Pablo Escobar's Miami mansion is being torn down......
 

5860 North Bay Road: http://www.miamiherald.com/living/ho...e54715810.html
http://www.zillow.com/homes/5860-Nor...omePageTab=buy

Using metal detectors, magnetometers, electric saws and other tools, three professional treasure hunters carefully searched an abandoned mansion on Miami Beach.

They were not looking for old silver coins or gold bars from some Spanish galleon sunk in Biscayne Bay. The treasure they sought was bundles of dollars. In the worst of cases, maybe drugs or human remains.

“Pablo Escobar used to launder a lot of money. He had so much that he could not launder it all, and it’s known that he hid barrels full of money all over,” said Nokolay Malchev, an inspector from Kellyco Metal Detectors.

The mansion, rose colored with black roof tiles, was owned in the 1980s by Escobar, the Colombian drug lord who was one of the richest and most dangerous criminals of his era.

For those of you not familiar, Don Aronow (now Phil Collins owns the house) lived on the same street.

This house 2 doors down was once owned by a Saudi Prince:
http://www.zillow.com/homes/for_sale...65_rect/14_zm/

Last owned by a Ponzi schemer that got convicted. Govt is trying to sell it now.

So from BeeGee's members, to Don Aronow to Saudi Princes to Escobar.......Could you imagine living on that street in the mid 80's? Had to be insanity!:eek:

Does give a tiny bit of creditability to the drug runners and boat builders thing.
I'm sure that street was fun back in the day though.

RM will be extremely disappointed

Jeeezuz, volatile market much?! Saudi prices house sold in 99 for 3.9 mil now listed for 29 mil. Escobars pad sold in '14 for 9.56 mil and less than two years later it's listed for more than double at 21mil. No wonder Greg (Cashbar) finally bought a boat! :p

If memory serves me correctly, Aronow never lived on North Bay; his wife bought the house from Elton Cary after his death. His home was on North View on Sunset Island.

Tank, word is the lot is being cleared for Cashs new spread.

Damn 650$ a day for property tax

70k a month house payment? No prob.

Seriously though, Phil Colins should have a cigarette on a hoist on front of his house for history sake.

Sadly that number is based on the current assessment. Lets say a house is assessed for 10 million, taxes are 2% of value (200K a year). You buy it for 16 million, taxes are now 2% of the higher value (320K a year now). This is a real problem on an old homesteaded home, it holds the tax increases to 3% of assessed value (house assessed for 800K, next year the most it can go up to is 824K (3%). So someone that has lived there for years may have a 10 million dollar home that is assessed for 900K.....current bill 18K a year, new guy buys at 10 million and suddenly taxes shoot to 200K.

Tiger Woods 12 acre oceanfront estate- 900K a year in taxes!

This is Celine Dion's house on the same street as Tiger's house. She has a million gallon pool/waterpark on the property. Her place is for sale for 65 million, house is assessed for 19.5 (taxes are 350k a year). Pool guy gets 16,000 a month for service and she employs a staff of 6 full time despite not even living there! If she gets anywhere near asking price the new tax bill will shoot to about a million bucks a year......ouch

https://www.youtube.com/watch?v=lhZuW0JJGFg

wow, my property tax last year was $2,000 and I was pissed about that.