Lennar’s Miller family sells Star Island estate at huge price chop

It hit the market two years ago for $49M

Mar.March 13, 2019 12:30 PM

Stuart Miller and 23 Star Island Drive (Credit: Realtor)

After hitting the market two years ago for $49 million, the home of late Lennar Corp. founder Leonard Miller and his wife Susan Miller, a prominent Miami philanthropist, sold for just over half that amount.

Property records show the Susan Miller Revocable Trust sold the seven-bedroom, 10,211-square-foot mansion at 23 Star Island Drive for $25 million to Florida Property HoldCo, a Delaware company managed by Berntson Porter & Company, an accounting and wealth management firm based in Bellevue, Washington. No mortgage was recorded.

Lennar Chairman Stuart Miller, Leslie Miller Saiontz and Jeffrey Miller, acting as trustees, sold the 1.85-acre waterfront property. It was listed with Jill Hertzberg of Coldwell Banker’s The Jills, hitting the market in 2017 for $49 million and reduced to $29 million earlier this year. Jill Eber, also of the Jills, represented the buyer, according to Realtor.com.

Leonard Miller, who died in 2002, and Susan Miller, who died in 2016, built the waterfront estate at 23 Star Island Drive in 1973. The property has 327 feet of water frontage, a pool, lighted tennis court, dock and boat lift. The estate includes a separate guest house with two bedrooms, two baths, a kitchen and a living room.

Records show the Millers paid $210,000 for the waterfront lot in 1973.

Exclusive Star Island is also home to Gloria and Emilio Estefan, Phillip and Patricia Frost, and others. Stuart Miller is planning a number of luxury homes on the island, where he owns 4, 5, 6, 10, 11, 12 and 22 Star Island Drive. In June, the former Lennar CEO paid $33 million for the former estate of ex-South Beach developer Thomas Kramer at 4 and 5 Star Island Drive.

Related Articles

802 West Dilido Drive with agents Dina Goldentayer and Miltiadis Kastanis (Credit: Douglas Elliman)

Developer gets $15.6M for Venetian Islands spec home

Todd Glaser, Rony Seikaly and a rendering of spec home at 1635 W 22nd Street (Credit: Mary Beth Koeth, Getty Images)

Todd Glaser, Rony Seikaly close on Miami Beach spec mansion

Jeffrey Soffer and Fontainebleau Miami Beach

Jeffrey Soffer scores $1.2B refi of Fontainebleau Miami Beach

The LaLanne exhibit at The Real Deal’s event in October

Michael Shvo to unveil tropical gardens with LaLanne exhibit at the Raleigh

Thomas O’Reilly, John Marshall, Ivan Chorney and Michael Martirena with Continuum North unit 1402/03 (Credit: Douglas Elliman and LinkedIn)

Tech entrepreneur sells Continuum unit to Neuberger Berman exec

Daily Digest Miami

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

Miami Beach loosens regulations for real estate developers and small businesses

Miami Beach relaxes rules on development, pools, restaurants

Rendering of Urbin Coconut Grove and Rishi Kapoor

Co-living venture Urbin expanding to Miami Beach