Al Capone's Miami Beach mansion up for grabs for $8.5m

Al Capone's Miami Beach mansion has been listed on the market for nearly 8.5 million dollars.

The sprawling, waterfront compound is the place where notorious Chicago gangster Al Capone died after he was released from Alcatraz, the New York Daily News reported.

The 10,000-square-foot baby blue mansion is located on exclusive Palm Island, which has been sandwiched in Biscayne Bay between downtown Miami's skyscrapers and South Beach's hotel district.

According to Miami-Dade property records, the current owner, a Florida company managed by New York accountant Anthony Panebianco, had bought the property nearly six months ago for 7.4 million dollars.

Ron Chepesiuk, a journalist and author of the book 'Gangsters of Miami,' said that the house was constructed in 1922 by Clarence Busch, a member of the Anheuser-Busch brewing family.

Capone, who made a fortune by importing and selling liquor during prohibition, bought the beach-front property in 1928 for 40,000 dollars after he was chased out of Chicago and later Los Angeles.