Sale of $120 Million Star Island Estate
A Russian billionaire sold his Star Island estate in Miami-Dade county for $120 million, possibly for teardown. The property, once owned by Shaquille O'Neal, has a rich history and is located on a valuable corner lot on Star Island.
Key Points
- Billionaire Vladislav Doronin sold the property for $120 million
- Star Island is a star-studded locale with limited properties
- Miami's real estate market is attracting billionaires and high-end businesses
- Doronin has a history of breaking sales records in real estate
Pros
- Record-breaking sale price of $120 million
- Luxurious property with eight bedrooms, nine bathrooms, and three half-bathrooms
- Located in the exclusive Star Island neighborhood in Miami Beach
Cons
- Potential teardown of the property by the new owner
- Transformation of Miami's real estate landscape with high-end properties selling fast
- Increase in competition in the South Florida luxury market