Star Island’s Hot New Listing: A $54 Million Waterfront Estate
A Piece of Miami Luxury
Miami’s tony Star Island, a private enclave that’s long attracted A-listers, has a hot new listing: the former waterfront estate of Rosie O’Donnell, now on the market for a jaw-dropping $54 million.
A Rich History
O’Donnell snapped up the property in 1999 for just $6.75 million, later selling it in 2003 to Dr. David Frankel for $16.5 million, according to the Wall Street Journal. Frankel, a prominent physician and real estate investor, and his wife Linda Frankel, a former Vogue editor and sister of news icon Diane Sawyer, left their mark on the estate, renovating it to match their love for elegant but relaxed luxury before their passing.
The Estate
Built in the 1920s, this roughly 11,000-square-foot property includes an eight-bedroom Mediterranean-style main house, two guesthouses, a large pool and a private dock. The home has direct access to the water and sits on roughly an acre of land, offering around 11,000 square feet of living space.
Features and Amenities
The Mediterranean-style main house boasts eight bedrooms, complemented by two guesthouses, a sprawling pool with a slide, and a private dock complete with a hefty 40,000-pound boat lift. The home’s current owner, Greg Frankel, has fond memories of his childhood, spending hours splashing in the pool, riding Go Karts, and even catching lobsters.
Renovations and Enhancements
The Frankels opened up the entryway, remodeled the kitchen, and crafted a rooftop terrace overlooking the lush grounds. They also added a mango grove, which was a favorite among family and friends.
Listing Agent’s Perspective
"This is a generational opportunity to secure a waterfront compound that offers not just a residence, but a lifestyle surrounded by Miami’s most notable figures in the heart of the city," said listing agent Liz Hogan of Compass.
Market Trends
The Miami-area luxury market has been extremely active, with Star Island prices soaring. Just last year, a La Gorce island property fetched $100 million, while David and Victoria Beckham closed on a $72.25 million Miami Beach home.
Conclusion
This $54 million estate is a rare find on Star Island, offering a unique blend of history, luxury, and tranquility. With its stunning architecture, expansive grounds, and direct access to the water, it’s an opportunity that’s hard to pass up. Will it be a family’s forever home or a developer’s dream project? Only time will tell.
FAQs
Q: What is the asking price of the estate?
A: $54 million
Q: When did Rosie O’Donnell buy the property?
A: 1999
Q: How much did O’Donnell sell the property for in 2003?
A: $16.5 million
Q: Who are the current owners of the estate?
A: The Frankel family, who renovated the property extensively before their passing
Q: Can I tear down the property and build something new?
A: Yes, but it’s subject to local zoning regulations and permits.
