Inside the Versace Mansion: Photos From the $25 Million Open House

Categories: Unreal Estate

VersaceMansionPool.jpg
All photos by Zachary Fagenson
For swimming or for wishing?
Every door inside the former home of the slain fashion icon Gianni Versace was unlocked.

Now on the auction block after its owner filed for bankruptcy earlier this month, the opulent 23,000-square-foot manse now known as Casa Casuarina was an open house this week as a team of lawyers, auctioneers, and high-powered realtors prepared to sell the iconic property at a September 17 auction. On a sweltering July afternoon, dozens of reporters and photographers, sweating and toting cameras up and down its three stories, gawked at the ten rooms and 11 bathrooms. Here's what we found inside:

See also: More photos from inside the Versace Mansion

The starting bid is $25 million. The marble, fresco, and 24-karat gold-covered home will be sold at that price if no one bids higher, said Lamar P. Fisher, president of Fisher Auction Co.

Hopeful buyers will have to put $3 million in escrow and show proof of $40 million to get a seat at the auction. The winning bidder will have to put up enough to make 10 percent of the total sale price. On the spot.

Powerhouse realtors Jill Eber and Jill Hertzberg (who just sold disgraced banker Claudio Osorio's Star Island home for $30 million) brought the house to market for a whopping $125 million in June 2012. Since then, its price has tumbled to $100 million, then $75 million, and finally $25 million for the upcoming auction.

Casa Casuarina is like the Vatican. Every wall, every floor, and every window is so ornate and detailed it's easy not to see an upcoming turn in a hallway or forget which door leads to the shaded, marble-floored courtyard. Versace bought it in 1992 for about $10 million and poured an additional $33 million into it.

Besides the intricate mosaics -- and the reliefs of John D. Rockefeller and Benito Mussolini -- here are the top ten things that made us pause in awe and confusion:

VersaceMansionPoolTiles.jpg
10. 24-Karat-Gold Tiles in the Pool
You hear about the gold-covered and -flaked tiles in the intricate, all-marble pool. You don't quite get it until standing in front of the thing and the luster and twinkle of every small tile changes with every step.


Location Info

Map

Casa Casuarina

1116 Ocean Drive, Miami Beach, FL

Category: General

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7 comments
internetinternet
internetinternet

The original owner was murdered at the front steps.  Then dirty money from a Ponzi scheme was used to fund the next business venture.  The house then went on to evaporate millions more.  Buyers should see a trend and stay away from overpriced Miami Beach real estate.  To call the area sketchy is an understatement. 

frankd4
frankd4 topcommenter

well i guess this points out that MIAMI real-estate is a circus

imagine a potential BUYER relying on BROKERs who are pushing a multi-million dollar residence that turns out to be actually SOLD for a FRACTION of the asking price ?

the SUNK costs of approximately $45 million seems to indicate NO APPRECIATION

shouldn't the purchase date on 1992 over twenty years ago mean this place should be going for much much MORE ?

a place purchased in PALM BEACH,  for example,  given the same pedigree and costs would undoubtely be priceless today, so what is the BIG DEAL about SOBE ?

Frank Daddario
Frank Daddario

i don't really see the BIG DEAL about a $1,000 per square foot house which is an average price in up-scale MIAMI residential areas

NewsDog
NewsDog

Does the observatory have a working telescope?

Jimena Zeballos
Jimena Zeballos

The rooms are tacky and gawdy. would love to scavenge around the basement though.

David H Dennis
David H Dennis

Amazing house, wish I'd known about the open house when I could have gone instead of after the fact :)

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