Rosie O’donnell’s Former Star Island Mansion Sold for $48 Million
If you’ve been following luxury real estate in Miami, you’ve probably heard of Star Island. It’s one of the most exclusive, high-demand locations in the city, where privacy meets prestige. And now, Rosie O’Donnell’s former estate has just entered into a contract for a whopping $48 million.
But what makes this sale so significant? Well, it’s not just about the price tag. It’s about the history behind the estate, the market trends, and the people who have called Star Island home. This sale isn’t just another deal—it’s a reflection of the ever-evolving real estate scene in Miami Beach.
Star Island has long been a playground for the rich and famous, and O’Donnell’s estate stands out in more ways than one. It’s more than just a mansion; it’s a symbol of luxury, celebrity, and a lifestyle that few can attain. Whether you’re interested in real estate, celebrity culture, or just curious about the high-end property market, this sale tells you a lot about where things are heading.
In this article, we’re going to dive into what makes this property so valuable, how it fits into Miami’s current luxury real estate landscape, and why it’s capturing the attention of both local and global buyers. Let’s start by taking a closer look at the estate itself.
The Property at the Heart of the Deal: Rosie O’Donnell’s Former Waterfront Estate
Let me take you inside one of Miami’s most coveted properties. When you think about Star Island, imagine waking up in a massive eight-bedroom mansion, overlooking the water with nothing but the Miami skyline in the distance. That’s what Rosie O’Donnell’s former estate offers.
As per The Real Deal, built in 1923, this stunning waterfront estate spans over 11,000 square feet and sits on a 1.1-acre lot. It’s a home that gives you space, luxury, and privacy—everything you’d expect from a property in one of Miami’s most prestigious neighborhoods. Whether you’re hosting an event or just looking for some peace, this property is designed to make every moment feel special.
For the Frankels, who bought the mansion from Rosie in 2013, this wasn’t just a home; it was an investment in a lifestyle. They spent years making the property even more stunning, preserving its classic Mediterranean style while upgrading the amenities. But what really sets this estate apart is its location. And that’s what makes it so valuable to buyers today.
What do you think of this mansion on Star Island? Would you consider investing in a luxury estate like this one? Drop your thoughts in the comments below!
Market Context: Miami’s Luxury Real Estate Booms in June 2025
You might be wondering, “What does it really mean when a property like this goes under contract for $48 million?” Let’s break it down. Between June 16 and June 22, 2025, 17 contracts were signed for luxury homes in Miami-Dade County.
These weren’t small deals either—the total asking price was $201.7 million. When you look at numbers like that, it tells you that the luxury real estate market here is stronger than ever.
What’s important for you to know is that these homes don’t move fast—on average, they stay on the market for 103 days. So, when a property like O’Donnell’s estate goes under contract quickly, it’s a sign that it’s in high demand. That’s something you’ll want to pay attention to if you’re thinking about buying or selling in the Miami market.
And here’s another thing: luxury inventory is shrinking. Last week, there was just one less luxury listing than the week before. This means there’s less to choose from, which drives demand even higher. So, if you’re considering getting into this market, now might be the time to act.
Much like the Beverly Hills property discussed in our recent article about Fashion Nova CEO Richard Saghian’s $32 million mansion, the luxury market in Miami is showing impressive growth. Whether you’re looking at homes in Star Island or across other exclusive neighborhoods, the trend is clear—Miami’s luxury real estate market is thriving.
Previous Ownership: The Frankel Legacy and Renovations on Star Island
Let me tell you a bit about the Frankels, the couple who owned this estate after Rosie O’Donnell. Dr. David Frankel, a well-known dermatologist, and his wife, Linda, saw the potential in this property when they bought it in 2013 for $16.5 million.
But they didn’t just leave it as-is. They put their own personal touch on the property, making sure it was a perfect blend of luxury and comfort.
If you’re wondering why this matters, it’s because when you buy a property like this, it’s not just about the house—it’s about the upgrades and changes that add value over time. The Frankels understood that. They invested in renovations that would appeal to a buyer who appreciates history, but also wants modern luxury.
And when it went on the market for $48 million, they were ready to sell it to someone who would appreciate everything they had done to make it special.
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Luxury Real Estate Trends in Miami: A Market Snapshot for June 2025
Now, let’s dive into the market trends. In Miami, the luxury market is booming. Between June 16-22, 2025, a total of $201.7 million in luxury property sales were signed. Of those, single-family homes like Rosie’s former estate had an average asking price of $14.7 million. That’s a pretty impressive figure, don’t you think?
What’s even more important for you to know is that these homes, despite their high price tags, are moving faster than ever. On average, they stayed on the market for about 103 days—just over three months.
That might sound like a long time, but compared to past years, properties are moving quicker now. What does that mean for you? If you’re thinking about buying or selling in the luxury market, it’s clear: the time to act is now.
Similarly, the upgrades and personalization of luxury homes aren’t just limited to Star Island. For example, Janet and Jason Capernas’ stunning Valley Village home showcases how renovations can turn a $1.5 million house into a true masterpiece. It’s a great example of how small changes can make a big impact on a property’s value.
The Significance of Star Island: Miami’s Most Exclusive Neighborhood
There’s something special about Star Island, and if you’ve ever dreamed of living there, you know exactly what I mean. Star Island is known for its exclusivity—it’s the neighborhood where the rich and famous live. From celebrities to business moguls, everyone who lives here has one thing in common: a taste for the finest things in life.
When you buy a property on Star Island, you’re not just getting a house; you’re getting access to a lifestyle that’s almost impossible to replicate. You’re in the heart of Miami Beach, surrounded by incredible views, privacy, and a community of people who value luxury and discretion.
This is why properties like O’Donnell’s estate can command such high prices. It’s not just about the square footage—it’s about where the property is located and the lifestyle that comes with it.
So, whether you’re in the market for your own dream home or just curious about the luxury real estate market, it’s clear: Star Island is where the most exclusive deals are made.
Star Island isn’t the only prestigious location drawing high-profile buyers. For a closer look at another prime property, check out our coverage of Tracee Ellis Ross’s Hollywood home, which, like Star Island, represents the epitome of luxury living.
The Future of Luxury Real Estate in Miami Beach: What’s Next?
So, what’s next for luxury real estate in Miami Beach? The current trends tell a fascinating story. Demand is only growing, and properties like O’Donnell’s former estate are a prime example of what buyers are looking for: exclusivity, luxury, and a location that offers both privacy and proximity to the best that Miami has to offer.
In the coming months, we can expect more high-profile properties to enter the market as Miami continues to attract global buyers. Star Island, in particular, will likely remain a hotspot for those seeking the ultimate in privacy and prestige. If you’re considering buying, now’s a critical time to get familiar with the market trends, because with inventory shrinking, competition will only increase.
For sellers, the message is clear: Miami’s luxury real estate market is strong, and high-end homes are still in demand. But, you’ll need to act quickly if you want to capitalize on this thriving market.
Conclusion
This deal isn’t just about a mansion selling for $48 million—it’s a reflection of Miami’s vibrant luxury real estate market. From the estate’s history to its renovations and prime location, it shows why properties on Star Island hold such appeal. For buyers, it’s about more than just a property; it’s about securing a piece of Miami’s most exclusive real estate.
As we’ve seen, the luxury market in Miami Beach is thriving, and Star Island remains one of the city’s most prestigious addresses. Whether you’re buying, selling, or simply watching the market, the ongoing evolution of luxury properties like this one gives us a glimpse of the future of real estate in this incredible city.
Interested in more luxury real estate stories? We’ve got plenty of other fascinating home tours, tips, and guides on our website. Visit our website to explore more luxury homes and the latest real estate trends in exclusive neighborhoods like Star Island!
Disclaimer: This article is for informational purposes only. The real estate market is dynamic, and the trends discussed here may change over time. Always consult with a professional real estate advisor before making any investment decisions.
