Miami Condo Market and Lifestyle Updates
Versace Mansion Could be Transformed into a Retail Flagship

Versace Mansion Could be Transformed into a Retail Flagship

by Sep Niakan | October 07, 2013

Could you one day walk into the Versace mansion to buy your next Apple product?

 The idea is not as far-fetched as you might first imagine.

When the famed Versace mansion recently sold at auction, speculation quickly began regarding the fate of the property. An investor group, VM South Beach LLC, ultimately walked away with the property. The group includes the Nakash family, of Jordache jeans fame.

The Nakash family beat out some hefty competitors to win the property at auction. Also in attendance at the auction was the son of Donald Trump, who represented his father at the auction and submitted a bid of $41 million. In the end, the Nakash family beat Trump's bid by a mere $500,000.

Initially, the head of Jordache Enterprises indicated possible plans for converting the property into a boutique hotel. The Nakash family already operates a hotel adjacent to the Versace property. Mr. Nakash even indicated that he planned to seek permission from the family of the late designer to license the Versace name for the proposed hotel. Hotel Victor, the Nakash-owned property situated adjacent to the Versace mansion, recently underwent a multi-million dollar renovation.

A hotel is not the only option for the property, however.

The director of real estate for Nakash Holdings, Jon Bennett, has also expressed an interest in potentially turning at least a portion of the mansion into a retail space.

Spanning 23,000 square feet and featuring 10 bedrooms, the property offers ample space. Possible options that have been tossed around include Victoria's Secret and Apple. Located at 1116 Ocean Drive, the mansion was first known as Casa Casuarina. Originally constructed in 1930, the property was later purchased by the famed fashion designer Versace, who unfortunately died just five years later.

Regardless of what the future may have in store for the mansion, the property remains a famed icon in Miami and has continued to be known informally as the Versace Mansion. Bennett has indicated that final plans for the property will include consideration regarding the unique nature of the property and the surrounding community. 

Recent posts

Real Estate News

Move over Edgewater condos, here come the hotels

by Sep Niakan | February 22, 2017

A previous blog on how a petition to privatize an alley adjacent to Cité Condo sparked rumors of a new hotel coming to Edgewater did spark another thought process. It seems the latest trend for developments in Edgewater is to either be a...


Where to Find the Best Latin and Caribbean Food in Miami?

by Sep Niakan | February 15, 2017

Miami has always been a melting pot of cultures. From the Bahamians that came to work at the Peacock Inn in the 1870s to influx of Cuban immigrants in the 1960s. Miami didn’t just welcome people with open arms, but also embraced their...


A Note from Sep: Valentine’s Day Thoughts in Miami, The Global City

by Sep Niakan | February 14, 2017

Valentine’s is just around the corner, and while most people equate Valentine’s Day with romantic love, I prefer to celebrate love in a broader sense. To me, it’s more about celebrating bonds and relationships of all kinds,...

Real Estate News

2017 is Going to Be a Renter’s Market for Downtown Miami Condos and Apartments

by Sep Niakan | February 12, 2017

If you thought living in Downtown Miami was a distant dream, think again. 2017 comes bearing great news for those who’ve always wanted to live close to the urban core but couldn’t afford it. You will now be able to rent a Downtown Miami...