fashion-scoops
fashion-scoops

Former Versace Mansion Slated for Auction

The Miami Beach residence is scheduled to be auctioned on Sept. 17 by an order of the federal bankruptcy court in Miami.

fashion-scoops/news

FORMER VERSACE MANSION SLATED FOR AUCTION: The former home of fashion designer Gianni Versace at 1116 Ocean Drive in Miami Beach is scheduled to be auctioned on Sept. 17 by an order of the federal bankruptcy court in Miami.

The 23,000-plus-square-foot South Beach oceanfront estate, where Versace was murdered in 1997, was built in 1930. It features 10 bedrooms and 10 bathrooms. Fischer Auction Co. is handling the auction. The property was once on the market for $125 million. Peter Loftin, the majority owner of the property, filed for bankruptcy.

According to Fisher Auction Co., bidding will start at $25 million. The stalking horse is VM South Beach, the secured lender that’s connected to the Nakash family. The Nakash family is also connected to the fashion world through denim firm Jordache Enterprises. VM acquired the note from Loftin’s original lender.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false