Friday, September 20, 2013

Versace Mansion Sells in Miami Beach for $41.5 Million

South Florida is known for being a desirable place for the wealthy to throw down roots, and with that comes some of the most beautiful estates in history. One of the more iconic south Florida mansions is the former Versace mansion located in Miami Beach. Originally listed at $125 million, this 10 bedroom, 11 bathroom Miami Beach mansion ended up going to auction where the bidding closed at $41.5 million, sold to VM South Beach LLC, one of the principals of which is the Nakash family who control Jordache Enterprises. Donald Trump was reported to be one of the other two bidders in this small Miami Beach auction. Gianni Versace purchased the Miami Beach mansion in 1992, and was murdered on the very front steps of that mansion in 1997. In 2000, Versace's family sold the Miami Beach mansion which was converted into a private club, and then later on as a boutique hotel until very recently. Versace spent $33 million renovating the Miami Beach estate, which includes a 54-foot-long swimming pool, that is lined with 24 karat gold tiles.

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