Star Island Real Estate

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Star Island, Miami FL. is one of the most prized real estate areas in South Florida. Current residents include Shaquille O'Neal, Julio Inglesias, Sean Combs, Rosie O'Donnel and Gloria Estafan. Past residents were Al Capone, Harvey Firestone, Madonna and Sylvester Stallone, among others.

Exclusive Star Island sits like a floating jewel in the aquamarine waters of Biscayne Bay, between the main land and Miami Beach. The waters surrounding the island are part of the Biscayne Bay Aquatic Preserve. Star Island is not only coveted for its supreme, unspoiled waterfront location and limited amount of residents, but also for its extreme privacy. Accessible by just one bridge, the gated enclave is the home of Miami's wealthy elite.

Star Island Aerial Views

Star Island By Sea

Star Island Located in Miami Beach

Star Island is a man-made island located in the city of Miami Beach, Florida. Completed in 1922, Star Island is considered one of the most exclusive areas of Miami Beach, and since 1986 has been home to Gloria Estefan and her record producer husband, Emilio.

The Estefans' multi-million home is actually comprised of two homes, boasting six bedrooms, eleven bathrooms, a swimming pool, tennis court, and 15,547 square feet.

Star Island also falls within The Key Biscayne Aquatic Preserve which is approximately 75,000 acres of state-protected land.

Miami Beach Star Island Areal Views

Miami Heat center Shaquille O'Neal is looking to sell his Miami Beach home for $35 million -- $3 million more than when he first listed it in 2005. (NOTE): As of April 2009, Shaquille's house is listed on the market for sale for $22,500,000.

The eight-bedroom, nearly 20,000-square-foot home is on Star Island, a private, artificial island in Biscayne Bay. The Mediterranean-style home, on a 2.5-acre waterfront lot, has an indoor basketball court, gym, steam and sauna room and a two-bedroom guest house, according to the property listing. An outdoor Jacuzzi, swimming pool, tennis court and dock are also on the property.

The home was built in 1992 by another Heat center, Rony Seikaly, who sold it in 1995. Mr. O'Neal, who owns the home through a trust, bought the property for $18.8 million in 2004, shortly after being traded to the Heat by the Los Angeles Lakers. He listed the home for $32 million in 2005, less than a year after he bought it, and reportedly looked at properties in Fort Lauderdale before pulling the Star Island house off the market.

In addition to leading the Heat to their first-ever NBA championship last season, Mr. O'Neal, 34 years old, has also won three championships with the Lakers and an Olympic gold medal in 1996.

By Ben Casselman
From The Wall Street Journal Online