TLDR:
- Rosie O’Donnell’s former Star Island home in Miami listed for $54 million
- Property spans 11,000 square feet on 1 acre with 8 bedrooms and 2 guesthouses
- O’Donnell bought it for $6.75M in 1999, sold for $16.5M in 2003 to the Frankels
- Currently only available property on the exclusive Star Island
- Property features private dock, 40,000-pound boat lift, pool with slide, and historic banyan tree
The only available property on Miami’s exclusive Star Island has hit the market at $54 million. The waterfront estate, which spans approximately 11,000 square feet across one acre, was previously owned by comedian Rosie O’Donnell from 1999 to 2003.
Built in the 1920s, the Mediterranean-style main house features eight bedrooms and is complemented by two guesthouses. The property stands out for its impressive waterfront presence, featuring a private dock equipped with a 40,000-pound boat lift and a boathouse for storing water sports equipment.
O’Donnell purchased the property for $6.75 million in 1999, during the height of her television career. She later sold it in 2003 for $16.5 million to Dr. David Frankel, a real estate investor and doctor, and his wife Linda Frankel, a former Vogue fashion editor and sister of journalist Diane Sawyer.
The Frankels made substantial improvements to the property during their ownership. They expanded the entryway, renovated the kitchen, and updated the landscaping. Linda Frankel, a botany enthusiast, developed a small mango grove on the property that became known for its spring harvests.
One notable change the Frankels made was removing a mounted hammerhead shark that O’Donnell had displayed above the staircase, replacing it with a contemporary art piece. The property’s character is further enhanced by a massive banyan tree that forms the centerpiece of the motor court.
The estate’s amenities include a large pool with a water slide, making it particularly appealing for families. The current resident, Greg Frankel – son of the previous owners and an attorney and former music executive – shares that his children have enjoyed using the pool and catching lobsters off the property’s back wall.
The property’s history includes an interesting chapter from the 1970s when it was occupied by the Ethiopian Zion Coptic Church, a marijuana-smoking religious organization. During this period, neighbors reportedly complained about dense marijuana smoke wafting across the island.
Star Island’s guard-gated community has long attracted high-profile residents. Current and former residents include Gloria Estefan, former NBA star Shaquille O’Neal, and billionaire hedge fund manager Ken Griffin, who owns multiple lots on the island.
Greg Frankel has been living in the property with his family for the past 18 months while renovating their home in Coconut Grove. Despite the property’s appeal, the Frankels decided not to make it their permanent residence as their other property is closer to their children’s school.
The listing is being handled by Liz Hogan of Compass, who notes the strong activity in Miami’s luxury real estate market. Recent notable sales in the area include a $100 million La Gorce island property and David and Victoria Beckham’s $72.25 million Miami Beach home purchase.
The property comes to market following the passing of both David and Linda Frankel. David died in March 2024, while Linda passed away in 2023. Their son Greg acknowledges that a new owner might choose to tear down the existing structures, following a trend on Star Island where wealthy buyers have demolished older homes to build larger mansions.
The estate offers over 200 feet of waterfront with views of the bay and Miami skyline. The main house features numerous entertaining areas and begins with a double-height foyer. The property’s grounds are described as having “lush foliage” in the listing materials.
The timing of the listing coincides with continued strong interest in Miami’s ultra-luxury real estate market. The property represents a rare opportunity as it’s currently the only available home on Star Island, which has become increasingly sought-after among wealthy buyers.
For potential buyers, the property offers various possibilities. While some might appreciate its historic character and recent updates, others might see it as an opportunity to build anew, following the pattern of recent Star Island developments.
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