On July 15, 1997, fashion icon Gianni Versace was murdered on the steps of his Miami Beach mansion. The luxurious property, located at 1116 Ocean Drive, had become a symbol of Versace’s success and opulent lifestyle. After the tragedy, the fate of the house became a source of speculation and controversy.
The Versace mansion was originally built in 1930 by architect Alden Freeman. It was later purchased by Gianni Versace in 1992 for $2.95 million. The Italian designer then spent an additional $33 million on renovations to transform it into his dream home.
The mansion featured a unique blend of Mediterranean and Art Deco styles. It boasted ten bedrooms, eleven bathrooms, a mosaic-tiled pool, and a rooftop observatory. The interior was adorned with frescoes, marble statues, and ornate furnishings.
After Versace’s death, his family put the mansion up for sale at an asking price of $125 million. In 2000, it was purchased by telecom entrepreneur Peter Loftin for $19 million.
Loftin turned the property into a luxury hotel called “The Villa By Barton G.” He preserved many of the original features such as the frescoes and pool while incorporating modern amenities such as a spa and restaurant.
In 2013, however, the hotel closed due to financial difficulties. The mansion remained vacant until it was sold again in 2015 for $41.5 million to Joe Nakash of Jordache Enterprises.
Nakash announced plans to turn the property into another luxury hotel under the name “Palazzo Versace.” The renovation took three years to complete and cost an estimated $100 million.
Today, Palazzo Versace is open to guests and offers an unparalleled level of luxury and glamour. The hotel features 100 rooms and suites decorated with Versace’s signature prints and colors. Guests can enjoy fine dining at the restaurant, relax at the spa, or lounge by the pool.
In conclusion, the fate of Gianni Versace’s mansion has been a rollercoaster ride of tragedy, controversy, and transformation. From a private residence to a luxury hotel, the property has undergone numerous changes while still preserving its unique style and history. Today, Palazzo Versace stands as a testament to Versace’s legacy and enduring influence on fashion and design.
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