A vacant plot of land on Miami’s exclusive Palm Island, once home to notorious gangster Al Capone, has hit the market for a staggering $23.9 million (approximately Rs 200 crore), according to New York Post. While the original mansion where Capone lived and died was controversially demolished last summer, the 30,000-square-foot waterfront lot offers potential buyers a unique opportunity.
Douglas Elliman agent Dina Goldentayer, who manages the listing, told NYPost that “this is the opportunity to build what will be one of the best estates in Miami Beach.”
Despite protests from preservationists, the mansion was ultimately torn down, leaving a blank canvas for a future owner.
The listing website defines the property as having an idyllic setting that offers ocean breezes from its preferred positioning on the island, far from the bustling city life. This new Estate Row features mega mansions on the block, surrounded by lush tropical landscaping. With 100 linear feet of water frontage, keep your yacht docked along the property’s edge against the backdrop of Miami’s downtown skyline.
The asking price represents a significant jump from the $10.75 million the property fetched in 2021. Developers who acquired it then flipped it for $14.9 million just weeks later, highlighting the allure of the location and historical significance.
While the Capone connection undoubtedly adds intrigue, the focus now shifts to the potential for a new, luxurious residence. The guard-gated island community boasts opulent mansions and stunning water views, making it a highly desirable address.
The historical mansion where Al Capone is believed to have orchestrated the notorious St. Valentine’s Day Massacre has reportedly suffered damage due to flooding.