Rap Mogul Rick Ross Will Drop a Cool $20 Million to Renovate His New $35 Million Miami Home

Rick Ross made headlines last August when he purchased a waterfront property on Miami’s exclusive Star Island for $35 million. Now he’s got plans to renovate the property. 

Rick Ross
LOS ANGELES, CALIFORNIA – JUNE 26: Rick Ross attends the 2022 BET Awards at Microsoft Theater on June 26, 2022 in Los Angeles, California. (Photo by Paras Griffin/Getty Images for BET)

“He instantly fell in love with the grand entry, it has a very long driveway stretching towards the mansion that creates an air of real luxury,” Kimberly Knausz with ONE Sotheby’s International Realty told The Robb Report. “The architecture also played a part as it’s far beyond the ordinary modern home and he plans to enhance it to reflect his personal style.”

Before image (The Jills Zeder Group/1 Oak Studios)/After image (MV Group USA)

No More DIY for Ross

Although he recently boasted on social media about rolling up his sleeves and doing some of the construction work himself, turn out Ross has plans to drop a cool $20 million in gut renovation costs to the property, a New York Post report claims. Now reports are saying the estate will be worth an estimated $100 million when the rehab is done. 

“He thinks big and wants this to be one of Miami’s greatest homes which allows us the opportunity to be innovative and creative with the design and the materials we use,” luxe homebuilder Manny Angelo Varas told The Post. “Once complete this is going to be of the city’s most valuable and iconic homes worth $100 million.”

Star Island is a gated community that is home to celebrities and uber wealthy property owners. Located between Miami Beach and mainland Florida, visitors and residents enter the island from the MacArthur Causeway. Celebrities such as Jennifer Lopez, Sean “P. Diddy” Combs and Gloria Estefan live on Star Island. Retired NBA player Shaquille O’Neal once called Star Island home, too. Now Ross is digging his heels into the sand on the island and is being welcomed by his neighbors. Combs gifted Ross with a golf cart as a housewarming gift. 

Gut Renovations Are Underway

Working with Varas, a homebuilding expert specializing in developing and gutting estates for the wealthy, Ross will be transforming the estate to meet his aesthetic. 

“We are excited to be expanding the home towards the ocean and we are planning a Japanese rare Koi fish pond, the walls with maybe a Basquiat painting,” Ross told The Post.

When Ross purchased the 12,400-square-foot mansion, it included six bedrooms and nine bathrooms. The living room includes 30-foot ceilings and a mahogany fireplace. There’s a media room and a library as well as a chef’s kitchen complete with a butler’s pantry. Outside there’s a swimming pool and outdoor kitchen. In addition, there is 100 feet of private waterfront on the Biscayne Bay featuring a 40-foot dock ready for Ross to park a yacht. 

As part of the renovation Varas and Ross are adding an additional 4,000 square feet to the home. 

The facade of the home is being changed to include large windows and new paving in the driveway. 

Varas has already stripped the home’s exterior. While it hasn’t been shared how many bedrooms and bathrooms will be present after renovations are completed, one thing is certain: there will be a recording and production studio in the home.  

Outside, a luxe swimming pool will sit right on the Biscayne Bay and will be surrounded by a spacious lounge area complete with palm trees. 

It’s not clear if more garage space will be added to the property for Ross’ fleet of cars–at present there’s a two-car garage on set. But one thing is for certain: Ross is confident in his investment. 

“Talk is cheap,” Ross said in an Instagram post. You finna do something great.” 

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