Overview
- The off‑market deal transferred 1 West Star Island Drive from Combs’ corporate entity to JFStar LLC for $55 million, with records showing the closing in mid‑July.
- Buyer JFStar LLC is led by John A. Franklin and financed part of the purchase with an $18.5 million mortgage from Axos Bank.
- The 1.3‑acre, roughly 8,000‑square‑foot estate has six bedrooms, eight‑and‑a‑half baths and about 240 feet of water frontage and was bought by Combs from Gloria and Emilio Estefan in 2021 for $35 million.
- A buyer‑filed specific‑performance lawsuit over a delayed closing was voluntarily dismissed on July 2, clearing the way for the transfer to proceed.
- Combs remains incarcerated at FCI Fort Dix serving a 50‑month sentence, retains the adjacent 2 Star Island property, and continues to pursue appeals and face related civil cases.