Mobster Al Capone's Florida Mansion and Illegal Gaming Den Up for Purchase
Posted on: March 9, 2022, 12:43h. \Last updated on: March 9, 2022, 01:56h. \Devin O'Connor @CasinoorgDevinO \Read More \Asia Pacific Gaming \Commercial Gaming \Legislation \Politics \A bloody fascinating piece of Miami's mafia history has resurfaced, and it's up for grabs for a staggering $13.9 million!
Located at 334 Atlantic Avenue in North Miami Beach's Atlantic Isle community, this lavish waterfront mansion boasts a private island, seven bedrooms, six-and-a-half baths, and a whopping 350 feet of waterfrontage. But what sets this baby apart from the rest is its intriguing, underworld past.
This Mediterranean-style gem sits on the Intracoastal Waterway opposite Oleta River State Park, a lush green haven spanning over 1,000 acres on Biscayne Bay. The property includes a cozy, undevelopable private island that adds to the allure.
Cashing in Big
Former Sunny Isles Beach Mayor George "Bud" Scholl and his wife Dione Del Monico have been the proud owners of this Atlantic Isle estate since 1993. Now, they're ready to cash out a significant sum, listing their compound for a cool $13.9 million. If it fetches anywhere near that price, the deal would represent a massive return on their initial investment of just $525,000 back in 1993—over a million bucks today when you factor in inflation.
Property records reveal that the estate's tax bill for the previous year came to just $15,500, based on an estimated value of approximately $900,000.
Despite soaring real estate prices, not everyone has found buyers willing to fork over the goods. One such big-timer is disgraced former Las Vegas casino tycoon Steve Wynn, who's still trying to unload his Nevada mansion and Beverly Hills sprawler. The Southern Nevada mansion, nestled on billionaire row, is still listed for a cool $24.5 million, while the sprawling Beverly Hills compound on Benedict Canyon is still going for an eye-watering $115 million.
Gambling Away in the Magic City
Al Capone wasn't exactly welcomed with opened arms when he rocked up in Miami Beach in 1928. Known as a notorious villain by then, Capone brought his illicit and underground activities with him, including gambling.
City officials had their faces turned the other way before Capone arrived, and South Florida was already a hotbed of illegal activities like gambling, prostitution, corruption, and rum-running. Even without Capone, Miami Beach was a sin city like no other!
Capone eventually called Clarence Busch's Palm Island estate his permanent residence—just 10 air miles from the Atlantic Isle property. The historic mansion is a significant part of Miami Beach's lore, often featured in celebrity home tours highlighting million-dollar mansions such as Star Island[1].
Capone lived lavishly on the island until his untimely death from a stroke and pneumonia in 1947, at the age of 48.
Hop on a boat tour, and you might just catch a glimpse of Miami's shady past!
[1] Miami Boat Tours & Cruises: https://www.viator.com/d6188-miami-boat-tours-cruises
- The $13.9 million property at 334 Atlantic Avenue, part of the Atlantic Isle community in North Miami Beach, is up for sale, boasting a private island, seven bedrooms, and a significant history linked to the mafia.
- The Mediterranean-style mansion, once owned by George "Bud" Scholl and Dione Del Monico since 1993, is now being listed for a considerably larger sum than their initial investment of $525,000.
- Despite the property's estimated value of nearly $900,000, the tax bill for the previous year was surprisingly low at $15,500, signifying a potential investment opportunity.
- In contrast, disgraced former Las Vegas casino tycoon Steve Wynn is still trying to sell his Nevada mansion and Beverly Hills sprawler, listed for $24.5 million and $115 million respectively.
- Al Capone, a notorious figure in the world of casino-and-gambling, was a resident of Miami Beach in 1928, where he carried on his illicit activities, including gambling.
- Despite the city officials initially turning a blind eye, Miami Beach was already known for its illegal activities like gambling, prostitution, corruption, and rum-running even before Capone's arrival.
- The general-news and crime-and-justice sectors have shown continued interest in Capone's permanent residence on Clarence Busch's Palm Island, which is a significant part of Miami Beach's lore.
- For those seeking a glimpse of Miami's shady past, boat tours might offer a unique opportunity to catch a glimpse of the city's mafia history.
