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
Market Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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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