Diddy Scores $20 Million Profit on $55M Miami Mansion Sale While Serving Federal Prison Sentence

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The music mogul has reportedly sold his luxury waterfront mansion on Miami’s exclusive Star Island for $55 million, earning an estimated $20 million profit just five years after acquiring the property.

According to property records reported by The Real Deal, the off-market transaction was finalized around July 14, 2026, with the property transferred through Combs’ company, 1 West Star Island LLC.

The buyer is JFStar LLC, a company led by Virginia Beach businessman John A. Franklin, who reportedly financed part of the purchase with an $18.5 million mortgage from Axos Bank.

The sprawling estate at 1 Star Island Drive spans nearly 8,000 square feet and features six bedrooms, 8.5 bathrooms, a swimming pool, spa, private dock, guest house and approximately 240 feet of waterfront on a 1.3-acre bayfront lot.

Originally built in 1940 and expanded in 1995, the mansion was previously owned by music icons Gloria and Emilio Estefan, who sold it to Combs in 2021 for $35 million.

Despite the sale, Combs still owns the neighboring property at 2 Star Island Drive, the larger estate that attracted international attention after it was raided by federal agents in March 2024 during the investigation that ultimately led to his criminal trial.

The latest sale comes as the 56-year-old Bad Boy Records founder continues serving a 50-month federal prison sentence at FCI Fort Dix, a low-security correctional facility in New Jersey.

In July 2025, a federal jury in New York found Combs guilty on two counts of transportation to engage in prostitution involving former girlfriends, including singer Cassie Ventura, and another woman.

However, jurors acquitted him of the more serious charges of racketeering conspiracy and sex trafficking.

Court records indicate his projected release date is February 2028, although his legal team continues to pursue appeals while he also faces multiple civil lawsuits related to the criminal case.

Reports also revealed that the property sale experienced a brief delay after the buyer filed a lawsuit over a missed closing deadline in May 2026. The dispute was later resolved through mediation, allowing the transaction to proceed.

Star Island remains one of America’s most prestigious residential enclaves, with only about 30 waterfront estates. The neighborhood has attracted billionaires, celebrities and business executives, with recent transactions including record-breaking sales exceeding $100 million.

News of Combs’ profitable property sale has generated widespread discussion on social media, where many users expressed surprise that the embattled entertainer was able to complete such a lucrative deal while incarcerated.

Supporters described the sale as evidence of his enduring business acumen, while critics argued that it highlights the vast wealth he continues to control despite his legal troubles.

Neither Combs nor his representatives have publicly commented on the transaction.

The sale underscores the continued strength of Combs’ real estate portfolio even as he battles ongoing legal challenges and seeks to rebuild his future following his conviction.