Miami Beach's Exclusive Star Island Now Ranks As The Nation's Priciest Neighborhood

agent top miami real Miami Beach’s exclusive Star Island has emerged as the leader among the most expensive neighborhoods in the United States, leading Port Royal in Naples, FL and Beverly Hill’s Beverly Hills Gateway and Trousdale Estates, according to sales data from Zillow Group Inc. The average home sale on the ritzy island in 2022 traded for $40.2 million, up $16.7 million and 71% from 2019 when the average home sale on the island was $23.5 million. Over the past several years hedge fund heavyweight Ken Griffin, founder Citadel, has purchased an assemblage of five properties on the island for a combined $170 million. Griffin made a splash when he acquired 8 Star Island Drive, a teardown built in 1993 on 1.8-acres, for $75 million. The sale set record for single-family home sales in Miami-Dade County at the time, a record Griffin is no stranger breaking. Griffin has also acquired the adjacent 10 Star Island for $25 million and 11 and 12 Star Island Drive in an off-market deal for roughly $37 million and 13 Star Island for $32.5 million. He also owned 14 Star Island which he purchased for $24 million in 2020 and sold to ex-New York Yankee and real estate investor Alex Rodriguez for $18.5 million in a reported swap for 13 Star Island. Griffin hasn’t been the only high-profile investor buying and selling on the Island. Lennar Executive Chairman Stuart Miller kicked off a long list of transactions on the prestigious island when he acquired Thomas Kramer's former 4 and 5 Star Island Drive for $33 million. Miller also developed and sold an ultra-luxury spec home at 22 Star Island has sold for $49.5 million in an off-market deal and sold his 1.9-acre property at 23 Star Island Drive to the NBA’s Memphis Grizzlies owner Robert Pera for $25 million in 2019. Pera is developing a controversial 28,000 SF waterfront mansion with basketball complex. Roger and Sloan Barnett acquired the historic Carl Fisher estate at 46 Star Island Drive for $39 million from Marc Iacovelli. In June 2020 Shay Kostiner sold his vacant lot at 44 Star Island for $10 million. LoanDepot billionaire founder Anthony Hsieh, the founder and CEO of LoanDepot, purchased 34 Star Island Rive for $30 million. Memphis Grizzlies owner Robert Pera is building a The gated Star Island has long been one of the most desirable neighborhoods in Miami, just across the MacArthur Causeway from the entrance to Fisher Island and Miami Beach’s South of Fifth neighborhood. The island is home to celebrities and billionaires such as Gloria and Emilio Estefan, Philip Frost, Sean ‘Diddy’ Combs, Alex Rodriguez, Stuart Miller and Vladislav Doronin. The bridge onto Star Island best bienes realtor
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