The former waterfront estate of Rosie O’Donnell has been sold for $36 million, and it now belongs to Russell Weiner, the founder of Rockstar Energy. While that is a significant markdown from the original $54 million listing, it still provides a large return on the original price O’Donnell paid in 1999.
The home was previously owned by the late couple David and Linda Frankel. The couple purchased the home from O’Donnell 12 years ago for $16.5 million. David is a doctor and real estate investor, and Linda is a former fashion editor for Vogue and the sister of broadcast journalist Diane Sawyer. The couple completely renovated the 1920s compound. While the 12 years of ownership and eventual listing at $48 million marks a $19.5 million gain for their estate, it also indicates they received nearly $30 million more than O’Donnell originally paid.
A Star Island Retreat with Development Potential
The home on more than an acre of land is behind a gated motor court and has approximately 11,000 square feet total in the main house and the 2 guesthouses. The estate contains a total of 8 bedrooms and 11 bathrooms and includes an air-conditioned garage for 4 cars, a freeform pool and slide, and the boathouse which connects to a private dock with a 40,000-pound boat lift and over 200 feet of shoreline on Biscayne Bay.
The main house features large wood-framed French doors opening from a very nice-sized living room out to a shaded veranda. Beyond the formal dining space you are met with a well appointed modern kitchen with very nice Miele, Sub-Zero, and Viking appliances. There is also a breakfast nook and eat-in island. The upper floor boasts a primary suite with a private balcony and an office. There is also a second kitchen and family room upstairs.
Reports suggest that Weiner will expand the real estate to approximately 15,000 square feet adding a cabana, a full gym, spa, and padel court. Liz Hogan from Compass represented both parties in the transaction.
From Rosie to Rockstar and Then Some
O’Donnell, who moved to Ireland with her child Clay due to political frustration, sold her Midtown Manhattan penthouse for $7 million, after two years of marketing. Weiner on the other hand, has owned a host of real estate from Beverly Park to Hollywood Hills after selling Rockstar Energy to PepsiCo for $3.9 billion in 2020.
Star Island continues to attract the ultra wealthy, with residents including hedge fund giant Ken Griffin, who has spent about $169 million assembling a 6-acre compound, in addition to Gloria and Emilio Estefan, Rick Ross, and Sean “Diddy” Combs. Earlier this year, developer Vlad Doronin sold an adjacent property that Shaquille O’Neal formerly owned for a whopping $120 million.
While still a discount the deal serves to demonstrate the continued heat in the luxury segment of Star Island real estate adding another chapter to one of South Florida’s storied properties.
