Is Star Island losing its luster?
Celebs renting out homes
Something strange is happening on Star Island, the island off the MacArthur Causeway that’s home to 98 very rich, very famous folks: There are currently four properties up for rent, out of just 32. Singer Gloria Estefan and her husband Emilio are offering one of the guest houses for $30,000 a month. There’s developer Tom Kramer’s foreclosed crib, for rent at $150,000 a month. Other villas are going for $65,000 and $75,000 a month. Rentals tucked between $100 million properties? “It is unusual to have that many rentals there,” says high-end Realtor Ben Moss. “In listings above $10 million, there’s a three-year inventory. Some investors prefer renting out for a while. “But for some sophisticated buyers with $50 million to spend, this could cause the island to lose some of its luster.”
On Our Radar
- Wilmer Valderrama in Miami
- Vanilla Ice headed to the Design District?
- Thrive Seminar, Nelson Foundation will award local entrepreneur $10,000 on Thursday on Miami Beach
- Comedian Jo Koy at Magic City Casino
- Want to get gorgeous fast? Glamsquad is one solution
- Puff Daddy and pals to take stage at Fontainebleau
- Miami Marlins star Giancarlo Stanton single & looking
- Brandon Flowers cancels Fillmore concert
- Zac Efron makes surprise visit to Regal, spins at Grand Central
- Ice Cube and co in town for 'Straight Outta Compton'