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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RIVANI Acquires $23 Million Palm Island Waterfront Estate, Plans Landmark Multi-Million Transformation

Robert Rivani, Founder of disruptive real estate firm RIVANI, has acquired a premier waterfront estate on Miami Beach’s exclusive Palm Island for $23 million. The property is set to undergo a multi-million-dollar transformation into one of the island’s most prestigious private residences.

Located at 16 Palm Avenue, the estate spans a 35,348-square-foot lot that showcases approximately 220 feet of prime, south-facing waterfront capable of accommodating yachts up to 205 feet. Set within the coveted, police-guarded Palm Island community, the property offers a rare blend of privacy, security, and unobstructed bay views.

“Our vision is to create a legacy property that is timeless and exceeds the expectations of today’s luxury buyer on every level,” said Robert Rivani, Founder of RIVANI. “Our commitment to uncompromising quality and transformative luxury spaces is reflected in all of our projects, and will be incorporated into every aspect of this home.”

Drawing influences from the world’s finest resorts and properties, Rivani will reimagine the estate as a South of France-inspired sanctuary blending the timeless elegance of the Mediterranean layered with architectural intimacy and the distinctive character of Miami. The design will incorporate the highest caliber organic materials and finishes, taking cues from the bay and lush outdoors with every element thoughtfully executed to deliver an exceptional living experience.

Dina Goldentayer of Douglas Elliman represented Rivani for the transaction, while Luis Bosch of Venetian International held the listing.

“Originally listed at $32.5 million, Robert acquired this estate at a significant discount, a testament to his ability to identify undervalued properties and unlock their true potential,” said Goldentayer. “The property has it all–scale, pedigree, location, and breathtaking water frontage—all exceedingly rare in Miami’s highly competitive luxury market. With Robert’s visionary approach, it’s destined to become a true legacy estate.”

RIVANI continues to disrupt traditional real estate by transforming hospitality, retail, and office properties into vibrant, lifestyle-driven destinations. With over $1 billion in real estate transactions executed independently, the firm’s portfolio includes an iconic roster of projects including a landmark ‘Class X’ luxury office building The RIVANI on Miami Beach, which attracted Playboy Enterprises as a marquee penthouse tenant. The firm is also behind the recent $37 million acquisition of the historic Lincoln Theatre building, acclaimed waterfront destinations including the upcoming GAIA, and the fully leased Wynwood Jungle and 325,000-square-foot regional power shopping center The Gardens in New Jersey.

Images via Legendary Productions/ Dina Goldentayer

For more information about RIVANI or to inquire about purchasing a home on Palm Island please fill out the form below:

Waterfront Palm Island Estate Designed By Caesar Molina Hits Market For $48.5 Million

A waterfront estate on Miami Beach’s Palm Island has hit the market for $48.5 million. The tropical modern waterfront mansion is designed by renowned architect Caesar Molina and spans nearly 15,000-square feet of stunning amenities and unparalleled, museum-like interiors furnished by Artefacto.

Located at 40 Palm Ave., the newly built home features a double-sided water feature which welcomes you upon entrance into the eight bedroom, nine full and four half bathroom estate. Thoughtfully curated with luxury in mind, find a rare full size rooftop terrace is accessible by stairs or elevator with immaculate views of Miami’s most coveted views.

The primary bedroom features a massive closet, wet bar plus a terrace with a private plunge pool. The kitchen showcases Mia Cucina cabinetry, Wolf + Subzero appliances. Additional features include a state-of-the-art home theatre, gym with steam and sauna, a four-car electric garage and detached upstairs guest house.

Outside, the backyard features a spacious infinity edge pool, patio with grill, and a private boat dock offering 100 feet of water frontage.

40 Palm Ave is listed for $48.5 million with Liz Hogan of Compass.

Images via Become Legendary

New Construction Palm Island Spec-Mansion Sells For $32 Million Setting Record As Most Expensive Sale Ever On Palm Island

A recently completed tropical modern spec-mansion on Miami Beach’s exclusive Palm Island has sold for a record $32 million, ringing in as the most expensive sale ever on the island. The buyer Ron Ozer who is CIO of hedge fund Statar Capital and the seller was real estate developer William Campbell. The buyer was represented by David Pullman with The Waterfront Team at ONE Sotheby's International Realty, while the seller was represented by Lourdes Alatriste with Douglas Elliman. The home was most recently listed for $39.9 million at the time of sale with Alatriste and was listed for as high as $51.9 million during construction.

Located on a .7 acre lot at 158 Palm Ave., the new construction home spans 14,000 + SF of oceanfront with 7 bedrooms and 10 bathrooms. The main residence features 6 bedrooms while a detached 5 car garage offers a 2nd floor guest suite. The residence features multiple living spaces with water views and telescoping glass sliding doors to blend indoor/ outdoor living. The home also features an office, movie theater, an oversized chef's kitchen, a 2nd floor balcony spanning the entire home with access to a rooftop balcony and a stunning primary suite with a lavish master bath complete with a soak-in tub. The outside provides a tropical oasis with infinity pool, summer kitchen and 100' water frontage with a private dock offering stunning bay and skyline views.

Images via Luxhunters

30 Palm Avenue On Miami Beach's Famed Palm Island Hits The Market For $43 Million

A contemporary estate located at 30 Palm Ave. on Miami Beach’s famed Palm Island has hit the market for $43 million. Magnificently redesigned, the 2-story waterfront estate on guard-gated Palm Island is situated on a manicured 32,000-square-foot lot, offering 100 feet of sparkling waterfront on Biscayne Bay. The 13,144-square-foot bright and airy gated residence features nine bedrooms (including two staff rooms), eight bathrooms, and one half-bathroom. The residence is being sold furnished and is listed with Jill Eber and Jill Hertzberg of The Jills Zeder Group, affiliated with Coldwell Banker Realty in Florida.

“This stunning modern waterfront home located in the prestigious estate section of guard-gated Palm Island is ideal for a family or couple wanting incredible amenities as well as an amazing estate-sized lot,” said Jill Eber of The Jills Zeder Group. “The property’s southern exposure provides natural light to flow through tall walls of glass into the home to enjoy true indoor-outdoor, luxury living at its finest.”

30 Palm Ave. features distinctive features include large plank rich hardwood floors, an interior elevator, pet room, full waterfront gym, movie theater with 11 comfortable leather recliners and a 132” projection screen, and an additional second-floor family/media room plus waterfront recreation room.

The residence offers an expansive living room and dining area boast soaring ceilings, are separated by a custom-built stone wall for privacy, and lead to a beautiful family room. The gourmet kitchen features a black granite center island, countertops and backsplash; top-of-the-line Wolf gas range, two Sub-Zero refrigerator/freezers, custom cabinetry, a butler’s pantry, and industrial-sized walk-in freezer.

The private second-floor principal suite is surrounded by walls of glass, and features a large private terrace overlooking the pool deck below with views to the water. The principal bathroom boasts exquisite Carrara marble walls and floors, a full walk-in rain shower with dual shower heads, sunken spa tub with water jets, and separate water closets. The additional eight bedrooms are spacious and uniquely designed.

The tropical outdoor area features a large pool with a Jacuzzi, coral stone-paved pool deck, professionally designed landscaping with tropical plants and soaring palms, full outdoor lighting, comfortable covered seating areas, a summer kitchen and capturing views to the downtown skyline. The residence also features a private 100-foot IPE wood dock that can accommodate a large vessel, and direct access to Biscayne Bay and the Atlantic Ocean. The home offers parking space for 12 cars, as well as a 4-car garage.

Located just south of Hibiscus Island, Palm Island is a man-made island in Biscayne Bay. The entire island encompasses 82 acres and offers amazing vistas of the downtown Miami skyline and breathtaking sunset views. It is ideally located just minutes from downtown Miami, Miami Beach and the beaches, fine dining and shops, cultural venues, the Design District, prestigious schools and Miami International Airport.

“Palm Island is one the most sought-after residential locations in South Florida,” said Jill Hertzberg of The Jills Zeder Group. “Embodying the pinnacle of South Florida waterfront luxury living, this exclusive island beckons with breathtaking views and proximity to the best attractions and schools Miami has to offer.”

Images via 1OAK Studios

Check Out This Waterfront Spec Mansion On The Blazing Hot Palm Island Which Just Sold For $29.5 Million

A waterfront spec home on Miami Beach’s prestigious Palm Island has sold for $29.5 million as real estate on the island continues to push higher. Located at 135 Palm Ave, the new construction home was developed by Sabal Development and was listed with Jeff Miller of ONE Sotheby’s International Realty and Mathieu Rochette of Compass, who represented the seller. The buyer was represented by Liz Hogan with Compass.

The agents involved in the deal have completed several high-profile transactions on the island in the past few years. Miller sold 73 Palm in 2019 for $24.5 million while Hogan has sold 3 homes on the island over $25 million this month, including 94 Palm for a record $30 million and 370 S Hibiscus for $26.5 million.

The new construction modern 8 bedroom, 8.5 bathroom home features vast open living spaces tastefully furnished by world renowned brand Roche Bobois and seamlessly integrating indoor/outdoor living and entertaining. A spacious 1st floor features an open chef and prep kitchens, formal and informal dining rooms, movie theatre and guest suite. Upstairs offers a custom glass staircase or elevator and Master Suite with sweeping water views and an open flow with dual vanities and showers, floating tub, custom walk-in closets and midnight bar. The secluded backyard features an infinity-edge marble pool and jacuzzi, summer kitchen and cabana with sauna overlooking 100’ of water frontage. The property also features a guest House, 6 car garage, SAVANT smart- home, and rooftop lounge.

Miami’s ultra-luxury waterfront real estate market has been on fire lately. On Palm Island boxing legend Floyd Mayweather recently purchased a waterfront mansion for $18 million. Dreampact Ventures co-founder Fued Sadala purchased 9814 West Broadview Drive in the Bay Harbor Islands for $12 million, a record for a waterfront sale in the neighborhood; famed musician and producer partners Emilio and Gloria Estefan sold their Star Island “guest estate”for $35 million; real estate investor Andrew Mirmelli recently closed on a Hibiscus Island home for $21 million before immediately listing it for $30 million; spec home developer James Curnin sold his Modern Farmhouse on Allison Island for $13,875,000; and the Miami-Dade record for most expensive home was broken with the currently under construction 3488 Saint Gaudens Road in Coconut Grove selling for a record $65 million.

Images via Jeff Miller, ONE Sotheby’s International Realty

Boxing Legend Floyd Mayweather Buys Palm Island Waterfront Mansion For $18 Million

Boxing legend Floyd Mayweather has dropped $18 million on a waterfront mansion on Miami Beach’s prestigious Palm Island. Mayweather closed on 288 South Coconut Lane on Palm Island nearly one year after he sold his home on Miami Beach’s Pine Tree Drive in October 2020 for $6.3 million. 288 South Coconut Lane was listed for $19.9 million with Dina Goldentayer of Douglas Elliman and Tanasha Pettigrew of Galleria International Realty represented Mayweather.

288 South Coconut Lane was developed in 2011 and offers 9-bedrooms, 10.5 bathrooms spread over 10,853 SF. The home was designed by Ramon Pacheco of Pacheco Architecture and features a gym, chef’s kitchen, dining room, master-suite with views of Biscayne Bay and parking for up to 10-cars. The lavish home also features a landscaped roof deck, private dock, pool and unobstructed views of Downtown Miami’s skyline and Port Miami.

Miami’s ultra-luxury waterfront real estate market has been on fire lately. Recently Dreampact Ventures co-founder Fued Sadala purchased 9814 West Broadview Drive in the Bay Harbor Islands for $12 million, a record for a waterfront sale in the neighborhood; famed musician and producer partners Emilio and Gloria Estefan sold their Star Island “guest estate”for $35 million; real estate investor Andrew Mirmelli recently closed on a Hibiscus Island home for $21 million before immediately listing it for $30 million; spec home developer James Curnin sold his Modern Farmhouse on Allison Island for $13,875,000; and the Miami-Dade record for most expensive home was broken with the currently under construction 3488 Saint Gaudens Road in Coconut Grove selling for a record $65 million.

Images via Douglas Elliman

Tropical Modern Palm Island Spec Home Designed By Choeff Levy Fischman Sells For $20.5 Million

 A tropical modern mansion on Palm Island designed by Choeff Levy Fischman has sold for $20.5 million. Located at 19 Palm Avenue, the two-story home spans 9,386 square-feet complete with a $500,000 custom Fendi kitchen. Dina Goldentayer of Douglas Elliman represented the sellers and Ivan Chorney and Michael Martinera of Compass represented the buyers. Dean Carr, an investor from London, and his wife Melissa Carr, sold the home to a California family.

19 Palm Avenue is one of Miami Beach's most opulent new residences and leaves you in awe the moment you step onto its lavish motor court. Boasting a colossal cascading water feature and British-made automobile rotating turntable, the private driveway also includes an outdoor stairway and a three-car garage with lift capacity concealed by rich Timura wood. The home's exterior façade also features gray limestone to create a warm aesthetic.

The residence offers six bedrooms and seven and a half bathrooms. The home offers large living spaces in an open-concept format that includes floor-to-ceiling sliding glass doors that open up to the rear deck, blending the indoors with the outdoors.

A focal point of 19 Palm Ave. is home's interior is a stunning 460 square foot open-air atrium with floating steps that take you across a shallow pool of water. Additional soul-soothing reflecting ponds and cascading water features are spread throughout the property on all four sides of the residence to emphasize its waterfront location.

The master-suite is another highlight of the home, spanning 1,490 square feet and overlooking Biscayne Bay on one side with the glass atrium on the opposite end. Complete with separate custom Ornare closets with Cavalli wall coverings, the master suite also boasts a midnight kitchen, a sitting lounge, and a fireplace. Two spacious bathrooms feature exotic floor-to-ceiling marble, and each comes with a seamless glass zero-edge spa shower with steam and scent ventilation. One of the master suite bathrooms also includes a bespoke vanity and a standalone floating Boffi tub. Cantilevered wood ceilings shade the room's private balcony, which also consists of a glass railing to provide unobstructed northeastern waterfront views.

19 Palm Ave.’s second level also includes an atrium-facing pajama lounge where the family can relax in a private setting away from the traffic of the ground level. Additional amenities include a fully integrated Savant home automation technology system and one of the largest residential-grade elevators. Located above one of the home's reflecting ponds, it provides access to three levels, including the private rooftop.

Outside, the home's infinity-edge pool is accentuated by a sleek three-sided Lautner knife-edge deck creating a visually seamless plane of water without any distinction of a pool wall. The fourth side creates the illusion that the edge vanishes into the bay. Adjacent to the pool, the architects incorporated a sunken living room element with custom seating that surrounds a fire pit on three sides. The home's outdoor deck incorporates a shaded cabana with separate bath, dining, bar, and kitchen with a spiral staircase that leads up to a rooftop lounge ideal for sunbathing.

Check Out This Recently Listed Choeff Levy Fischman-Designed Palm Island Estate Asking $23.5 Million

Designed by award-winning architects Choeff Levy Fischman, the opulent 19 Palm Avenue on Miami Beach’s Palm Island has listed for $23,500,000. The 9,600 SF residence leaves you in awe the moment you step onto its lavish motor court, boasting a colossal cascading water feature and British-made automobile rotating turntable. The private driveway also includes an outdoor stairway and a three-car garage with lift capacity concealed by rich Timura wood.

The two-story 6 bedroom 7.5 bath estate, designed in the architect's famed Tropical Modern architectural style, provides large living spaces in an open-concept format. The home features floor-to-ceiling sliding glass doors that open up to the rear deck, blending the indoors with the outdoors.

The residence's first floor is designed to offer a seamless transition from room to room. A custom Italian-made wall panel conceals a built-in television and grand wood louvers subtly denote the living room entrance. A floor-to-ceiling gas fireplace with bespoke brass paneling and LED light allows for privacy between the dining room and the central $500,000 gourmet kitchen by Fendi with chocolate lacquer floor-to-ceiling cabinetry and champagne leather paneling. The primary wing also features a separate entertainment lounge with a and luxurious black and gold paneled bar for elegant evenings. The home's second level also includes an atrium-facing pajama lounge where the family can relax in a private setting away from the traffic of the ground level.A focal point of the home's interior is a stunning 460 SF open-air atrium with floating steps that take you across a shallow pool of water. Additional soul-soothing reflecting ponds and cascading water features are spread throughout the property on all four sides of the residence to emphasize its waterfront location.

Outside, the home's infinity-edge pool is accentuated by a sleek three-sided Lautner knife-edge deck creating a visually seamless plane of water without any distinction of a pool wall. The fourth side creates the illusion that the edge vanishes into the bay. Adjacent to the pool, the architects incorporated a sunken living room element with custom seating that surrounds a fire pit on three sides. The home's outdoor deck incorporates a shaded cabana with separate bath, dining, bar, and kitchen with a spiral staircase that leads up to a rooftop lounge ideal for sunbathing.

19 Palm Avenue is currently listed for $23,500,000 with Dina Goldentayer of Douglas Elliman.

Images via LPG/Douglas Elliman

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.

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