A New Era Begins: The $21 Million Transformation of Al Capone’s Palm Island Legacy

A Historical Legacy Reimagined

The vibrant tapestry of Miami Beach’s real estate market welcomes a new chapter as the former site of Al Capone’s iconic estate on Palm Island has been sold for an impressive $21 million. This significant transaction not only reflects the evolving landscape of luxury properties in the area but also highlights the intriguing history associated with one of America’s most notorious figures from the Prohibition era.

A Waterfront Jewel

Nestled at 93 Palm Avenue, the now-vacant property boasts a prime 100-foot frontage along the shimmering waters of Biscayne Bay. Once home to Capone’s sprawling estate, this piece of land offers a rare opportunity for development, combining historical allure with modern potential in one of Miami’s most desirable neighborhoods.

A Pricey Evolution

This recent sale marks a notable increase from the estate’s previous listing price of $15.5 million, showcasing the ongoing demand for premium waterfront properties in the region. The transaction was facilitated by a team of seasoned real estate professionals: Jordan Karp of Jordan Karp LLC and Joel Lusky of The Brokerage South Florida represented the seller, while Mirce Curkoski and Albert Justo of ONE Sotheby’s International Realty stepped in for the buyer.

A Glimpse into the Past

The story of this site dates back to 1928 when the infamous Al Capone acquired the estate, which originally featured a Colonial-style residence built in 1922. Spanning approximately 30,000 square feet, the estate underwent extensive renovations under Capone’s ownership, including the addition of a gatehouse, an imposing seven-foot wall, and luxurious amenities such as searchlights and a coral rock grotto.

For decades, the property remained within the Capone family, until it was sold by Mae Capone in 1952, marking the end of an era. The house itself, however, faced mounting challenges over the years, including its vulnerability to flooding and the need for significant repairs. A recent shift in Florida law further complicated matters, ultimately leading to the demolition of the historic residence in August 2023.

The Future Awaits

The removal of the century-old structure has paved the way for new possibilities at 93 Palm Avenue. With its historical significance and prime waterfront location, the site is poised to attract developers and investors eager to create a luxurious new residence or a high-end project that honors the legacy of its storied past.

As Miami continues to flourish as a global hub for luxury living and investment, the history of this site serves as a poignant reminder of the city’s colorful narrative, intertwined with both opportunity and transformation.

Editorial note: This article was created by A Bit Lavish Miami’s Magazine as an original editorial reinterpretation based on publicly available reporting. Original source: profilemiami.com. Read the original article here: https://profilemiami.com/miamirealestate/2026/8/31/former-site-of-al-capones-historic-palm-island-estate-sells-for-21-million.
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