WRE News: Vlad Doronin Breaks Miami Real Estate Record with $120M Sale of Star Island Estate

Miami Beach, FL – March 11, 2025 – A Russian billionaire just made Miami real estate history with a jaw-dropping $120 million sale—only for the home to potentially be torn down.

Vlad Doronin, a developer and owner of Aman Resorts, sold his Star Island estate, once owned by SHAQUILLE O’NEAL, for a record-breaking price. The waterfront mansion, featuring eight bedrooms, a private dock, and a tennis court, sits on a prime piece of land in Miami Beach’s most exclusive neighborhood, where properties rarely hit the market. Despite its luxury, reports suggest the buyer—an LLC linked to tech entrepreneur Michael Ferro—may demolish the house to build something even grander.

This off-market deal continues a wave of ultra-high-end sales in South Florida, where billionaire buyers are flocking in droves. As Miami cements itself as a new financial powerhouse, Doronin’s own firm, OKO Group, is helping shape the city’s future with high-profile developments like the 830 Brickell office tower, now home to Citadel, Microsoft, and Santander Bank US.

While Florida’s overall housing market slows, demand for elite real estate remains hotter than ever.