New details about Sean “Diddy” Combs’ Miami mansion were revealed as part of his bond hearing this week.
In March, detectives raided the Star Island hip-hop house, where they said they found items including drugs, baby oil and lubricant for “Freak Offs” – graphic scenes between female victims and male traffickers in the sex trade that prosecutors allege. Diddy edited and filmed.
A grand jury indicted Combs on charges of sex trafficking, conspiracy and sex trafficking. He feels guilty.
Combs’ attorney, Marc Agnifilo, had proposed a $50 million bond package, backed by a Miami home, and offered six passports – Combs’s and five family members’ – to testify. that it is not a plane crash.
Combs was ultimately denied bail on Wednesday and taken to jail ahead of the start of his criminal trial. The judge argued that he could try to escape, commit violent acts, or interfere with the investigation of the charges against him.
However, the proposed bond package provides a glimpse into Combs’ luxury lifestyle.
The proposed bond package is largely backed by the singer’s Star Island home, which his lawyers say is worth $48.6 million. Combs also offered the equity in his mother’s Miami home as collateral, according to court documents.
Combs’ legal team cited a third-party appraisal dated June 28, 2022, which valued his home, called Two Star and located at 2 Star Island Drive, at $48.5 million.
Part of the inspection report for the Combs building at 2 Star Island Drive. Advanced Research and Analysis
According to the Miami-Dade real estate agency, the property’s market value is $44.3 million, while the estimated value is $30.4 million as of 2024. He bought the house for $14.5 million in 2003.
The home has seven bedrooms and two bathrooms with more than 14,800 square feet of living space, according to the inspection report. It has several swimming pools and a spa, as well as a pool house with cabanas.
The legal team also noted that Combs settled an $18.8 million mortgage on the Star Island home in August, pending criminal charges.
In court, Agnifilo called it a “terrible business decision” made “because we knew this day would come.”
“We paid off the mortgage because that’s what building trust is all about,” Agnifilo said. “And we did these things to build trust in a real and important sense. Nothing about this is a show. No one makes bad financial decisions just for show. It was important . And I told him this was an important thing to do.”
Star Island has many wealthy residents
Star Island, an exclusive area of Biscayne Bay that is part of Miami Beach, has some famous residents.
Aerial view of Star Island. David LEFRANC/Getty Images
Hedge-fund billionaire Ken Griffin bought a property on Star Island for $75 million in 2022 – the most expensive of several properties he owns on the island. Griffin also sold the Star Island lot to former baseball player Alex Rodriguez for $18.5 million, then bought it back for $45.5 million a year later.
This oval-shaped island is only 55 hectares and has less than 50 houses arranged around its central circular road.
Other homes on the island are going for more than the $48.5 million Combs home was assessed on.
Comparable sales listed in Combs’ Miami mansion inspection report. Advanced Research and Analysis
The 10-bedroom house was listed for $68 million in August 2023. It sold for $57 million the next month.
Combs also owns a property nearby, at 1 Star Island Drive, which he bought in 2021 from husband-and-wife singers Gloria and Emilio Estefan for $35 million. The estimate given to the court includes Combs’ purchase of $35 million as a sale that compares with several other transactions on the island and abroad. The home was not part of the proposed package.
Combs has built up a lot of money in his 3-year career
During his thirty-year career, Combs has amassed a fortune estimated at $1 billion.
At its peak in the late 1990s, his Bad Boy Records brought in nine figures annually — enough to negotiate $55 million from his label partner, Forbes reported in 1999.
Outside of music, he founded or helped market many businesses, including the clothing label Sean John, Cîroc vodka, and DeLeón tequila.
As Cîroc’s business representative, Combs negotiated a deal in which he was paid by the sold case. According to court records, Combs earned nearly $1 billion throughout his 15-year partnership with Diageo, the parent company of Cîroc and DeLeón.
He invested in Sean John in 2016, selling his stake in the business for about $70 million, Forbes reported at the time.
The money gave Combs the lifestyle he often boasted about.
In addition to the Star Island home, he has a mansion in Los Angeles that he recently put on the market for $61.5 million.
He also owns a private jet, called LoveAir, which he is trying to sell, according to his lawyer, as well as a collection of jewelry full of diamonds and watches, and an art collection that includes works by Andy Warhol and Jean-Michel Basquiat.
That wealth came with a lot of power, which prosecutors say he used to organize his crimes.
“Combs, and other members and associates of Combs Enterprise, used the power and prestige of Combs’ role in the Combs Business to intimidate, threaten and lure female victims into Combs’ path,” the indictment said.