Gianni Versace’s $125 million mansion for sale
The Miami Beach home of the late designer Gianni Versace is up for sale with a price tag of $ 125 million.
BY Bibby Sowray |
11 June 2012
Gianni Versace’s extravagant Miami Beach mansion is back on the market, with a hefty $ 125 million (£80.7 million) price tag.
The designer was shot dead on the steps of the house in July 1997, after which the property was put up for sale and eventually sold to telecommunications billionaire Peter Loftin for $ 19 million in 2000. Loftin decided to convert the 10-bedroom, 11-bathroom house into an exclusive members-only club and boutique hotel where a room would set guests back $ 2,500 a night.
The former home of Gianni Versace. Photo: AP
Loftin was forced to close down his hotel venture in 2009 when one of his investors was arrested for running a $ 1 billion Ponzi scheme, but later reopened the villa following a makeover by restaurateur Barton G Weiss, and renaming it ‘The Villa by Barton G’.
Loftin now wishes to sell the property after a rather tumultuous 12 years. “This is an iconic oasis for the rich-and-famous that sits in the middle of South Beach,” Loftin said in a statement. “It’s a one-of-a-kind property, created by a genius; that is a piece of art, and a piece of history.”
One of the mansions 10 bedrooms. Photo: AP
The opulent piece of real estate – known as Casa Casuarina – was originally purchased by Gianni Versace for a cheap-by-comparison $ 2.9 million (£1.8 million) in 1992. Versace then splashed out $ 33 million (£21.2 million) on a ‘facelift’ which included a golden-tiled kitchen, a 54ft-long mosaic-tiled pool lined with 24-carat gold, and a huge Medusa mosaic – the house of Versace’s brand logo – in the courtyard.
So you too can live like Versace, but it will cost you.