\n<\/p>\n
\n\tOne of Sean \u201cDiddy\u201d Combs\u2019 Star Island estates in Miami has changed hands in a $55 million deal, as the music mogul continues to serve his\u00a050-month<\/a> federal prison sentence<\/a> for his conviction on two counts of prostitution-related charges.<\/p>\n \n\tThe waterfront mansion, located at 1 Star Island Drive and purchased by Combs in 2021 for $35 million, has been sold<\/a> in an off-market transaction. The buyer, John A. Franklin, is financing the purchase through an $18.5 million mortgage from San Diego-based Axos Bank.<\/p>\n \n\tThe 1 Star Island estate is one of two properties Combs owns on Star Island, the other located at 2 Star Island, which was raided by Homeland Security as part of\u00a0a federal investigation that included sex trafficking allegations against Combs. The mogul still owns the 2 Star Island estate, which he purchased in 2003.<\/p>\n \n\tAccording to a court filing, the 2 Star Island (also listed as 2 W Star Island Drive) estate was previously included as a central asset in Combs\u2019 unsuccessful effort to secure pretrial release following his September 2024 arrest on federal sex trafficking charges.<\/p>\n \n\tLocated on the exclusive Miami Beach enclave, the 1 Star Island estate, which was previously owned by Gloria Estefan and Emilio Estefan, includes a six-bedroom, eight-and-a-half-bathroom house on more than an acre of waterfront property, as well as a guest house.<\/p>\n \n\tAccording to The Real Deal,<\/a> the estate features luxurious amenities, including a swimming pool, private dock, guesthouse, basketball court, spa, and views of the Miami skyline. The property underwent extensive renovations following Combs\u2019 purchase of the residence.\u00a0\u00a0<\/p>\n \n\tAhead of his September 2024 arrest, Combs paid off nearly $19 million of the remaining balance on the 2 Star Island property\u2019s mortgage. His attorneys argued <\/a>that doing so ensured the mansion could be pledged as collateral in a proposed bail package. \u201cIn anticipation of this bail hearing, on Aug. 20, 2024, Mr. Combs paid off the remaining mortgage of about $18,000,000 so that the home could be used to secure a bond and be free of a mortgage.\u201d<\/p>\n