The Versace House is one of the most iconic properties in the world. This luxurious mansion, located in Miami Beach, Florida, was once owned by the late fashion designer Gianni Versace. Since his tragic death in 1997, the house has been sold a few times and has undergone significant renovations.
So, how much is the Versace House worth today? According to recent estimates, the property is valued at around $125 million. This makes it one of the most expensive homes ever sold in America.
History of the Versace House
Gianni Versace purchased the property in 1992 for just over $10 million. The mansion was originally built in 1930 by architect Alden Freeman and was known as Casa Casuarina. After purchasing it, Versace spent millions on renovations to turn it into his dream home.
The mansion features a unique blend of Italian and Spanish architecture and boasts over 23,000 square feet of living space. It has ten bedrooms, eleven bathrooms, a stunning pool area, and numerous other luxurious amenities.
Sadly, Versace only got to enjoy his beloved mansion for a few years before he was tragically murdered outside its gates in 1997. The property was then inherited by his family who eventually decided to sell it.
Sale of the Versace House
In 2000, Casa Casuarina was put up for sale with an asking price of $25 million but failed to attract any buyers. It wasn’t until 2012 that the property finally sold for $41.5 million to a group of investors led by Joe Nakash.
Nakash and his team spent over $33 million on renovations to restore Casa Casuarina to its former glory. They also turned part of the mansion into a boutique hotel called The Villa By Barton G which features ten luxurious suites that pay homage to Gianni Versace’s legacy.
Current Value of the Versace House
In 2017, The Villa By Barton G was sold for $41.5 million to the Jordache Enterprises, a fashion company owned by the Nakash family. They also acquired the remaining part of Casa Casuarina, bringing their total investment in the property to over $100 million.
Today, the Versace House is estimated to be worth around $125 million. It’s not just a residential property but also a world-renowned landmark that attracts thousands of tourists every year. With its rich history and luxurious amenities, it’s no wonder why this mansion commands such a high price tag.
Conclusion
The Versace House is more than just a property – it’s a symbol of luxury, style, and innovation. From its original owner Gianni Versace to its current investors, this mansion has captured the hearts and imaginations of people all over the world.
While its value may fluctuate over time, there’s no denying that Casa Casuarina will always hold a special place in the hearts of those who appreciate true beauty and elegance.