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.
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.