The famous Casa Casuarina that once belonged to late fashion mogul and founder of couture brand 'Versace', Gianni Versace, will reportedly be auctioned off on September 10, 2013.
According to the Zillow Blog, the home is being auctioned because the owner, Peter Loftin, has filed for bankruptcy. The home will be auctioned by the Fisher Auction Company with all its furnishings intact. However, to qualify for the purchase, bidders have to make a $3 million deposit and must prove their financial stability or assets worth $40 million. Once a bidder wins, he/she has to give a 10 percent deposit of the bid, immediately.
"It will be the auction of a century. It provides an opportunity for the world to react and compete for this awesome property," Lamar Fisher, president and CEO of Fisher Auction Company said in a statement.
The home was first listed in 2012 for $125 million and then recieved a price-chopper to drop to $75 million in May 2013.
Located in Miami, the Casa Casuarina is one of the most elaborate mansions of the country. It was only an ailing apartment building when Versace purchased the structure in 1992 for $2.9 million. He then renovated the place to its current glory, spending $33 million on it. The mansion is now used as a boutique luxury hotel but is also available as a "single-family-home" purchase, reports Forbes.
The Casa has quite an interesting history. When Versace announced plans of demolishing the place for renovation, the Miami Design Preservation League (MDPL), the same group which has been opposing Leonard and Lisa Hochstein's Star Island home renovation plans, opposed the renovation. After six months of stringent opposition, the demolition plans were finally approved.
Versace was murdered by a serial killer on the doorsteps of the residence in 1997. The killer committed suicide just a week after murdering Versace. After his death, the manse was put up for auction and purchased by telecom giant, Peter Loftin, in 2000. In September that year, the place was converted into a private club and later turned into a boutique hotel.
Built in 1930, the home sits on the waterfront area of Ocean Drive in Miami Beach. The 10-bedroom, 11-bathroom, gated home features a 54-foot long, mosaic pool. The pool is lined with 24-karat gold. The home is stacked with several frescos, elaborate statues and has arched doorways and an open air courtyard.
Check out the photos of the beautiful mansion, here.
