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Versace mansion sells for US$41.5m
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One of America’s landmark homes, the Miami Beach mansion that once belonged to Italian fashion designer Gianni Versace, was sold at an auction yesterday for US$41.5 million to a business group that includes the owners of the Jordache jeans brand.
The 1930s-era Mediterranean-style estate, which has 10 bedrooms, 11 bathrooms and a pool inlaid with 24-karat gold, was auctioned off as part of a bankruptcy proceeding by its current owner, telecom magnate Peter Loftin.
Bidding opened at US$25 million and the winning offer was made by the current mortgage holders of the property, VM South Beach, a company affiliated with New York’s Nakash family, which controls Jordache Enterprises.
The 2,137-square-meter mansion is replete with hand-painted frescoes, Italian marble and a gold-and-marble toilet.
In 1997, Versace was gunned down at the mansion’s entrance gate by serial killer Andrew Cunanan. Three years later, Versace’s family sold the property to Loftin.
Versace bought the property in 1992 for US$$2.9 million. He then purchased the hotel next door and spent US$33 million on renovations to add another wing. Inside, he decorated with an over-the-top style that included paintings of Grecian, nymph-like characters playing lyres under palm trees.
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