Real Estate News

Former home of South Beach investor and playboy Thomas Kramer sells for $33 million

The former home of South Beach developer Thomas Kramer has sold for $33 million. The mansion, located at 4-5 Star Island, has 13 bedrooms and 12 bathrooms.
The former home of South Beach developer Thomas Kramer has sold for $33 million. The mansion, located at 4-5 Star Island, has 13 bedrooms and 12 bathrooms. DOUGLAS ELLIMAN REAL ESTATE

The former home of South Beach real estate investor and party-circuit sensation Thomas Kramer, which hit the market in March at an asking price of $40 million, has sold for $33 million.

The name of the buyer was not disclosed. Realtor Brett Harris of Douglas Elliman, who handled the transaction, declined to comment on the sale.

According to a report by The Real Deal, the buyer was Stuart Miller, the executive chairman of Lennar Corp., the Miami-based home-building giant.

The 17,000-square-foot villa, located at 4-5 Star Island Drive, spreads across two acres and features 13 bedrooms, 12 bathrooms and a 14-car garage.

The contents of the home, which included life-size "Alien" and "Predator" statues, a dining table with stripper poles and an assortment of pig figurines, were auctioned for $39,000 earlier this year.

The German-born Kramer became a local celebrity — and made a small fortune — after scooping up large plots of prime South Beach real estate south of Fifth Street during the area's renaissance in the 1990s. The family of his former father-in-law, who had loaned Kramer the money to buy those properties, took him to court in Switzerland in 2012 for failure to repay and won a $200 million judgment.

Kramer's property in Miami-Dade was foreclosed and claimed by his creditors in 2017. In January, Kramer told the Herald via a Facebook message that he had no regrets.

“I closed the chapter Star Island and all the clutter connected with it in 2012 when I lost my court case in Switzerland!” he wrote. “To get to the point: I live a much easier, less complicated life — less alcohol.”

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