Casa Casuarina, the Miami Beach house once owned by late fashion designer Gianni Versace, is on the market for $125 million. The designer was shot dead on the steps of the house in July 1997, after which the property was put up for sale and sold to telecommunications billionaire Peter Loftin for $19 million in 2000.
Loftin then converted the 10-bedroom, 11-bathroom house into an exclusive members-only club and boutique hotel where a room would set guests back $2,500 a night. Loftin was forced to close down his hotel venture in 2009 when one of his investors was arrested for running a $1 billion Ponzi scheme, but later reopened the villa following a makeover by restaurateur Barton G Weiss, and renaming it ‘The Villa by Barton G’. Loftin now wishes to sell the property after a rather tumultuous 12 years. “This is an iconic oasis for the rich-and-famous that sits in the middle of South Beach,” Loftin said in a statement. “It’s a one-of-a-kind property, created by a genius; that is a piece of art, and a piece of history.”