James Star, an investment manager married to a member of the billionaire Crown family, has purchased a waterfront lot in Miami's Coconut Grove for $18 million. The property, located at 3323 Poinciana Avenue, boasts approximately 200 feet of water frontage and covers an area of 0.3 acres. The sale marks a significant increase from its previous sale price two years ago, highlighting the rising property values in Coconut Grove.

Summary of transaction details

• Property Type: Land
• Transaction Amount: $18,000,000
• Address: 3323 Poinciana Avenue
• Market: Miami
• Land Size: 0.3 acres

The seller of the property is developer Sergio Guardazzi, while James Star was represented by his investment firm, Longview Asset Management. Lourdes Alatriste, from Douglas Elliman, acted as the seller's representative in the deal. Stacy Robins, from Stacy Robins Companies, Inc., acted as the broker.

Note: This transaction highlights the strong market demand for waterfront properties in Miami's Coconut Grove area, resulting in significant price appreciation for this particular lot.