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Versace Villa Drops 20 Percent, Still a Staggering $100M

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In June, Casa Casuarina, the Miami Beach villa once owned and souped up by the late fashion juggernaut Gianni Versace, hit the market for an eye-popping $125M. Well, that starry-eyed ask didn't last too long: after less than six months on the market, the mansion—which was converted to an ultra-luxury hotel in 2009 by telecom impresario Peter Loftin—has plunged by $25M to $100M. While living at Casa Casuarina, Versace poured some $30M into ostentatious details like a "54-foot-long mosaic-tiled pool lined with 24-karat gold," so it made sense that the villa, with 10 bedrooms and 23,000 square feet, was originally tied, price-wise, with Los Angeles' equally lavish Fleur de Lys as the most expensive listing in the country (and one of the most expensive in the world). Now there are a number of megamansions—one in Bel-Air, Calif., and two in Beverly Hills—that are being unofficially shopped around for $150M, putting even Fleur de Lys to shame.
· Just $100 Million: Price of Versace's Former Home Is Cut 20% [WSJ]
· Versace's Miami Villa Tied for Most Expensive Home in U.S. [Curbed National]
· All Blockbusters Coverage [Curbed National]