Versaces Miami Mansion Sells for $41.5 Million at Auction

Gianni Versace’s Miami Beach mansion was sold for $41.5 million at auction.

The 1930's-era Mediterranean-style estate owned by the Italian designer has 10 bedrooms, 11 bathrooms, a 24-karat inlaid pool, hand-painted walls, gold-and-marble toilet.

Considered as one of America’s landmarks, 23,000-square-foot mansion was sold to VM South Beach LLC, a group of investors which include the Nakash family who is the founder of the Century 21 department store chain and the owners of the Jordache jeans brand. They plan to name the property the Versace Hotel Villa. Others who showed their interest to the mansion were billionaire Donald Trump and a-list couple David and Victoria Beckham.

It was listed on the market for $125 million in June 2012 but was lowered to $75 million in May of this year.

Versace purchased the house in 1992 for $2.9 million plus a hotel next door for $33 million.  It was expected to be the most expensive home to be sold in Miami, surpassing the $47 million bought by a Russian last year. The house was built by Standard Oil heir Alden Freeman and was inspired by the Alcazar de Colon palace, built by the son of Christopher Columbus.

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