According to records, developer Sergio Guardazzi’s company recently sold a 0.3-acre plot at 3323 Poinciana Avenue to Poinciana Starlight LLC. The buyer, managed by James A. Star, serves as the chairman of Longview Asset Management based in Chicago. Star is married to Sara Crown Star, a member of one of Chicago’s wealthiest families, with Forbes estimating their net worth at $10.2 billion in 2020.
During the summer, the couple sold their townhouse at Murano at Portofino in Miami Beach for $5.3 million, experiencing a slight loss compared to their 2018 purchase price. Additionally, property records reveal that James Star owns two penthouses and a cabana at the Caribbean condo building located at 3739 Collins Avenue in Miami Beach.
The Coconut Grove lot previously changed hands in November 2021 for $5.8 million, indicating a substantial 213 percent increase in its value. Notably, the property boasts around 200 feet of waterfrontage.
Lourdes Alatriste of Douglas Elliman acted as the seller’s representative, while Stacy Robins of Stacy Robins Companies represented the buyer. Robins did not provide an immediate response to a request for comment.
Alatriste, refraining from commenting on the buyer, pointed out that property values in Coconut Grove have seen a remarkable surge, predicting further improvement in the neighborhood’s prospects.
Guardazzi, the seller, acquired the previous property on the site two years ago through an off-market deal facilitated by Alatriste’s outreach to the previous owner. Guardazzi subsequently had the existing house demolished.
Reflecting on the transaction, Alatriste remarked, “Making over $13 million in just a year and a half is quite substantial.”
It’s worth noting that not all residential properties are experiencing such gains. In August, an undisclosed buyer purchased the waterfront Coconut Grove mansion at 3029 Brickell Avenue for $20.3 million, representing a decrease from its previous sale price of $29 million in late 2021. Similarly, in May, another undisclosed buyer acquired the waterfront mansion at 3301 South Moorings Way in Coconut Grove for $49 million.
