Former Site of Al Capone's Historic Palm Island Estate Sells For $21 Million

The former site of Al Capone’s longtime Miami Beach estate has traded for $21 million, marking the latest chapter for one of the city’s most historically recognizable residential properties.

Located at 93 Palm Avenue on Palm Island, the now-vacant waterfront property features 100 feet of frontage on Biscayne Bay. The site was previously home to the sprawling estate once owned by the notorious Prohibition-era crime boss before the residence was demolished in 2023.

The $21 million transaction represents a significant increase from the property's previous $15.5 million sale price.

According to public records, Jordan Karp of Jordan Karp LLC and Joel Lusky of The Brokerage South Florida represented the seller in the latest transaction. Mirce Curkoski and Albert Justo of ONE Sotheby’s International Realty represented the buyer.

Beyond its waterfront location, the property carries a distinctive place in Miami Beach history because of its connection to Capone. According to public records previously reported by PROFILEmiami, Capone acquired the Palm Island estate in 1928.

The original Colonial-style residence was built in 1922 and was part of an approximately 30,000-square-foot home. After acquiring the estate, Capone reportedly invested approximately $200,000 at the time into improvements that included a gatehouse, seven-foot wall, searchlights, cabana and coral rock grotto.

The property remained with the Capone family for decades. Following his ownership, the estate remained in the family until 1952, when it was sold by his wife, Mae Capone.

More than 70 years later, the century-old residence was demolished in August 2023 following a prolonged debate surrounding its potential historic preservation and vulnerability to flooding.

The demolition followed a change in Florida law that limited the ability of local preservation authorities to prevent owners from demolishing certain single-family homes in designated flood zones or properties situated below base flood elevation when the owner opposed historic designation.

Check out PROFILEmiami’s tour of the original residence before demolition.

Previous owners and developers had maintained that the aging residence was approximately three feet below sea level, experienced recurring flooding and required substantial repairs. Following the change in state law, the Miami Beach Historic Preservation Board canceled a scheduled evaluation hearing after losing jurisdiction over the property under the new regulations.

With the historic residence now gone, 93 Palm Avenue represents a vacant waterfront development opportunity on Palm Island, pairing 100 feet of Biscayne Bay frontage with a location tied to one of the most infamous figures of the Prohibition era.

The latest $21 million sale effectively begins another chapter for the property nearly a century after Capone first acquired the Miami Beach estate.

Images via PHOTOSTETIC

Past PROFILEmiami articles about homes on Palm, Hibiscus & Star Island:

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Tory Burch Co-Founder Lists Lavish Miami Beach Estate For $49 Million

Christopher Burch, the co-founder of fashion brand Tory Burch and founder and CEO of Burch Creative Capital, has listed his lavish estate on Miami Beach’s prestigious North Bay Road for $49 million. The classic post-modern design showcases an air of timeless sophistication, find meticulously crafted living spaces, eight bedrooms and eight full plus two half bathrooms, that reflect South Florida living to its core.

Stepping into the main house, the wood paneling throughout evokes a sense of warmth and coziness. Within the interiors, impeccable detailing can be found in every room from the embroidered curtains and trimming to the furnishing and artwork. The layout includes four bedrooms with the master situated upstairs along with two additional rooms. Vaulted ceilings coupled with two closets and two bathrooms create a sense of luxuriously appointed privacy. There is another spacious bedroom downstairs that could serve as an alternate primary. Find a kitchen featuring a large dining area, separate prep kitchen, breakfast nook, and a dedicated butler’s pantry with a rotisserie oven. Several lush courtyard areas infuse a sense of tranquility into the space.

The guest house spanning 1,500-square feet features two separate entrances that can be configured as four bedrooms – in its current state it is situated as two separate bedrooms with one living area each.

Beyond the walls, find perfectly manicured grounds adjacent to the wide-open views of Biscayne Bay and 139 feet on the water complete with an oversized dock. A backyard pool offers an entertaining area with a covered pizza oven and grill. The pool on the side of the house boasts a steam and sauna, cold plunge and hot tub.

5050 N Bay Road is listed for $49 million by Mirce Curkoski and Albert Justo with ONE Sotheby’s International Realty.

Images via The Waterfront Team / ONE Sotheby’s International Realty

Sunset Islands Waterfront Home Trades For $11.5 Million In Off Market Deal

A waterfront home on Miami Beach’s Sunset Island III, located at 1775 West 24th St., has sold in an off market deal for $11.5 million, roughly $3,546 PSF. The buyer was represent by Mallory McGuire and Mirce Curkoski of The Waterfront Team at ONE Sotheby’s International Realty and the seller was represented by Jacqueline Groll and Albert Justo also of The Waterfront Team at ONE Sotheby’s International Realty. The existing 3,243 SF home sits on a 13,125 SF lot and will be demolished to make way for a new home.

The Sunset Islands, a set of four luxurious residential islands located just off of South Beach next to Sunset Harbour, have been a hotspot for luxury development and transactions. Recently Andian Development acquired 1415 North View Drive for $13.9 million with plans to renovate the home. In December Shlomy Alexander, Felix Cohen and Julian Cohen sold a spec home they developed at 1825 West 24th Street for a Sunset Island record $25 million, $3,811 PSF. Developer James Curnin sold a spec home at 1757 West 27th Street for $24.8 million to foamier Goldman Sachs exec Don Mullen and Kawa Capital Management co-founder Alexandre Saverin and his wife sold their home at 1617 West 22nd Street on Sunset Island IV for $13 million.

Chris Bosh's Former North Bay Road Estate Sells To Crypto Industry CEO Of MoonPay For $38 Million

Ivan Soto-Wright, the co-founder and CEO of crypto payment system MoonPay, has acquired Miami Heat icon Chris Bosh’s former Miami Beach estate on North Bay Road for $38 million. MoonPay is a London-based online payment system for cryptocurrencies which just recently MoonPay hit a $3.4 billion valuation following a new $555 million funding round led by Tiger Global Management and Coatue. Albert Justo and Mirce Curkoski with The Waterfront Team at One Sotheby’s International Realty were the listing agents and Dina Goldentayer of Douglas Elliman represented the buyer. No comment has been made about the method and terms of transaction.

Bosh sold the same home in January 2021 for $14.4 million to AquaBlue Group, led by Philippe Harari, who would renovate the home before relisting it for $42 million and selling to Soto-Wright for $38 million. The massive price increase reflects the strong demand for waterfront real estate in Miami.

Upon arrival into the lushly landscaped property, guests will be greeted by a living green wall and a garden courtyard area with water installations that highlight the home's perimeter. The gut-renovated home features seven bedrooms and eight bathrooms, with wood and stone finishes throughout. The double-height great room is surrounded in glass, highlighting the captivating views of the bay and garden. Each corner of the home is intentionally and perfectly positioned to flow seamlessly together with high-end finishes from custom millwork to Italian marble slabs.

The grand master suite offers large closets, oversized bathroom with tub and dual sinks, morning kitchen and of course, stunning views. The kitchen features a custom Italian expansive chef’s kitchen with a huge island. The outdoors offers a mosaic tile infinity pool, a detached outdoor kitchen and cabana bathroom plus a separate guest quarters. The fully automated smart home also features a commercial-grade elevator and more.

Celebrity neighbors include Cindy Crawford and Rande Gerber, Karlie Kloss and Joshua Kushner, with former star owners including Dwyane Wade and Gabrielle Union. The home is seeking an overall record, but still lower price per square foot ($3,500) when compared to other recent sales like the sale of Phil Collins and Jennifer Lopez’s former home at 5800 North Bay Road which sold for $39 million at about $4,000 per square foot.

Imagery via ONE Sotheby’s International Real Estate

Miami Heat Icon Chris Bosh's Former North Bay Road Estate Hits Market For $42 Million

Seeking a record price at $42 Million, the estate formerly owned by Miami Heat star Chris Bosh is the only move-in-ready residences available on the prestigious North Bay Road. Celebrity neighbors include Cindy Crawford and Rande Gerber, Karlie Kloss and Joshua Kushner, with former star owners including Dwyane Wade and Gabrielle Union. The home is seeking an overall record, but still lower price per square foot ($3,500) when compared to other recent sales like the sale of Phil Collins and Jennifer Lopez’s former home at 5800 North Bay Road which sold for $39 million at about $4,000 per square foot. Bosh sold the same property now seeking $42 million in January 2021 for $15.2 million, the massive price increase reflecting the strong demand for waterfront real estate in Miami.

Upon arrival into the lushly landscaped property, guests will be greeted by a living green wall and a garden courtyard area with water installations that highlight the home's perimeter. Developed by AquaBlue Group and conceptualized by Touzet Studio, the gut-renovated home features seven bedrooms and eight bathrooms, and a cozy modern atmosphere created with wood and stone perfectly placed throughout. The double-height great room is surrounded in glass, highlighting the captivating views of the bay and garden. Each corner of the home is intentionally and perfectly positioned to flow seamlessly together with high-end finishes from custom millwork to Italian marble slabs.

The grand master suite is as lavish as they come with large closets, oversized bathroom with tub and dual sinks, morning kitchen and of course, stunning views. The kitchen is a host and hostesses dream with a custom Italian expansive chef’s kitchen with a huge island.

The outdoor oasis features a mosaic tile infinity pool, a detached outdoor kitchen and cabana bathroom plus a separate guest quarters. The fully automated smart home also features a commercial-grade elevator and more.

6396 North Bay Road is listed for $42 million by Albert Justo & Mirce Curkoski with The Waterfront Team at ONE Sotheby’s International Realty.

Pablo Escobar’s Former Miami Estate Sells For Nearly $11 Million

Waterfront property once inhabited by Colombian drug lord Pablo Escobar has sold for $10.95 million located in Miami Beach on North Bay Road. U.S. authorities seized Escobar’s infamous pink house in 1987 and the seller, Chicken Kitchen founder Christian de Berdouare, bought it from a private owner in 2014 for $9.65 million. The property was listed by Mirce Curkoski and Albert Justo with ONE Sotheby’s Waterfront Team and the buyer was represented by Brett Harris with Douglas Elliman. Renderings have been released to build a beautiful modern home on the lot and plans have been submitted to the city awaiting approval. 5860 North Bay Road is 30,000 sq.ft. with 150 feet of water frontage and downtown views.

The estate made waves in 2016 when a locked safe was found in the debris following the demolition of Escobar’s home. Excavators found the 700 pound safe as they knocked down the home’s walls. At the time de Berdouare said that the safe will remain locked in a bank vault until he finished filming a documentary about Escobar’s link to the property.

Check Out This Choeff Levy Fischman-Designed Palm Island Mansion Which Just Sold For $24.57 Million

73 Palm Ave. located on Miami Beach’s prestigious Palm Island and designed by Choeff Levy Fischman, has been sold for $24.57 million. The tropical modern mansion offers 9-bedroom and 10.5-bathrooms spread over 14,200 SF with a large rooftop terrace and water views. The home was listed with Mirce Curkoski and Albert Justo of ONE Sotheby’s International Realty and the buyers agent was Jeff Miller of Brown Harris Stevens.

The home was designed by Raphael Levy and Ralph Choeff of Choeff Levy Fischman Architecture + Design with indoor-outdoor living through vast opening sliding glass doors and wide-open interior and exterior spaces that blur the separation between interior and exterior environments. The architects also designed a cascading water feature located before you enter the home that empties into a reflecting pond that has stepping-stones over it so it appears as if you’re walking on water. Other features include a floating three-story stairs off the entry that create a sculptural feel and vertical wood elements throughout the homes interior and exterior.

The interiors were designed by Charlotte Dunagan and Philippe Harari and furnished throughout with Minotti and Poliform, amongst others. 73 Palm features a custom Italian kitchen, home theater, wine cellar, vast open living areas and a private elevator. The large master suite is one of the highlights of the house with water views, a large terrace with private hot tub, and a master bath that features a shower and tub area that appears to be floating in the master bath with full visual connection to an exterior bamboo garden giving that area light and privacy.

Outside the grounds are stunningly landscaped by Mauricio Del Valle with over 100’ of water-frontage, a gazebo with summer kitchen and multiple sitting areas. A waterfront infinity edge pool flows into shallow water that becomes a reflecting pond that wraps around an island that has lounge seating .The shallow water continues to the rear slider at the interior lounge to make it appear as if the water enters the interior of the residence once the sliders are fully open.

73 Palm is also full of sustainable green features including very high SEER air-conditioning units, large vast opening sliding doors, LED lighting, insulated glass and lots of glass for natural light in order to eliminate turning on the lights in many areas during the daytime. The home is also outfitted with a Creston automated smart home system.

For more information about homes on Palm Island, private showings or purchasing/ leasing information please fill out the form below:

Tour An Iconic Pine Tree Drive Mansion With A Zoo Of Art Asking $9.9 Million

An iconic Miami Beach mansion on the prestigious Pine Tree Drive which is surrounded by a zoo of art has hit the market asking $9.9 million. The classic home was built in 1938 and is a Mimo architectural masterpiece given a modern twist with decorative animal sculptures matched with colorful interiors and designs by renowned architect Igor Polevitzky. The zoo of art features an 8-foot tall pink snail made of recyclable plastic, a family of colorful lemurs guarding the homes entrance, and a giant pink alligator living out back by the water. The home itself offers 8-bedrooms and 9-bathrooms spread over 8,307 SF. The mansion also features a gourmet kitchen with Italian walnut cabinetry, a theater room, an expansive master suite, a sauna, a waterfront pool, 140-feet of waterfrontage on Indian Creek, two attached and detached guest quarters, a summer kitchen and a 3-car garage.

6301 Pine Tree Drive is currently listed for $9,900,000 with Daniela Fernandez and Albert Justo & Mirce Curkoski with The Waterfront Team of ONE Sotheby’s International Realty.

Photos via Lifestyle Production Group for ONE Sotheby’s International Realty

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Check Out This North Bay Road Miami Beach Mansion Complete With A Private Tennis Court

One of the largest non-waterfront properties in Miami Beach has hit the market with 4 combined lots, offering nearly 40,000 SF of space on the prestigious North Bay Road and asking $5.995 million. The home is a classic masterpiece offering 7 bedrooms and 5.5 baths spread over 6,309 SF. The classic design was meticulously restored and matched with stunning finishes throughout the interiors including exposed beam ceilings in the living room. Additionally the home features a large master suite, home office, tall cathedral ceilings, bar, and formal dining area. The gated compound is fully surrounded by lush landscaping for complete homeowner privacy and also features a large outdoor pool and private tennis court.

5185 North Bay Road is listed for just $5.995 million by Mirce Curkoski & Albert Justo with The Waterfront Team of ONE Sotheby’s International Realty.

Photo Credit: The Waterfront Team for ONE Sotheby’s International Realty

For more information about 5185 North Bay Road, Miami Beach, FL, private showings or purchasing/ leasing information please fill out the form below:

Explore This Classic Pine Tree Drive Miami Beach Estate On Indian Creek Asking $13.75 Million

You can now become DJ Khaled’s neighbor on Pine Tree Drive for $13.75 million. The classic estate located at 4745 Pine Tree Drive in Miami Beach has not shortage of celebrity neighbors including Floyd Mayweather & DJ Khaled, who just recently purchased a house a few doors down.

The sprawling mansion sits on an acre of land and features nearly 7,000 SF, spread over 12 bedrooms, 9.5 baths, 3 detached guest houses and a long driveway surrounded by royal palms, which create a dramatic entrance to the home. The interiors feature large rooms, formal dining, a library, gourmet chef’s kitchen & a grand salon. Outside the estate offers sweeping views of Miami Beach, a vast outside lounge area and 100’ feet of water frontage plus an infinity pool with fountains.

4745 Pine Tree Drive is currently listed for $13,750,000 million with Mirce Curkoski & Albert Justo of The Waterfront Team with ONE Sotheby’s International Realty.

Photos via The Waterfront Team of ONE Sotheby’s

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