Sean Combs Star Island sale closed at $55 million for the 1 Star Island Drive mansion in Miami while he serves a 50-month federal prison sentence. The off-market deal turns a high-profile waterfront property into cash, with John A. Franklin taking title through financing that includes an $18.5 million mortgage from Axos Bank.
1 Star Island Drive fetches $55 million
$55 million is the price Franklin paid for the house on more than an acre of waterfront property, where the six-bedroom, eight-and-a-half-bathroom home also includes a guest house, a swimming pool, a private dock, a basketball court, a spa and views of the Miami skyline. Combs bought the place in 2021 for $35 million, so the sale adds a $20 million gap before any renovations, financing costs or transaction expenses.
2021 was the entry point for Combs’ position on the property, and the price move since then is straightforward math. A $35 million purchase turning into a $55 million sale points to a $20 million gross spread, even before the work he put into extensive renovations after the acquisition.
John A. Franklin and Axos Bank
John A. Franklin financed the deal with an $18.5 million mortgage from Axos Bank, which means the buyer did not need to fund the full price in cash at closing. That structure leaves the transaction dependent on financing already in place rather than a last-minute scramble, the kind of setup that can keep a luxury closing moving even when the seller’s legal situation is in the background.
June brought the friction. Franklin filed a lawsuit against 1 West Star Island LLC after saying the company was not ready or able to move forward with the deal that was set to close on May 12. A rep for Combs called the lawsuit frivolous and said 1 West Star Island LLC was ready and on standby to close the transaction on the agreed date, setting up a dispute over whether the buyer or seller side slowed the finish line.
June dispute over 1 West Star Island LLC
5/11/2026 and 5/13/2026 appear in the notice-of-default dispute raised by the rep, who said Franklin failed to perform and that notices were issued on those dates. The same rep also said the Northern Trust loan and prior permit-related matters were pre-ownership issues at 1 West Star Island LLC and were cleared up as an administrative matter, narrowing the fight to whether the buyer met his obligations.
September 2024 is the other marker tied to the broader Star Island story: Combs was arrested on federal sex trafficking charges, and the remaining 2 Star Island estate was part of his failed bid for pretrial release. With the 1 Star Island sale now complete, Franklin owns the better-known waterfront house and Combs still holds the other Star Island property while serving his sentence.
