In a landmark real estate transaction, Russian billionaire Vladislav Doronin has sold his Star Island estate for a record-breaking $120 million, setting a new high in Miami-Dade County's luxury property market.
💡 Property Details
📌 Previous Ownership: Doronin, head of the luxury development firm OKO Group, purchased the property, formerly owned by NBA star Shaquille O'Neal, for $16 million in 2009.
📌 Estate Features: The mansion boasts eight bedrooms, nine bathrooms, a pool, private dock, and tennis court, epitomizing luxury living.
📌 Potential Changes: The new owner, linked to health care technology entrepreneur Michael Ferro, may consider demolishing the existing structure, indicating plans for redevelopment.
Star Island's Prestige
Star Island is renowned for its exclusivity, having been home to celebrities like Gloria Estefan and Jennifer Lopez. This sale surpasses the previous record of a $107 million purchase in 2022, highlighting Miami's escalating luxury real estate market.
Doronin's Real Estate Ventures
This isn't Doronin's first notable transaction; in 2024, he acquired a $135 million penthouse in New York City's Aman New York's Crown Building, underscoring his significant presence in the luxury real estate sector.
Conclusion The sale of the Star Island estate for $120 million underscores Miami's growing appeal among affluent buyers and solidifies its status as a hotspot for luxury real estate investments.
