MIAMI BEACH, Fla. – The Miami mansion of Al Capone, once fated to be demolished, just sold for $15.5 million.
The Miami Herald reported Tuesday that the home was sold to to 93 Palm Residence LLC, managed by Coral Gables accountant Toni Alam.
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Capone, the original “Scarface,” bought the waterfront house for $40,000 in 1928. He died there in 1947 of a heart attack.
Developer Todd Michael Glaser and partner Nelson Gonzalez, senior vice president of Berkshire Hathaway HomeServices EWM bought the residence in August for $10.75 million with plans to demolish it and replace it with a more modern project. But preservationists in Miami Beach balked at their plans.
Glaser said the offer came out of the blue and compared it to a winning lottery ticket.
“If someone tells you they want to give you a $5 million lotto ticket, of course you’d take it,” Glaser said.