September 17, 2013 will prove an interesting day in Miami Beach real estate, as the Versace Mansion will be auctioned off live! The auction will be held at the mansion and prospective buyers must deposit $3 million in the owners law firm escrow account beforehand. The lawfirm is Marshall Socarras Grant in Boca Raton. Further, the bidders must show proof of $40 million in funds. It is possible the incredible and historic home will sell for far under the asking price of $75 million. The home was originally listed last year for $125 million and has undergone several price reductions. It was once home of Gianni Versace and has a rich history in Miami Beach. Most recently, it has been used for special events and private parties, however the owner underwent financial difficulties leading to this auction.
Casa Casuarina, aka the Versace Mansion, was originally one structure, however Gianni Versace bought a neighboring art deco hotel to expand his property. It has gold embellishments in nearly every surface and it has over 23,000 square feet of interior space. The home accommodates room for many guests with 10 bedrooms and 11 baths. The pool is custom mosaicked and there is a chef ready kitchen, equipped for commercial cooking as well as private. If you are looking for the most historic and luxurious home in the heart of South Beach, this is the place. For more information on attending this auction, contact us today!