Franklin Toskan Sells a Pair of Miami Beach Homes For $31.9 Million
Frank Toskan, the beauty entrepreneur behind MAC Cosmetics, has sold two neighboring waterfront homes in Miami Beach for a combined $31.9 million.
Toskan acquired both homes in 2021 for a total of $20.25 million, according to property records.
Purchased together by a single buyer, the pair of homes is located side by side in the coveted Sunset Island III, one of the city’s most luxurious waterfront communities.
Property Highlights
Price: $31.9 million (combined sale)
Location: Miami Beach, Florida
Bedrooms: 5/5
Bathrooms: 8/5
Total Interior Space: 6,688 square feet/4,171 square feet
Notable Features: Dual waterfront lots on Sunset Island III, private docks with bay access, pools at both residences, expansive Biscayne Bay views
The Larger Residence
The larger of the two homes, which was listed for listed for $18.75 million, is 6,688 square feet and features five bedrooms and eight bathrooms.
Positioned in an elevated waterfront setting, the home features dramatic interior volume and abundant natural light, with living and dining spaces designed to flow easily for entertaining.
Upstairs, the bedrooms occupy the second level, including a primary suite which is set beneath a striking 15-foot ceiling.
Outdoors, the backyard opens directly to Biscayne Bay and includes a sleek vertical pool, large lawn, and private dock, offering both great views and functionality for boating.
The Smaller Residence
Next door, the second home, listed for $17.75 million, measures 4,171 square feet with five bedrooms and five bathrooms.
Its design is much more classic, combining timeless design elements with Miami Beach’s relaxed coastal aesthetic.
Interiors are bright and view-focused, with a layout suited for both everyday living and casual entertaining, which can be seen in the post from The House We Love.
Outside, a horizontal pool runs parallel to its own private dock with a lift, providing extra bay access that’s surrounded by more greenery.
While smaller in scale, the home complements its neighbor perfectly, adding flexibility and privacy when the two are used together.
Final Thoughts
By listing both Miami Beach properties and selling them for a combined $31.9 million, Frank Toskan appears to be capitalizing on market timing.
The ultra-luxury waterfront market has surged in 2025, and selling now allows Toskan to lock in a sizable gain after acquiring the homes just a few years ago.
Offered together, the pair of homes presented a rare opportunity for its new owner to take over neighboring waterfront residences in one of Miami Beach’s most in-demand areas, whether as a private compound or long-term investment.
