Updated Oct 14, 2026
Ken Griffin Acquires Development Site On Star Island Drive In Miami Beach For $37M
11 West Star Island Drive, Miami Beach, FL, USA
$37,000,000
$308/SF
Building Size
119,790 SF
Asset Type
Development Site
Closing
Aug 25, 2020
About this deal
AI
The asset involved in this transaction is a development site located at 11 & 12 Star Island Drive in Miami Beach, with a lot size of 119,790 square feet. The property was sold for a total of $37,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $37,000,000
- Address: 11 & 12 Star Island Drive
- Market: Miami Beach
- Lot Size: 119,790 SF
- Seller: Stuart Miller - Lennar Corp.
- Buyer: Ken Griffin
Stuart Miller represented Lennar Corp. in the sale of the development site, while Ken Griffin was the buyer of the property. This transaction reflects the involvement of notable individuals in the Miami real estate market.
On the Map
$37,000,000
$308/SF
Development Site
View full map
Players
Miami Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93