How Star Island Became Miami’s Most Exclusive Enclave

When Diddy welcomed new Star Island resident Rick Ross to the hallowed grounds of Miami’s famed celeb hot spot, he didn’t do so with the classic gifting of a windowsill plant or the typical move-in party; no, in true Star Island fashion, the rapper was inducted into the elite tier of property owners in the waterfront paradise with a golf cart to get around the lavish neighborhood. Earlier this month, TMZ reported that Ross is under contract to claim a coveted spot on the island with the purchase of a $37 million mansion.

“This is an intimate space,” said Diddy of Star Island in a video that Ross, who was raised in Florida and dubbed his debut album Port of Miami, posted to his Instagram stories. Diddy cautioned the “Hustlin’” hitmaker, who is notorious for throwing huge social affairs, not to bring too much rambunctious energy to the tony community. “Welcome to the neighborhood! I’m not playing with you, Rozay: no fucking parties, no pool parties. I’m the head of the [committee], I don’t do none of that shit!” 

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Ross is more than aware of the island’s prestigious status and has long been eyeing a place in the neighborhood, per the agent involved in the eight-figure transaction, ONE Sotheby’s International Realty global real estate advisor Kimberly Knausz. But with the area’s incredibly limited and highly sought-after inventory, it’s not too often that Star Island opens its security-guarded gates to newcomers. “Star Island is the ultimate goal in Miami,” Knausz tells AD. “It’s so exclusive. There’s only roughly 30 homes…. [Ross] said it’s like the missing piece to the puzzle of his real estate portfolio. It’s a big accomplishment for him, as someone who grew up in Miami.”

With property owners in the area like hedge fund billionaire Ken Griffin, Gloria and Emilio Estefan, Diddy himself, and Jennifer Lopez (who has yet to offload the Star Island property she scooped up with ex-fiancé Alex Rodriguez), a group of fascinating neighbors who provide the island’s namesake star power is included in the price tag of the multimillion-dollar homes there. But just how did this 86-acre island become such a haven for the rich and famous?

Star Island’s origins

Like its Biscayne Bay neighbors, the Venetian Islands, Star Island is an artificial landmass. Florida real estate tycoon Carl Fisher is credited with its development. Completed in 1922, the island was constructed via sand dredging in partnership with the Army Corps of Engineers. There’s only one way in (and out): A causeway connects the island to the mainland, and security personnel screen visitors at a gate. The privacy offered by Star Island has been one of the biggest selling points for celebrities flocking to the neighborhood in search of a hideaway in a safe area very likely to be free of paparazzi activity. 

These days, it’s no secret the place is known for its high roller inhabitants, but Star Island’s reputation for hosting big names has been decades in the making. According to the Wall Street Journal, actor Don Johnson lived on the island throughout his tenure as Sonny Crockett on Miami Vice in the 1980s. 

According to local news outlet Miami Living Magazine, the first residence on the island was designed by architect Walter de Garmo and built in 1924. A treasured piece of the area’s history, the home was carefully restored in 2014, and the owners added a second home to the property. The compound was listed last year for a whopping $90 million. 

It’s unclear who the very first “stars” to move onto Star Island were; guided tour groups in the area have become notorious for perpetuating myths about which celebrities live there, even now. 

The allure of Star Island

In addition to A-list residents, it’s also long been established as a hotbed of spectacular star-studded fêtes (despite Diddy’s warnings to Ross, whose Project X–level bashes have earned him the ire of neighbors elsewhere). South Florida real estate magnate Thomas Kramer was known for his over-the-top shindigs on the island in the 1990s. WSJ reports that Kramer kept a coffin on hand in his more debauched days, as he wanted to “die like Elvis Presley on overdose in party mode—being the king of party in Miami.”

Miltiadis Kastanis, director of luxury sales for Douglas Elliman, says two major components draw the stars to Star Island. “The biggest thing about Star Island and why it became this exclusive single-family home community for the rich and famous is because of its privacy,” Kastanis tells AD. “And there’s no dry homes, meaning all of the homes are waterfront. On a typical island, across the street from your waterfront home, you’d have a smaller lot with a home on the dry side. But here, it’s a perfect loop: You go in one way, out the other way, and there’s about 30 waterfront homes along the path.”

The architecture of the area is also something that big-name buyers have been bolstering. Despite the high initial price tags of the homes, many of them are being gutted and updated (Ross plans on getting to work on a number of renovations to his new Star Island abode). Senior vice president of luxury sales for the Bento Queiroz Group of Compass Real Estate, Bento Queiroz, has transacted on Star Island and thus is part of a small subset of realtors who have even gotten a chance to work with the properties there. He calls out one abode in particular that he is currently involved with on the island: The buyer has enlisted prominent South African architectural firm SAOTA to design a residence which Queiroz estimates will be worth “north of $100 million” when complete.

“We have always been somewhat conservative when you compare the architecture in Miami with LA for example,” Queiroz explains. “But now some of these homes that are being developed in Star Island will really be transformative, and they will set the standards for the ultra-wealthy in Miami.” 

How hard is it to score property on Star Island?

According to Queiroz, those who aspire to be Star Island homeowners should not hold their breath, calling it “close to impossible” to land a home or plot in the neighborhood. He says he receives at least two or three calls a week inquiring about potential homes up for grabs in the A-list enclave. Because of the limited availability, many of the sales are off-market transactions, so buyers must rely on “who they know” more so than anything. 

Knausz admits it was a challenge to secure a property on the island for Ross. It’s possible the rapper will be the last big name to net a space in the area for some time due to the high demand and lack of inventory. “When I was looking with Rick Ross, we explored so many different avenues of who else could be potentially moving on the island, and there were maybe three people who we were maybe considering it, but that didn’t end up being the case. So, we had the lot that’s available right now, and that’s it. As far as homes that are standing and don’t need to be built or anything like that, that was it. They don’t come up very often.”

Given that it’s such a luxury to own property on Star Island, its inhabitants tend to hold onto their opulent abodes, allowing the value to climb and climb as it has in recent years. “People who buy on Star Island tend to stay on Star Island, and they pass it through generations,” Kastanis says. “The thing about Star Island is nothing’s average. Even the older homes were built for luxury, ahead of their time in terms of quality of finish and style and design and architecture. So, currently, there’s no homes openly marketed for sale.”