Al Capone’s Miami Beach Compound Has Sold to European Soccer Agent Mino Riaola for $9M

Previous listing photo.

The Miami Beach compound mobster and Mr. #1 on the FBI’s Most Wanted List, Alphonse Capone lived, and died in, when not in Chicago, has sold to European soccer agent Mino Riaola for an estimated $9 million. The actual amount has apparently not been made public. The house is located at 93 Palm Avenue, on Miami Beach’s Palm Island. Although the Miami Herald broke the news, the story appears to have been taken down from the paper’s website, which is a little odd. Curbed Miami reblogged it in time, however.

The Palm Island waterfront home was saved from a desperate state and likely destruction and restored to something closer its original appearance by its former owner, who listed the restored house in 2012 for $10 million, had trouble selling it for years, took it off the market to use as some kind of event/film venue, and by now is probably glad to be rid of it. That’s pretty unfortunate because, even though it is kind of an odd house, with a scandalous reputation, it’s still fantastically historical, and still classy. I covered the house frequently while Curbed, so check out their archives. Hopefully Riaola will take care of the house as it deserves to be taken care of, and correct a few of  the mistakes in the renovation. As I noticed during a tour of the house a few years ago with my friend Dana Herndon, who wrote this excellent piece for Curbed on the house, although the renovation undoubtedly saved the house, it appeared at the time to have been done on the cheap.

Calvin Klein’s $16 Million North Bay Road House is Still on The Market

What’s going on Calvin? News broke over a year ago that fashion mogul Calvin Klein’s North Bay Road home in Miami Beach was hitting the market for $16 million because Mr. Klein was up and leaving Miami and going to L.A. That was May of 2015. Fast forward to now, over 400 days later, and the historic Mediterranean Revival house is still owned by Klein, still on the market, and still listed at $16 million. What gives?

Matt Damon’s Miami Beach Estate Now Under Contract

After spending over 600 days on the market, the Miami Beach waterfront estate owned by Oscar award-winning actor Matt Damon is finally under contract.  The one-acre property located at 6020 North Bay Road is comprised of two separate but adjacent parcels.  It was originally listed for $20M on April 11, 2013.  According to MLS records, the North Bay Road waterfront home, which was reduced late last year to $18,999,000, went under contract earlier this week on December 1, 2014.  The estate – known as “Maravilla” – was built in 1935 and is situated on a rare double lot with 170 feet of water frontage.  In two separate transactions, in 2005,  Damon acquired it for a combined total of $14.5M.

No word on who the buyer might be but, due to the sheer size of the land itself, my guess, if I had to venture one, is that the buyer has plans to knock down all existing structures and build anew.  Damon’s seven-bedroom, Miami Beach estate has just 12,705 interior square feet, quite small when compared to the 21,845 square foot home that could reside there, according to my calculations, if built to code.  The property located at 6020 North Bay Road has great potential, a fact that I am sure would not be overlooked by buyers in this price range.  If I am correct, the transaction should close quickly as there would not be a need to do a home inspection.

It will be interesting to see the final sales price once everyone lays down their cards.  Word has it that Damon, along with his wife and children, relocated in 2012 to Pacific Palisades, a neighborhood of Los Angeles, California.

If you’re curious about other luxury houses for sale on North Bay Road or other exclusive neighborhoods throughout Miami Beach, be sure to pay a visit to our collection of luxury real estate for sale in Miami and Miami Beach.

Alex Rodgriguez Lists Miami Beach Mansion for $38M

After moving into the property less than a year ago, Alex Rodriguez looks to part ways with his ultra-chic Miami Beach mansion.  The New York Yankees All-Star recently listed the 20,000 square foot, waterfront home for $39M.  The modern North Bay Road estate is situated on a 1.07-acre lot and has 9 bedrooms, 11 full baths and 2 half baths.  The completely-gated property features 275 feet of water frontage, 2 boat docks, a 3,000 square foot sports room with batting cage, commercial-sized elevator, heated pool, gourmet open kitchen, home theater, outdoor kitchen area, guest house, Crestron lighting, 16 security cameras, surround sound system throughout, seamless indoor/outdoor living spaces, rooftop deck, separate gym building with steam room, covered terraces and a 2,200 square foot Master Suite with atrium, sitting area, his and hers baths and over-sized closets.

Alex Rodriguez purchased the property for a reported $24M in 2010 while it was still under construction.

$47M Sale of 3 Indian Creek Drive Shatters Previous Record Set in March

Records were made to be broken.  Sometimes, however, records are shattered.  The recent sale of 3 Indian Creek Island for $47M shatters the previous record-breaking sale for single-family homes in Miami-Dade County set earlier this year by 22%.  Edward Lampert, Sears Holdings Corp.’s chairman and hedge fund billionaire, purchased a waterfront estate, also located on Indian Creek Island, in March for $38.4M.

3 Indian Creek Drive is paradise-living at its finest.  The 30,000 square foot, waterfront home is situated on an 80,000 square foot lot and has 10 bedrooms, 10 full baths, 4 half baths, a 100-foot resort-style pool, a full catering kitchen, certified greenhouse, rooftop lawn and Jacuzzi, panic room, wine cellar, servant room, chromotherapy spa and massage room, library, elevator and a 7-limo-sized car garage.

Al Capone’s Former Palm Island House Hits the Market for $9.95M

There is no sure thing but death and taxes – so the saying goes.  As it turned out in the end, the two certainties brought about the demise of legendary American gangster, Al Capone – a person who at one time seemed untouchable.  When nothing else would stick, the U.S. government finally nabbed the Chicago kingpin on tax evasion charges.  He was later tried in court and sentenced to federal prison.  Many people erroneously believe that Capone spent his final days locked-up behind bars .  The truth, however, is that the mobster was paroled on November 16, 1939 and returned to his home on Palm Island in Miami Beach, Florida where he ultimately died from a series of health issues.

Al Capone purchased the Palm Island estate in 1928 – three years before his prison conviction – for $40,000.  He used the waterfront home as an escape from Chicago when the authorities started breathing down his neck.  Over the years, the property has had many owners.  The current owner acquired the estate in November 2011 for $5.65M and since that time has fully restored it.  Yesterday, the Palm Island waterfront mansion hit the market once again with an asking price of $9.95M. That’s gangsta!

Billy Joel’s Miami Beach Mansion on the Market for $14.75M

According to several sources, Billy Joel listed for sale his Miami Beach mansion this past Monday for $14.75M.  The 8,881 square foot home offers 7 bedrooms, 8.5 baths, a luxurious bar with wine cellar, gourmet chef kitchen, a formal living and dining room, outdoor summer kitchen and expansive views of Biscayne Bay with over 150 feet of waterfront.  The Mediterranean-style estate resides on La Gorce Island, an exclusive neighborhood that has seen its fair share of celebrity-residents such as Shakira and Lil Wayne.

Joel purchased the property in 2006 for $13.5M, according to public record.  Below are the photos of his former palatial pad.

Ricky Martin Sells Miami Beach Home; Jay-Z and Beyonce Possible Buyers

Pop singer Ricky Martin has sold his Miami Beach luxury home for $10.6M, as reported this morning by The Miami Herald. The 9,491 square foot waterfront mansion features 7 bedrooms, adjoining guest quarters, 8 full baths, 2 half baths, a fully wired media room, Jacuzzi, pool and elevator.  The Mediterranean home resides on 150 feet of waterfrontage along the prominent, star-studded neighborhood of North Bay Road.

The property was purchased by Ricky Martin for $10M in May 2005. No definitive word on who the buyer might be but the Herald article states that Jay-Z and Beyonce took a long, hard look at the home in December.

Exceptional North Bay Road homes currently on the market include:

• 3114 N Bay Rd – asking $17.95M
• 2040 N Bay Rd – asking $16.5M
• 2156 N Bay Rd – asking $8.95M

40 S Hibiscus Sells For $9.35M

Earlier this afternoon, the ultra-modern, waterfront home located at 40 South Hibiscus Drive in Miami Beach sold for $9.35M, or $1,169 per square foot.  The 8,000 square foot mansion has 8 bedrooms, 8 baths, 2 half baths and resides on a 24,000 square foot lot with 120 feet of prime waterfront and a boat dock.  The luxury home sold in 329 days at roughly a 33 percent discount from its initial asking price of $13,995,000.  For more information and pictures regarding the luxury home located at 40 South Hibiscus Drive, refer to the piece I wrote about it in October 2010.