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Mansion where Versace died sold for $52m

LAP OF LUXURY: The pool area of the mansion formerly owned by fashion designer Gianni Versace in Miami Beach, Florida. At the age of 50, the Italian was shot to death outside the villa by a prostitute in 1997.


    Sep 19, 2013

    Mansion where Versace died sold for $52m

    THE luxurious villa formerly owned by Italian fashion designer Gianni Versace and the place of his murder in 1997 was sold at auction on Tuesday for US$41.5 million (S$52.3 million).

    The Miami Beach property went to VM South Beach, a group led by investor Joe Nakash, one of only three bidders.

    Rival bids were made by Mr Eric Trump, the son of real-estate tycoon Donald Trump, and Mr Glenn Straub, owner of the Palm Beach Polo and Country Club.

    "The auction of this iconic South Florida villa closed at US$41.5 million, which was the last price offered by VM South Beach," said Mr Lamar Fisher, president of Fisher Auction. "We think it's a very good deal and we are happy with it."

    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 at 1116 Ocean Drive.