Photo via The Real Deal
A Philadelphia LLC connected to renowned restaurateur Stephen Starr's hospitality empire has acquired a waterfront residence in Miami Beach for $13 million, according to property records. The transaction represents another real estate investment by Starr's organization as the hospitality sector continues to expand beyond traditional restaurant and hotel operations into luxury residential markets.
The Mediterranean-style home spans 4,700 square feet across a quarter-acre lot on Pine Tree Drive and features five bedrooms, four-and-a-half bathrooms, a swimming pool, and private dock access. Built in 1924, the property originally listed for $14.9 million before selling at a lower price point. Compass real estate agents Nancy Batchelor and Daniel Hysa facilitated the transaction between sellers Souheil Salloum Chamaa and Myrna Domit and the Starr-affiliated buyer.
The acquisition underscores how major hospitality entrepreneurs are diversifying investment portfolios beyond food service operations into premium real estate holdings. For Nashville-area business leaders, this trend reflects the broader strategy among hospitality moguls to develop integrated lifestyle and leisure properties that extend brand influence across multiple markets and asset classes.
