John A. Franklin Of JFStar LLC Purchases Sean Combs' Star Island Mansion For $55M

The property involved in the transaction is a single-family home located at 1 Star Island Drive in Miami Beach, FL, consisting of 1.3 acres. The sale price of the property was $55,000,000. Sean “Diddy” Combs was the seller, having previously acquired the property for $35 million from Gloria and Emilio Estefan nearly four years prior. The sale was executed off-market and was financed with a mortgage of $18.5 million from Axos Bank. Combs still maintains ownership of his adjacent Star Island estate.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $55,000,000
• Buyer: John A. Franklin - JFStar LLC
• Seller: Sean Combs
• Lender: Axos Bank
• Acquisition Price by Seller: $35,000,000
• Acres: 1.3

John A. Franklin represented JFStar LLC as the buyer in this transaction. The financing structure included an $18.5 million loan from Axos Bank, highlighting the level of investment undertaken in this significant real estate deal. The sale indicates a continued interest in high-value properties within the Miami Beach market.