Former Versace mansion in Miami Beach sells for $41.5 mn
The luxurious villa where Italian fashion designer Gianni Versace was murdered in 1997, pictured here on April 22, 2005, was sold at auction Tuesday for $41.5 million.
The Miami Beach property went to VM South Beach LLC, a group led by investor Joe Nakash, one of only three bidders.
Rival bids were made by Eric Trump, the son of real estate tycoon Donald Trump, and Glenn Straub, owner of the Palm Beach Polo and Country Club.
"The auction of this iconic South Florida villa closed at 41.5 million dollars, which was the last price offered by VM South Beach LLC," said Lamar Fisher, president of Fisher Auction Co.
"We think it's a very good deal and we are happy with it," he said.
Versace, then 50, was shot to death outside the palm-fringed Mediterranean-style mansion on July 15, 1997, by Andrew Cunanan, a gay prostitute who had been on a three-month killing spree.
The auction lasted less than 20 minutes in the mansion's swimming pool area on 1116 Ocean Drive, as reporters covering the event were kept outside.