The land where the Florida The home of famous gangster Al Capone is for sale with an asking price of $23.9 million.
The property located on exclusive Palm Island, an artificial island off the coast of Miami, is billed as a 30,000-square-foot plot of land that could accommodate a 15,000-person mansion.
Over the objection of local preservationists, Capone’s home, where he died of a heart attack in 1947 at the age of 48, was demolished last summer.
The land is now being touted as an opportunity for an ultra-wealthy individual to build their dream home.
Before its demolition, Capone’s home on the property was an elegant Spanish Colonial-style villa with waterfront views.
The empty Palm Island land that has just come on the market for some $24 million, where the vacation home of famous American gangster Al Capone was located.
Al Capone’s former home is seen during a historic home tour on March 18, 2015 in Miami Beach, Florida.
The American gangster paid $40,000 in 1928 for the house, which is less than $1 million today.
Back when Capone was at the estate, there was a 60-foot swimming pool with a cabana, a private beach and a gatehouse.
In 1947, after neurosyphilis had rotted Capone’s brain for years, reducing his mental faculties to those of a teenager, he died days after suffering a stroke.
He is said to have spent his final years at home fishing and playing tennis alone against a wall as his mind regressed.
Today, the empty waterfront lot, flanked by $50 million homes, was listed for the first time since 2015 with Douglas Elliman – Dina Goldentayer is the listing agent.
Several years ago, the property, which at the time included the house, was sold by developer Todd Michael Glaser and a business partner to the current owner for $15.5 million.
The current owner, who made the decision to raze the house, is listed only as an LLC.
Capone’s house was demolished in August last year, much to the chagrin of the Coral Gables Historic Preservation Association, which called the action “nothing short of sacrilege,” according to World Manor.
The property on Palm Island is marketed as a spacious plot of land with enough space to build a dream mansion. Here’s a look at what a newly built home might look like.
The land offers 100 feet of waterfront access, perfect for the possibility of building a dock for one’s private vessels.
840 SEI*189648967 Famous gangster Al Capone smokes a cigar on the train transporting him to the Atlanta federal penitentiary where he began serving his 11-year sentence.
The land is surrounded by equally extravagantly priced homes
American gangster Al Capone (“Scarface”) (1899 – 1947) relaxes at his vacation home, Miami, Florida, 1930 – the house where the empty lot now stands
An aerial shot shows what Capone’s vacation home once was, now demolished.
The pool cabana is seen during a tour of Al Capone’s former home on March 18, 2015 in Miami Beach, Florida
“Wealthy individuals have always been attracted to the Palm and Hibiscus Islands because of their estate-sized parcels, security and proximity to popular destinations,” said Dina Goldentayer, the listing agent of the property.
Goldentayer argues that, for the property’s ultra-wealthy potential buyers, the land’s historical ties aren’t really a main selling point.
Rather, it is the security of the gated community, proximity to popular destinations and the size of the lot that will appeal to buyers.
“High net worth individuals have always been attracted to the Palm and Hibiscus Islands due to their estate-sized plots, security and proximity to popular destinations,” she told Mansion Global.
“I think what will attract buyers is the rarity of a parcel of this caliber on Palm Island.”