Television producer Jeff Franklin has finally walked away from his big Miami Beach bet, closing the book on a high-profile waterfront play that did not go his way.
Franklin, best known as the creator of the sitcom Full House, quietly sold his last two vacant lots on the Venetian Islands for a combined $22.5 million, wrapping up the 1.2-acre assemblage he put together in 2021. After years of chasing a trophy spec estate and trying to reposition the land, the exit leaves him nursing what appears to be a multi-million-dollar paper loss and marks the end of his splashy run on San Marco Island.
Sales and Buyers
Property records show Franklin sold the lot at 1230 South Venetian Way for $11 million to a Wyoming-based LLC named for the address, and the neighboring 1236 South Venetian Way for $11.5 million, according to The Real Deal. Listing agent Julian Johnston told the outlet that Franklin originally wanted a single, oversized residence on the combined site, complete with a tennis court, before pandemic-era delays and shifting buyer tastes pushed him to carve the land into separate parcels. Johnston also represented the buyers, the publication reported.
Public Records and Closing Date
Local transaction data show the 1230 South Venetian Way lot closed on March 18, 2026, when 1230 Holdings LLC paid $11 million for the property, according to deal tracker Traded. That sale capped a step-by-step breakup of the larger waterfront spread into smaller pieces that better matched what buyers were actually shopping for over the past year.
Where the Numbers Land
Franklin paid about $35.5 million in June 2021 for the longtime Capó family home at 1230 South Venetian Way, then roughly $13 million a month later for the adjoining lot, for a total of about $48.5 million for the full assemblage, The Real Deal reports. Before unloading the final two lots, he had already sold the subdivided parcels at 1224 and 1228 South Venetian Way for about $8 million and $10.3 million, respectively. In all, his sellout across the four lots comes to roughly $40.8 million, implying an estimated loss of at least $7.7 million on the Miami play.
Franklin's Other Holdings and What Comes Next
Franklin is still in the luxury game on the West Coast, where he is marketing a far larger compound in Beverly Hills. The 3.6-acre estate at 10066 Cielo Drive is listed around $50 million, according to Compass, with agents David Kramer and Andrew Buss on the listing. With the Miami chapter now officially closed, Franklin’s cross-country real estate shuffle is a tidy reminder that even celebrity names are not immune to the whims of timing, taste, and a fast-moving high-end market.
