Miami's infamous Versace mansion listed for September 17 bankruptcy auction

Jonathan ChancellorJuly 17, 2013

Casa Casuarina, the ornately decorated South Beach Miami mansion built for the late fashion designer Gianni Versace, has been listed for September 17 auction having failed to sell last year when listed with US$125 million (A$126.5 million) hopes.

Its now listed for bankruptcy auction.

The iconic Mediterranean-style estate has 10 bedrooms and 11 bathrooms – all Versace’s design – with the style kept by its current vendor, the telecommunications entrepreneur Peter Loftin.

The mansion was built in 1930 by architect Alden Freeman, an heir to the Standard Oil fortune, in tribute to the Alcazar de Colon, Christopher Columbus's family home in the Dominican Republic.

The Italian designer was gunned down on the steps of his home in 1997 by Andrew Cunanan.

He’d purchased the 1930s property in 1992 for US$2.05 million and spent around US$33 million to renovated and extend it into a residence of over 2,140 square metres after his 1993 purchase of the now-demolished Revere Hotel for $3.7 million.

It was listed last year by Jill Hertzberg and Jill Eber of Coldwell Banker Residential Real Estate, who operate as The Jills. Now its through Fisher Auction Company.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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