Sean “Diddy” Combs saw the writing on the wall — and he wasn’t taking any chances.
Just before the hammer dropped on a federal sex-trafficking indictment, the hip-hop heavyweight quietly settled the $18.8 million mortgage on his swanky $48.5 million Star Island mansion.
The payment, made in anticipation of looming criminal charges, was revealed during a dramatic bond hearing last week, where prosecutors alleged that the rap mogul ran an underground ring of “Freak Offs” — wild, drug-fueled parties featuring female victims and male sex workers.
The feds raided Combs’ Star Island pad in March, reportedly discovering drugs, baby oil and lubricant, all allegedly used in these gatherings. A grand jury wasted no time, slapping him with charges of sex trafficking, racketeering conspiracy and illegal transportation for sex.
Combs pleaded not guilty.
In an effort to secure bail, Combs’ defense team, led by attorney Marc Agnifilo, proposed a $50 million bond package. His palatial Star Island home was at the center of the offer, backed by six passports — Combs’ and his family’s — to show the rapper wasn’t going anywhere.
“We paid off the mortgage because that is what it means to build trust,” Agnifilo argued in court. But the judge claimed Combs could still flee, get violent or tamper with the investigation. Bail? Denied.
Combs paid off the mortgage on his Miami home ahead of his arrest, likely also taking advantage of Florida’s Homestead Act, which protects homeowners from losing the equity in their primary residence, no matter the circumstances, a legal source told The Post.
This law shields assets like home equity and pensions from creditors. It’s the same legal loophole that allowed O.J. Simpson to comfortably live in his Florida mansion, untouched by the Goldman family’s $100 million judgment against him. By paying off his home, Diddy ensured that this key asset would be protected regardless of potential legal issues.
But the bond details lifted the lid on Combs’ extravagant lifestyle, giving a glimpse into the luxurious life he built over decades of hits and high-profile ventures. The crown jewel? His Star Island spread, which the appraisal pegged at $48.5 million, though the county property assessor marked it lower at $44.3 million.
Combs scooped up the seven-bedroom waterfront estate for $14.5 million back in 2003. Fast forward 20 years, and it’s a full-blown megamansion — 14,800 square feet, multiple pools, a spa and even cabana-style pool houses.
Combs, anticipating the legal firestorm, cleared the mansion’s massive mortgage last August. Agnifilo admitted, “It was a terrible business decision,” but the defense gambled on it to build goodwill. “No one makes bad financial decisions just for a show,” Agnifilo insisted, making clear they were trying to earn the court’s trust.
Star Island, the elite enclave where billionaires and celebs like Combs reside, isn’t your average neighborhood. It’s a 55-acre slice of paradise that’s home to fewer than 50 sprawling estates.
Hedge fund titan Ken Griffin paid $75 million for his own spot in 2022, and former Yankee Alex Rodriguez bought, then resold, a property for a cool $45.5 million.
Not content with just one home on the island, Combs also bought the mansion next door at 1 Star Island Drive for $35 million in 2021. That one, though, wasn’t on the table for the bond package.