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Real Estate

This listed home on Miami’s Star Island once belonged to Rosie O’Donnell until she sold it for $16.5M — now it asks $54M

By
Mary K. Jacob
Published Nov. 1, 2024, 3:37 p.m. ET

Miami’s tony Star Island, a private enclave that’s long attracted A-listers, has a hot new and currently the only listing: the former waterfront estate of Rosie O’Donnell, now on the market for a jaw-dropping $54 million.

O’Donnell, who snapped up the property in 1999 for just $6.75 million, later sold it in 2003 to Dr. David Frankel for $16.5 million, according to the Wall Street Journal.

Frankel is a prominent physician and real estate investor, and his wife Linda Frankel was a former Vogue editor and sister of news icon Diane Sawyer.

The Frankels left their mark on the estate, renovating it to match their love for elegant but relaxed luxury before their passing — Linda in 2023 and David in March 2024.

Built in the 1920s, this roughly 11,000-square-foot property includes an eight-bedroom Mediterranean-style main house, two guesthouses, a large pool, and a private dock.
Built in the 1920s, this roughly 11,000-square-foot property includes an eight-bedroom Mediterranean-style main house, two guesthouses, a large pool and a private dock. Mike Ruiz / Legendary Productions
The home occupies roughly 11,000 square feet.
The standout exterior. Mike Ruiz / Legendary Productions
It was originally bought by O'Donnell in 1999 for $6.75 million and later sold to Dr. David Frankel and his wife Linda, who renovated the estate extensively, adding features like a mango grove and redoing the landscaping.
It was originally bought by O’Donnell in 1999 for $6.75 million and later sold to Dr. David Frankel and his wife Linda, who renovated the estate extensively, adding features like a mango grove and redoing the landscaping. Mike Ruiz / Legendary Productions
The home has direct access to the water.
The home has direct access to the water. Mike Ruiz / Legendary Productions

Now, their son, attorney Greg Frankel, is overseeing the sale as he finishes up a temporary stay at the home with his own family.

The expansive estate sits on roughly an acre, offering around 11,000 square feet of living space.

The Mediterranean-style main house boasts eight bedrooms, complemented by two guesthouses, a sprawling pool with a slide, and a private dock complete with a hefty 40,000-pound boat lift.

Kids in the family have spent countless hours splashing in the pool, scooting around the island on Go Karts, and even catching lobsters, Greg told the Journal.

Their son, Greg Frankel, has lived there temporarily while renovating his own home nearby.
Their son, Greg Frankel, has lived there temporarily while renovating his own home nearby. Mike Ruiz / Legendary Productions
The terrace.
The terrace. Mike Ruiz / Legendary Productions

The home dates back to the 1920s and when O’Donnell took over, she added her own touches, famously suspending a mounted hammerhead shark above the grand staircase, which the Frankels later swapped out for a contemporary art piece.

At the entrance, a massive banyan tree welcomes visitors, anchoring a circular motor court.

Inside, the Frankels opened up the entryway, remodeled the kitchen and crafted a rooftop terrace overlooking the lush grounds.

The kitchen.
The kitchen. Mike Ruiz / Legendary Productions
The living space.
The living space. Mike Ruiz / Legendary Productions
The pool.
The pool. Mike Ruiz / Legendary Productions

Greg recalls his mom’s passion for botany — she especially loved tending to a small mango grove on the property.

“They were a big treat for everybody when they came in in the spring,” he said.

For potential buyers, however, it’s all about choices. Greg acknowledges that some may keep the property intact while others could raze it to build something larger, noting a trend across Star Island where older homes are being replaced by towering mega-mansions.

“You don’t know what to think anymore at this level,” he said.

Rosie O'Donnell sold the home in 2003 for $16.5 million.
Rosie O’Donnell sold the home in 2003 for $16.5 million. Getty Images

“This is a generational opportunity to secure a waterfront compound that offers not just a residence, but a lifestyle surrounded by Miami’s most notable figures in the heart of the city,” Listing agent Liz Hogan of Compass told The Post in a statement.

Nearby, billionaire Ken Griffin has been snapping up properties on the island, joining the ranks of stars like Gloria Estefan and Shaquille O’Neal who have also called Star Island home.

And while luxury in Miami is nothing new, the heat is on, the Miami-area luxury market has been extremely active, Hogan shared with the Journal, with Star Island prices soaring.

Just last year, a La Gorce island property fetched $100 million, while David and Victoria Beckham closed on a $72.25 million Miami Beach home.

Meanwhile, this isn’t the only former home of O’Donnell’s in the Sunshine State. O’Donnell unloaded her West Palm Beach pad in 2016 near Donald Trump’s Mar-a-Lago estate shortly after his presidential win.