One of Sean “Diddy” Combs’ Star Island estates in Miami has been sold in a $55 million deal, as the music mogul continues to serve a 50-month federal prison sentence following his conviction on two prostitution-related charges.
The waterfront mansion at 1 Star Island Drive was acquired by Combs in 2021 for $35 million and has now been transferred through an off-market transaction. The buyer, John A. Franklin, is financing the purchase with an $18.5 million mortgage from San Diego-based Axos Bank.
The 1 Star Island property is one of two Combs owns on the exclusive enclave. The other, at 2 Star Island, was searched by Homeland Security during a federal investigation that included sex trafficking allegations against him. Combs retains ownership of the 2 Star Island estate, which he bought in 2003.
A court filing indicates the 2 Star Island residence (also listed as 2 W Star Island Drive) was previously cited as a central asset in Combs’ unsuccessful bid for pretrial release after his September 2024 arrest on federal sex trafficking charges.
Situated on the prestigious Miami Beach island, the 1 Star Island estate was formerly owned by Gloria and Emilio Estefan. It comprises a six-bedroom, eight-and-a-half-bathroom main house on over an acre of waterfront land, along with a guest house.
Per The Real Deal, the estate offers amenities such as a swimming pool, private dock, guesthouse, basketball court, spa, and skyline views. Extensive renovations were completed after Combs purchased the home.
Prior to his September 2024 arrest, Combs paid off nearly $19 million of the remaining mortgage on the 2 Star Island property. His legal team contended this ensured the home could serve as collateral for a proposed bail package: “In anticipation of this bail hearing, on Aug. 20, 2024, Mr. Combs paid off the remaining mortgage of about $18,000,000 so that the home could be used to secure a bond and be free of a mortgage.”
Despite that effort, a federal judge denied bail. The proposal also listed his mother’s Miami residence as additional collateral. In June, Franklin sued 1 West Star Island LLC, a Combs-linked entity that owned the property he later bought, claiming the company was not “ready or able” to close by the May 12 deadline. A representative for Combs dismissed the suit as “frivolous.”
“1 West Star Island, LLC was ready and on standby to close the transaction on the date agreed,” the rep told TMZ. “Buyer, Mr. John Franklin, failed to perform; therefore, a notice of default was issued to him on 5/11/2026 with a follow-up on 5/13/2026. The Northern Trust Loan and the prior permit-related matters were all pre-ownership of 1 West Star Island, LLC, and cleared up as an administrative matter.”
Combs is serving his sentence at FCI Fort Dix, a low-security federal prison in New Jersey. The Federal Bureau of Prisons lists a projected release date of Feb. 23, 2028. His legal case remains active; a three-judge panel of the 2nd U.S. Circuit Court of Appeals recently heard arguments on whether his sentence was excessively harsh. A ruling is pending.
This article was originally published on VIBE.
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