93 Palm, Al Capone's former Miami Beach estate located on the prestigious Palm Island has hit the market after undergoing recently completed restoration for $14.9 million. The sprawling estate of the legendary prohibition-era gangster was meticulously restored to much of its original splendor following an extensive restoration in 2015 by Miami-based wealth and investment management company MB America.
“The illustrious history and prime location of this residence cannot be overstated,” said list agent Nelson Gonzalez, Senior Vice President Nelson Gonzalez of EWM Realty International. “Nearly 100 years later, this home is truly a rare gem on the water.”
According to public record, Al Capone bought the home in 1928 following a stint at Alcatraz. He reportedly went so far as to spend $200,000 (at that time) to install a gatehouse, seven-foot-high wall, search lights, a cabana and coral rock grotto. The home remained in his family until 1952 when it was sold by his wife, Mae Capone.
The colonial-style, 30,000 SF property, which was built in 1922, features 100' of waterfront on Biscayne Bay. The lush secluded property, dotted with century-old trees, is anchored by a four-bedroom, three and a half-bath main villa. Some of the original features include the black-and-gold Art Deco powder room, 1920’s ceiling lights, the fireplace in the living room, and the porch. French doors, hardwood floors, columns, open archways, and multi-pane, double-hung windows complete the timeless appearance of the interiors.
Outside, a 30' by 60' pool sits adjacent to a stately two-story cabana, which comprises a water-facing terrace and a half-bath on the first level, and one bedroom and a full bath with a glittering tile mosaic on the second. The original gatehouse, located at the front of the property, has furthermore been converted into a two-bedroom, one-bath guesthouse.
“This is one of the most significant estates in South Florida, now on the market for the first time since its restoration,” said Gonzalez. “The attention to detail by MB America has preserved the home’s unique 1920’s attributes, yet its slew of modern conveniences and top-of-the-line amenities make it a lucrative draw for well-heeled buyers.”
