The lot where famous gangster Al Capone’s Florida home once stood is on the market for a whopping $23.9 million.
The property on exclusive Palm Island, a man-made island off the coast of Miami, is advertised as a 30,000-square-foot lot that could house a 15,000-person mansion.
Despite the objection of local preservationists, Capone’s house, where he died of a heart attack in 1947 at the age of 48, was torn down last summer.
The land is now presented as an opportunity for an ultra-rich person to build their dream home.
Before its demolition, Capone’s home on the property was an elegant Spanish Colonial-style villa overlooking the sea.
The empty Palm Island lot that just came on the market for about $24 million where famous American gangster Al Capone’s vacation home used to be.
Al Capone’s former home is seen during a tour of the historic home on March 18, 2015 in Miami Beach, Florida.
The American gangster paid $40,000 in 1928 for the house, less than $1 million today.
During Capone’s time at the estate, there was a 60-foot pool with a cabana, a private beach, and a gate.
In 1947, after neurosyphilis rotted Capone’s brain for years, reducing his mental faculties to those of a teenager, he died several days after suffering a stroke.
He is said to have spent his final years at home fishing and playing tennis against a wall while his mind regressed.
Now, the empty waterfront lot, flanked by $50 million homes, has been listed for the first time since 2015 with Douglas Elliman. Dina Goldentayer is the listing agent.
Several years ago, the property, which included the house at the time, 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 of last year much to the chagrin of the Coral Gables Historic Preservation Association, which called the action “nothing short of sacrilege,” according to global mansion.
The Palm Island property is marketed as a spacious lot with ample space for the construction of a dream mansion. Here is a rendering of what a newly built home would look like.
The lot offers 100 feet of waterfront access, perfect for the possibility of building a dock for private marine vessels.
840 SEI*189648967 The infamous gangster Al Capone smokes a cigar on the train that takes him to the federal penitentiary in Atlanta, where he began serving his 11-year sentence.
The lot is surrounded by mansions with equally extravagant prices.
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 was once Capone’s vacation home, which has now been 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 Palm and Hibiscus Islands because of their estate-sized parcels, their security and their proximity to popular destinations,” said Dina Goldentayer, listing agent for the property.
Goldentayer argues that for the property’s super-wealthy potential buyers, the land’s historical ties aren’t actually a primary selling point.
Rather, the security of the guard-gated community, proximity to popular destinations, and lot size are what will ultimately attract buyers.
“Wealthy people have always been attracted to Palm and Hibiscus Islands because of their property-sized plots, their security and their proximity to popular destinations,” he told Mansion Global.
“I think what will attract buyers is the rarity of a parcel of this caliber on Palm Island.”