Famed singer Julio Iglesias has purchased a home valued at $15.2 million in an off-mark deal. The home on the property will be demolished so Iglesias can build a new one.

Baltimore developer, Paul Frederick Obrecht, who passed in November, previously owned the property. In 1981, Obrecht had paid $775,000 for the property, according to the Miami Dade Appraiser’s office.

Iglesias attempted to sell a manse on Indian Creek for $28 million, but after failure to sell, the singer demolished the property in 2008, where it still remains as an empty lot.