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Rick Ross is under contract...

Rick Ross Acquires Waterfront Mansion On Star Island For $37.5M
SOLDSingle Family Residence

Rick Ross Acquires Waterfront Mansion On Star Island For $37.5M

$37,500,000

$3,024/SF

Building Size

12,400 SF

Asset Type

Single Family Residence

Closing

Jul 14, 2023

AI

A waterfront mansion on Miami Beach's Star Island is currently under contract. The 12,400-square-foot estate is being sold by Yale Brown of Columbus Ventures to rapper Rick Ross for a price of $37,500,000. The property sits on 0.9 acres and features six bedrooms, a pool, and a Japanese Zen garden. With a price per square foot of $3,024, this spacious and luxurious SFR is a highly sought-after asset in the Miami Beach market.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $37,500,000
  • Market: Miami Beach
  • Acres: 0.9

The sale of this impressive property is being facilitated by a team of reputable individuals and companies. Jill Eber and Jill Hertzberg of The JillsZederBeach represent the seller, while Kimberly Knausz of ONE Sotheby’s International Realty and Tawanda Roberts from Florida Realty of Miami act as the buyer's representatives. Their expertise in the Miami Beach real estate market confirms the importance of this deal and ensures a smooth transaction process for all parties involved.

Players

Jill Eber

Coldwell Banker

Broker

$1.1B

vol

46 deals

Broker

Rick Ross

Buyer

$86.7M

vol

4 deals

Buyer

Yale Brown

Seller

$72.5M

vol

2 deals

Seller

Market Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93