Russian Billionaire Vladislav Doronin Sells Miami Estate for Record $120 Million
Russian Billionaire Vladislav Doronin Sells Miami Estate for Record $120 Million
Miami, FL – March 10, 2025 – The Miami luxury real estate market has once again shattered records as Russian billionaire Vladislav Doronin sold his lavish Star Island mansion for a staggering $120 million. The sale marks the highest residential real estate transaction in Miami-Dade County, surpassing the previous record of $107 million set in 2022.
A Billionaire’s Paradise
The estate, originally owned by NBA legend Shaquille O'Neal, boasts eight bedrooms, nine bathrooms, a resort-style swimming pool, a private dock, and a tennis court. The waterfront property, which sits on the exclusive Star Island, has long been a coveted location among ultra-high-net-worth individuals seeking luxury and privacy.
Doronin, a renowned real estate developer and owner of OKO Group, is known for his portfolio of high-end properties worldwide. His decision to sell comes amid a continued wave of ultra-wealthy buyers flocking to Miami, attracted by favorable tax policies, business incentives, and the city’s tropical climate.
Miami's Booming Luxury Market
The sale of Doronin’s estate highlights Miami’s booming luxury real estate sector, which has seen an influx of billionaires and corporate executives relocating their businesses and homes to South Florida. The region's real estate market has experienced unprecedented demand, with limited supply driving prices to record highs.
“This sale solidifies Miami’s status as a premier destination for the world's wealthiest buyers,” said a spokesperson for the brokerage firm handling the transaction. “We are seeing more high-net-worth individuals investing in luxury properties, signaling a strong and resilient market.”
What’s Next for Miami Real Estate?
As demand for exclusive properties continues to surge, real estate analysts predict that Miami’s ultra-luxury home prices will keep climbing. With limited availability in sought-after areas like Star Island, Fisher Island, and Palm Island, bidding wars and record-breaking deals are expected to continue.
For now, Doronin’s record-setting transaction stands as a testament to the unstoppable growth of Miami’s luxury real estate market, making the city one of the most desirable locations for the world’s elite.
đź“Ś Source: New York Post
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