The opulent Miami Beach villa where the fashion designer Gianni Versace was murdered in 1997 is to go under the hammer in an auction ordered by the US bankruptcy court. It is estimated to sell for around $50 million. The mansion had been previously listed for $125 million but failed to find a buyer. This ‘Crown Jewel of Ocean Drive’ is one of the most coveted trophy properties in the resort and is recognised for its elegance and style. The home is preserved and maintained with all of Versace’s design elements, making Casa Casuarina a one-of-a-kind property, a piece of history, in an iconic area frequented by the rich and famous.
The house and outbuildings had been previously sold by the Versace estate after the designers death in 1997. It was later renovated into into a boutique hotel, but the hotel was unable to make a profit. An auction has now been scheduled for September 17. The Fischer Auction Company which is handling the sale have stated that the property consists of an Ocean-front Estate Built in 1930. It has 10 Bedrooms / 11 Bathrooms 19,500+/- SF Lot on World Famous Ocean Drive, directly facing the Atlantic Ocean, Lavish Appointments, Luxury-laden, 54 Foot Long, Mosaic-tiled, 24K Gold-Lined Pool, Domed Ceiling, Curved Windows, Hand-painted Walls and Ceiling Frescoes, Located in the Heart of Miami Beach’s famed Art Deco District. It is understood that the property is available for Commercial or Residential usage.
“We are very pleased to have the opportunity to manage the sale of this one-of-a-kind property,” said Lamar Fisher, President and CEO of Fisher Auction Company, who said the sale should draw prospective buyers from around the globe.
In 1992 Gianni Versace spent an estimated $33 million renovating the villa. He also added another wing to the mansion. Versace was murdered by the serial killer Andrew Cunanan, who shot the designer as he returned from getting his morning coffee. Cunanan had killed four other people in the time leading up to the Fashion icons murder. He committed suicide following the designer’s murder,on a houseboat located in Miami.