The historic Star Island house in Miami, Florida, has been acquired by renowned African-American tycoon and record executive William Leonard Roberts II, better known by his stage as Rick Ross.
According to property records, the waterfront property on Biscayne Bay facing Miami Beach was purchased for a whopping $35 million. The mansion was built on a large 40,000-square-foot site and was sold by former Oracle CEO Yale Brown, who is now the managing partner of Columbus Ventures.
This luxurious property includes six bedrooms, 8.5 bathrooms, an office, a spectacular entertainment area with a bar, a terrace with panoramic views, a summer kitchen, a relaxing jacuzzi, a heated pool, and a 40-foot dock.
The mansion, which was built in 1992, was transformed in 1999 under the ownership of Yale Brown.
The end result is an extravagant home with a large covered terrace, a beautiful pool area, a well-equipped summer kitchen, and a tranquil Japanese Zen garden.
The property boasts 100 feet of water frontage along Biscayne Bay, complete with a 40-foot dock.
The purchase was facilitated by a team of Coldwell Banker agents led by Jill Eber and Jill Hertzberg of The Jills Zeder Group.
Kimberly Knausz of One Sotheby’s International Realty, who represented Ross, was instrumental in lowering the price down by $2.5 million, bringing the purchase to $35 million.
Knausz stated: “He instantly fell in love with the grand entry. It has a very long driveway stretching toward the mansion that creates an air of real luxury. The architecture also played a part, as it’s far beyond the ordinary modern home, and he plans to enhance it to reflect his personal style.”
Ross, a Miami native, made his riches through his successful music career and as a record executive. He sees this property as an important addition to his multimillion-dollar real estate portfolio, solidifying his position as one of America’s most successful Black singers.
Ross’ recent purchase reflects a growing trend among renowned African-American business magnates, who continue to invest large sums on expansive real estate properties and opulent residences.
Earlier this year, fellow musicians Jay-Z and Beyoncé spent $200 million on a Malibu estate, while Robert L. Johnson, known as the first Black millionaire, made news with his acquisition of a luxurious $20-million mansion in Palm Beach Garden’s renowned Old Palm Golf Club.
Ross’ magnificent Star Island mansion stands as a testament to the attractiveness of lavish real estate in the hands of the talented African-American elite in the broad tapestry of extravagant buys.