Versace’s Former Mansion on Sale for $125M

June 13, 2012

The estate once belonging to the late Italian designer Gianni Versace, who was murdered outside the mansion in 1997, is on the market for $125 million in Miami. 

The 18,838-square-foot home, dubbed “Casa Casuarina,” features 10 bedrooms, 11 bathrooms, and a 24-karat gold lined pool, according to Zillow. The home, originally built in 1930, was once an apartment building until Versace purchased it in 1992 for $10 million. He spent $33 million renovating and expanding the home. 

Following his death, the estate was purchased in 2000 for $20 million by telecom entrepreneur Peter Loftin, who in 2009 turned the mansion into the boutique hotel Villa by Barton. 

While homes listed at $100 million and over are rare, international buyers in recent months have been sweeping up some of these big U.S. buys. For example, Yuri Milner, a Russian investor, purchased the Spellor Manor in Silicon Valley for $100 million, and another Russian billionaire purchased an $88 million New York City penthouse for his daughter. 

"Miami is now seeing prices like it's never seen before, with an influx of international buyers, so it's the perfect time to sell this trophy property," Coldwell Banker listing agent Jill Eber, who shares the property listing with another agent, told The Wall Street Journal.

Source: “Versace’s Former South Beach Home Lists for $125M,” Zillow (June 11, 2012)

Read More

Michael Jordan's Mansion Jumps Onto Chicago Listings
Luxury Agents Try 'Shock and Awe' Marketing