Renowned African-American mogul and record executive William Leonard Roberts II, better known by his stage name Rick Ross, has made a significant real estate move by acquiring the illustrious Star Island mansion in Miami, Florida.
The waterfront property, situated on Biscayne Bay facing Miami Beach, was purchased for a staggering $35 million, according to property records. Former Oracle executive Yale Brown, currently the managing partner of Columbus Ventures, was the seller of the mansion, which was built on a sprawling 40,000-square-foot lot.
This extravagant residence boasts a plethora of lavish amenities, including six bedrooms, 8.5 bathrooms, an office, a captivating entertainment room accompanied by a bar, a balcony offering panoramic views, a summer kitchen, a rejuvenating jacuzzi, a heated pool, and a 40-foot dock.
Originally constructed in 1992, the mansion underwent a transformation under the ownership of Yale Brown in 1999.
The result is an opulent dwelling that features a generously sized covered terrace, a luxurious pool area, a well-appointed summer kitchen, and a serene Japanese Zen garden.
The property boasts 100 feet of water frontage along Biscayne Bay, complete with a 40-foot dock.
The transaction was brokered by a team of agents led by Coldwell Banker’s Jill Eber and Jill Hertzberg, from The Jills Zeder Group.
Representing Ross, Kimberly Knausz from One Sotheby’s International Realty played a pivotal role in negotiating the price down by $2.5 million, finalizing the deal at $35 million.
Knausz stated: “He instantly fell in love with the grand entry. It has a very long driveway stretching toward the mansion that creates an air of real luxury. The architecture also played a part, as it’s far beyond the ordinary modern home, and he plans to enhance it to reflect his personal style.”
Ross, a native of Miami, amassed his fortune through his successful music career and his adeptness as a record executive. He considers this mansion a pivotal addition to his multimillion-dollar real estate portfolio, which solidifies his status as one of America’s most prosperous Black musicians.
This recent acquisition by Ross mirrors a growing trend among prominent African-American business magnates, as they continue to invest substantial amounts in sprawling real estate properties and luxurious mansions.
Fellow musicians Jay-Z and Beyoncé spent $200 million on a Malibu mansion earlier this year, while Robert L. Johnson, recognized as the first Black billionaire, made headlines with his purchase of a lavish $20-million mansion in Palm Beach Garden’s prestigious Old Palm Golf Club.
In the grand tapestry of extravagant acquisitions, Ross’ new Star Island mansion stands as a testament to the allure of opulent real estate in the hands of the accomplished African-American elite.
