: 6
House S.F.: 4,720
Land S.F.: 48,300
Sold Date: September, 2008
Sold Price per S.F.: $1,716/S.F.

Discount from Original Asking Price: 17% (132 days on market)

Source:  SouthEastFlorida Regional MLS (small font)

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