One of the Star Island, FL, properties owned by the singer Gloria Estefan and her husband, Emilio Estefan, has finally sold, according to the South Florida Business Journal. After bouncing on and off the market for six years, the waterfront home off Miami Beach closed for a whopping $35 million.
The so-called guesthouse, which had been known as Nena’s Villa, is one of two properties owned by the couple on the guard-gated island.
The Estefans live nearby, and had picked up the second residence for Emilio’s mother, according to reports. After her death, the couple rented it out for as much as $30,000 a month before putting it on the market in 2015.
While the home took its sweet time to sell, the long-awaited real estate deal for the musicians ended on a high note. The couple purchased the place in 1993 for $1.8 million and updated it in 1995.
With two homes on the 1.34-acre compound, the property includes six bedrooms and 10 bathrooms, on almost 8,000 square feet.
Guesthouse belonging to Gloria Estefan and her husband.
The bayfront build sits on a corner lot with 240 feet of waterfront and unobstructed views to Biscayne Bay and the downtown Miami skyline.
A two-story, Floridian-style villa is the main house on the property and features open verandas that face the bay. Details include a white interior, hardwood and marble floors, arched doorways, a living room with a fireplace, separate dining room, and piano room. In addition, a large kitchen boasts luxurious water views.
Toward the front of the property is the separate three-bedroom guesthouse.
The lushly landscaped grounds feature tropical foliage, palms, a resort-style pool and spa, grill area, private dock, and sunset views.
Billed as “truly one-of-a-kind,” the listing notes that due to its “location, lot size and amenities, this residence is like no other on Star Island.”
Clearly, a buyer agreed.
While at one time the Estefans sought as much as $40 million, they had more recently sliced the price to $27.9 million in May 2020. The price was raised to $35 million at the end of 2020, when the pandemic fueled a buying frenzy in South Florida’s luxury market.
In addition, the small island only has about four dozen or so properties, which means that homes are rarely available. Currently, the only active one listing is a 1-acre plot of vacant land on the market for $32 million.
The many stars of Star Island
True to its name, the spit of land located in Biscayne Bay off Miami Beach has been home to some notable figures, including Rosie O’Donnell, Sean Combs, and Shaquille O’Neal. The “Real Housewives of Miami” star Lisa Hochstein also owns a mansion there.
Lea Black, another “Housewives” cast member, listed a property in June that she owns with her husband, the attorney Roy Black. They purchased the Star Island mansion with plans to renovate, but never moved forward on the project. That property, which was listed for $34 million, is now off market.
In addition, the splitsville couple Jennifer Lopez and Alex Rodriguez, the former baseball star, had been rumored to be in the process of picking up a $40 million home on the island last year. Now that the dynamic diva is linked to her old flame Ben Affleck, she is on the hunt for a West Coast mansion.
Estefan’s chart-topping hits, such as “Conga,” are estimated to have sold 120 million records worldwide. The Grammy Award winner has also been inducted into the Songwriters Hall of Fame and has won numerous Billboard Music Awards.