Former Versace mansion in Miami Beach headed for bankruptcy auction

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Last year Casa Casaurina, formerly owned by late big time fashion designer Gianni Versace, was listed for a whopping $125 million by “The Jills” (Jill Eber and Jill Hertzberg of Coldwell Banker Residential Real Estate) who represented the estate’s owner, Peter Loftin, a telecom entrepreneur. Later the price tag was chopped to $100 million and, failing to sell, was dropped to $70 million. For several years the mansion was used as a luxury boutique hotel named The Villa by Barton G. until recently, when it was closed down. Now the the South Beach mansion is going to bankruptcy auction.

Versace mansion (3)

Built in 1930 and bought in 1992 by Versace, who put into renovating it and adding another wing around $33 million, the 10-bedroom, 11-bathroom walled mansion sprawls on 23,000 square feet on the coveted Ocean Drive in Miami Beach, Florida. Exuding masterful elegance and opulence, it features domed ceilings, curved windows, arched doorways, hand-painted frescoes on the walls and ceilings, ornate statues, a unique 54 ft long mosaic-tiled 24-karat gold-lined swimming pool and a mosaic covered courtyard.

Currently Fisher Auction Company have been appointed to deal with the sale together with Coldwell Banker Residential Real Estate and participants in the auction are to place a $3 million deposit. The auction is scheduled to take place on 17th September, 2013. The home became world famous in 1997, when Gianni Versace was shot dead in front of it. It is still a place for tourists to wander around and take pictures.