Rick Ross Reportedly In Contract On $37 Million Star Island Miami Mansion

Rick Ross is having quite a summer!

Exactly one month ago, the rapper/entrepreneur revealed over Instagram that he had recently acquired – and then fully customized – a 2012 Gulfstream G550 private jet. Depending on the age and condition, a 2012 Gulfstream G550 would have cost Rick between roughly $14.5 million and $40 million. The customizations would then cost a separate several million dollars.

The Gulfstream was legally purchased by a Florida-based company called Maybach Air LLC, with a primary airport just outside of Miami. That was a bit surprising to me because Rick's primary residence for the last decade has been an absolutely enormous (both in terms of acreage and square footage) estate outside of Atlanta.

Rick's Atlanta estate is the LARGEST private residence in Georgia. It was originally built by Evander Holyfield. The mansion is over 50,000 square feet and has 100+ rooms. It sits on 230 acres. Rick bought the estate in 2014 for $5.8 million. A few years later Rick bought an adjacent 90 acre property. He dubbed the property "The Promise Land." Today his total acreage is 322.

So why not use a Georgia LLC for the private jet registration?

I think we just found out.

Sources speaking to TMZ claim that Rick Ross is under contract to purchase a home on Miami's exclusive Star Island. The reported purchase price is…

$37 million

If this proves true, Rick is paying $500,000 under the home's most-recent asking price. But on the plus side for the sellers, $37 million is a significant gain over the $4.6 million they spent on the 12,000 square foot waterfront mansion back in 1999.

As you're about to see from the video tour below, the mansion is incredible. It's a 40,000 square foot lot with a 40 foot dock and 100 feet of ocean frontage. The interior features 30-foot ceilings, Travertine floors and direct pool/bay views.

The home was listed just 63 days ago so Rick moved pretty fast. Here's a video tour of the home:

According to a quick search, a flight from a private airport in Miami to the nearest private airport near his Atlanta estate would take exactly two hours.

There are just 33 homes on the gate-guarded Star Island.

If Rick's purchase closes, he will be just a few minutes walk to Diddy's two-home compound.

Other Star Island celebrity residents (past and present) include:

• Gloria Estefan
• Rosie O'Donnell
• Jennifer Lopez
• Lisa Hochstein (a reality star)
• Shaquille O'Neal

Kimberly Knausz with ONE Sotheby's International Realty reportedly worked closely with Rick Ross's sister Twanda Roberts to secure this deal.