Lennar chief Stuart Miller sells Star Island home for $49.5M
The chief of the country’s largest homebuilder just sold his own home, on Star Island.
Stuart Miller, executive chairperson of Miami-based Lennar, sold his three-story, 27,305-square-foot single-family home for $49.5 million on Tuesday, according to the Real Deal. The waterfront 22 Star Island designed by DOMO Architecture + Design has 12 bedrooms, 12 bathrooms and four half bathrooms. Amenities include a guest house and three pools — one on the roof of the main house.
Appropriately named Star Island has been home to some of Miami’s wealthiest residents, occasionally including TV, music and film stars. Miller grew up there in a home owned by his late parents, Leonard and Sue Miller; he bought 22 Star Island for $7.5 million in 2012 and reportedly added a second house to the property.
He won’t need to go far; Miller owns a second 18,454-square-foot home on Star Island, according to property records.
While Miami-Dade experienced a drop in luxury home sales during the second quarter of 2020, that’s reversed, said said Jill Hertzberg of the Jills Zeder Group, who was not involved in the sale but knows the island well. Her firm has $200 million in pending sales since early July; four homes are each under contract for over $20 million.
Low lending rates are driving tax refugees from California, New York, Illinois, Connecticut, and New Jersey are flying to Miami to scout for homes.
“Everyone that was on the cusp of buying, the pandemic pushed them over.”
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This story was originally published July 29, 2020 at 7:00 AM.
