Situated on approximately 1.3 acres at the entrance to Star Island, the estate offers roughly 240 feet of Biscayne Bay frontage and panoramic views of the Miami skyline. The property includes a two-story main residence and separate guest house totaling nearly 8,000 square feet of living space.
Originally constructed in 1940 and expanded in the mid-1990s, the compound features a private dock, swimming pool and spa, outdoor entertaining areas, and recreational amenities including a basketball court.
Before acquiring the property, the estate had long been owned by Gloria and Emilio Estefan, who used it as a guest residence while maintaining their primary Star Island home nearby. The couple sold the property to Combs in 2021 for $35 million, the purchase was financed with a $20.7 million loan from Bank of America.
The sale is the latest notable transaction on Star Island, where limited inventory and high-profile ownership continue to attract ultra-high-net-worth buyers. The approximately 30-home island remains one of South Florida’s most exclusive residential addresses, with record-breaking sales and continued demand reinforcing its position among the country’s premier luxury waterfront communities.