Al Capone's former Palm Island property for sale at $23.9 million

A plot of land once owned by infamous American mobster Al Capone is on the market at $23.9 million.

Following the controversial demolition of Capone's original Miami mansion last year, the vacant 30,000-square-foot waterfront property presents a rare chance for investment.

Real estate agent Dina Goldentayer described it as an opportunity to create one of Miami Beach's finest estates. Despite preservationist objections, the mansion was razed, setting the stage for new development.

The property features stunning ocean views, a serene atmosphere away from city noise, and is in a neighborhood of ultra-luxurious homes. It includes 100 feet of waterfront with space to dock a yacht and offers views of Miami's skyline.

Value has soared since 2021 when it sold for $10.75 million and quickly resold for $14.9 million. While Capone's legacy adds allure, the site's real appeal lies in its potential for a new, extravagant home in a secure, elite enclave.

The site's previous structure, a mansion linked to the St. Valentine's Day Massacre, was damaged by flooding before its demolition.