Versace Mansion Could Become a Museum (Sort Of)

Categories: Unreal Estate

kingwoolfork.jpg
Versace, Versace, Medusa head on me like I'm 'luminati.
The Nakash family recently purchased Gianni Versace's Ocean Drive mansion for $41.5 million, and judging from their public comments so far, they have either way too many ideas about what to do with it or no ideas whatsoever.

At first, their holdings company indicated it would be used as a high-end hotel. Then they floated the idea of using it for retail, with possible tenants such as Apple and Victoria's Secret. Now they're thinking about using it (or at least part of it) as a Versace museum.

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

"We don't have any definite plans yet because it's brand new. We have lots of ideas. An exhibit or a museum is one idea," Jonathan Bennett, real estate director for new owner Nakash Holdings, told South Florida Business Journal. "We bought it because it's magnificent, iconic, and part of the history of Miami."

Last month, New Times ironically wrote, "Perhaps in a different world, the place could be used as some sort of mini-museum, but no one buys real estate for $41.5 million to use for altruistic cultural purposes."

However, Bennett stressed that, ultimately, the family will do what makes the best business sense, and said that some parts of the mansion could be used for retail but that other parts could be open to the public in a museum-like sense.

SFBJ reports that the Nakash family, which made its money in Jordache Jeans, has been in talks with the Versace family about officially bringing the Versace name back to the property. It's technically known as Casa Casuarina.

Previous reports suggested that a hotel branded with the Jordache name could become a possibility, but Bennett said that's not very likely.

It's unclear, though, which of these concepts are likely.

"These are all preliminary ideas," Bennett said.

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Location Info

Map

Casa Casuarina

1116 Ocean Drive, Miami Beach, FL

Category: General

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2 comments
frankd4
frankd4 topcommenter

.......................so maybe this place isn't all that great a deal and will become like many many SOBE real estate deals..........glitzy and sexy,  but utter financial flops, subject to the "greater FOOL theory" that the last owner was lucky to sell to a bigger fool than he was to buy it originally

all that is needed is to find a BIGGER fool than nakash, and SOBE being what it is,  it is only a matter of time before that fool enters the stage down there

basically nakash had to double down on the $25 million mortgage and hope something happens afterwards

internetinternet
internetinternet

This property represents a spot were an accomplished murderer killed his final victim.  It will always be a burden to the new owner. 

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