The Diddy mansion sale is officially complete, with a company connected to Sean “Diddy” Combs transferring his waterfront estate at 1 Star Island Drive for $55 million. Property records show 1 West Star Island LLC sold the Miami Beach residence to JFStar LLC, a Virginia company led by businessman John A. Franklin. The deal closes a dramatic chapter involving an exclusive property, an incarcerated music mogul, and a recent legal fight between the buyer and seller.
The nearly 8,000 square foot estate sits on approximately 1.3 acres near the entrance of Star Island. The property includes 240 feet of waterfront, a dock, a pool, a spa, a two story main residence, and a separate guest house. The home has six bedrooms and eight and a half bathrooms. The complex was originally built in 1940 and expanded in 1995, giving the new owner a sizable piece of one of Miami Beach’s most closely watched luxury communities.
The sale reportedly took place outside the public listing market. According to The Real Deal, JFStar LLC financed part of the purchase with an $18.5 million mortgage from Axos Bank. The buyer’s company is based in Newport News, Virginia, while Franklin is identified in property records as a Virginia Beach businessman. No public statement detailing Franklin’s plans for the estate had been reported when the transaction became public.
Combs acquired the property from Gloria and Emilio Estefan in 2021. According to an earlier report from The Real Deal, the Estefans sold the residence, which they used as a guest estate, for $35 million after first putting it on the market years earlier. The home had been known as Nena’s Villa and was listed for $40 million in 2015 before ultimately selling at its later asking price. The 2021 buyer financed that purchase with a $20.7 million Bank of America loan.
Based on the confirmed purchase and sale prices, the Diddy mansion sale produced a $20 million gross increase in value over five years. That equals roughly 57 percent above the 2021 price before accounting for mortgages, taxes, upkeep, legal expenses, and other costs connected to owning or selling the estate. Calling the entire difference profit would overstate what is publicly known, but the numbers still show a major rise in the property’s transaction value during Diddy’s’ ownership.
The closing also followed a public dispute between Franklin and the company that held the mansion. According to TMZ, Franklin filed a lawsuit claiming the parties had reached a $55 million purchase agreement in March 2026 with a closing scheduled for May 12. Franklin alleged that 1 West Star Island LLC was “not ready or able to close” because the company had not provided documents needed to clear issues involving mortgages attached to the property. He asked the court to enforce the agreement and complete the sale.
Combs’ side rejected Franklin’s version of the breakdown. A representative told TMZ that “1 West Star Island, LLC was ready and on standby to close the transaction on the date agreed.” The representative claimed Franklin failed to perform his obligations and received notices of default in May. Diddy’s representative also maintained that earlier loan and permit matters had been handled administratively and did not prevent the seller from completing the transaction.
The recorded transfer now confirms that the $55 million deal ultimately moved forward. Public reporting available when the Diddy mansion sale was announced did not establish whether the lawsuit had been dismissed, settled, or otherwise resolved following the closing. What is clear is that the buyer named in the dispute is connected to the same company now identified in property records as the estate’s new owner.
The sale does not completely end Diddy’s presence on Star Island. Property records show he still owns the neighboring estate at 2 Star Island Drive. Combs purchased that residence in 2003, nearly two decades before expanding his footprint with the former Estefan property. His continued ownership next door makes the $55 million transaction a reduction of his Miami real estate holdings rather than a full exit from the island.
The transaction comes while Combs is serving a federal prison sentence. A judge sentenced him to 50 months in prison on October 3, 2025, after a jury convicted him on two counts involving the transportation of people for prostitution. The jury acquitted Combs of the more serious sex trafficking and racketeering charges.
Federal agents searched a Miami property belonging to Combs in March 2024 as part of the investigation that preceded his arrest and trial.
