PalmIsland

Rockstar Energy Drink CEO Buys Scott Storch's Foreclosed Home

Filed under: Estates

Over the past couple years we touched on the rise and fall of music producer Scott Storch. His Miami home was eventually foreclosed on as part of his financial meltdown. Now Russ Weiner, the CEO of Rockstar Energy drink has announced that he is the new owner of Villa Ferrari, Storch's former 20,000 square foot home on Palm Island. The mansion has a 100 foot boat dock, 11 bedrooms, 15 bathrooms, 3 guest houses and two pools. Last summer we learned that after Storch declared bankruptcy, SunTrust bank, which held two mortgages worth a combined $7.75 million against the property, bought the property back at auction on for $5.5 million. Storch had bought the home for $10.5 million but it had been listed for $13.9 million. Alex Shay found that SunTrust sold the property to Weiner Russell Trust for $6.75 million. According to Shay the house was, like many homes that have gone through a prolonged foreclosure, not in great shape and that renovation is needed. Still, the price is a bit of a steal for the size and location.

Tags: celebrity real estate, CelebrityRealEstate, miami beach, MiamiBeach, palm island, PalmIsland, rockstar energy, rockstar energy drink, RockstarEnergy, RockstarEnergyDrink, russ weiner, RussWeiner, scott storch, ScottStorch, villa ferrari, VillaFerrari

Palm Island, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

This gargantuan home on Palm Island is one of Miami Beach's biggest homes. It has over 14,000 square feet of space and is designed around a large pool which leads directly to the waterfront. Details include a two-story foyer with a winding staircase, marble floors, a formal dining room and theater room. The estate is actually a complex of four structures, a main house, guest house above the garage, staff quarters and an entertainment pavilion with a wet bar and gym. The 12-bedroom house is mainly a study in soft whites and neutrals except for the kitchen which is all dark wood and steel appliances. This home doesn't have any land to speak of but there are 200 feet of open bay frontage with dockage that can accommodate larger yachts. It is listed at $19.7 million. A wealth of interior shots after the jump.

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Tags: estate of the day, florida real estate, luxury real estate, miami beach, palm island, PalmIsland

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