ArteCity features stylish Italian kitchens and bathrooms in stylish condos designed with Art Deco designs and a modern twist. Located next to BASS museum of art & Miami City Ballet.
Jordache Jeans’ owners have officially purchased the Versace Mansion in South Beach for $41.5M. Now plans are underway to keep it operational as a hotel bearing the licensed Versace name, according to The Real Deal.
Casa Casuarina, as the property is known, was officially listed more than a year ago for $125M. Following numerous price reductions, the property was sent to auction this September. Other high-profile bidders included Donald Trump and Glenn Straub, who is the owner of the Palm Beach Polo and Country Club. One of the prerequisites for bidders was a $3M deposit $40M in liquid assets.
The Nakash family, who are owners of Jordache Enterprises, were also creditors of the estate, which gave them a competitive advantage in the auction. Jordache Enterprises is also a hotel group that’s behind other popular South Beach Miami names like Hotel Ocean, Hotel Barcelona, Breakwater, the Thompson and more.
The sale included furnishings and the original mosaics. Casa Casuarina is additionally famed for its gold-lined swimming pool. The property features 10 bedrooms and 11 bathrooms. Notable guests in the past include Princess Diana and Madonna. Jordache Enterprises is now awaiting a deal with the Versace family to use the same moniker, where it would operate next door to Hotel Victor.
The Faena District in South Beach will comprise of residences, a hotel, luxury retail and an arts center. Several news sources have confirmed that Faena has dropped the record sum of $100M for the historic Versailles Hotel. The hotel is neighboring to the current site plan and will accompany another former Art Deco hotel, the Saxony, in the five-block Faena District between Collins Avenue and 32nd Street.
Alan Faena partnered with billionaire investor Len Blavatnik, where the two have previously paired to build Puerto Madero in Buenos Aires. Seller Joseph Chetrit originally purchased the 30-unit Versailles Hotel that stands 10 floors high for $50 Million. Approvals were previously given for renovation last year by the City of Miami.
Notable architects who are heading Faena District’s design include Norman Foster, and Rem Koolhaas who is also a Pritzker prize-winner. Faena House will be designed to replicate a ship at sea according to Huffington Post’s exclusive renderings.
Some top features of Faena House include rooftop pools, jaw-dropping views, and insanely large balconies that function as a hallway – connecting to several rooms in each unit. Floor to ceiling glass windows will be built to hurricane-resistant specifications. See Faena House’s brochure here.
For details on Faena House residences, contact Sydney Server at 305-562-7363. Buyers score top discounts during preconstruction stages. Don’t miss this opportunity! Faena House is already 50% under contract.
The Real Deal has reported that the Versace Mansion has undergone bankruptcy, and as a result, investors can head to the scheduled auction on September 17th.
Versace Mansion in South Beach has been listed for sale for nearly a year, with an original listing price of $125M. The price was later reduced to $75M.
Interested parties can attend the bid on September 17, 2013 at 10 a.m., with the following requirements:
Bidders are required to fund an initial deposit of $3M into an escrow account.
Bidders will need to provide certification of $40M in funds or assets.
The property has had a rich history, including being home to many famous guests like Madonna. In addition, the famed former owner and designer, Gianni Versace, was killed outside the property in 1997.
Features of the property include 12 decked out closets in the master bedroom, and a pool that’s made from 24K gold tiles. According to the broker, Versace’s style lives on throughout the home, even with the millions spent in renovations in the late 1990s.
Property Name: Casa Casuarina | Versace Mansion
Address: 1116 Ocean Drive Miami Beach, FL 33139
Year Built: 1930s
Type: single-family home
Number of Floors: 3
SF: 19,000
Unit Type: 10 BR/11 BA
