PHOTO: CASA CASUARINA LLC/AP
The current owner of the mansion once owned by Gianni Versace, Casa Casuarina LLC, filed for Chapter 11 bankruptcy protection in an effort to stave off foreclosure. Casa Casuarina LLC is owned by Peter Loftin, a telecommunication magnate who purchase the home in 2000. The mortgage to the property is held by VM South Beach LLC, which is owned by the family that created Jordache jeans.
The mansion was converted to a hotel in 2009 and was listed for $125 million last year which price was reduced to $75 million in May after no buyers came forward. By filing for bankruptcy protection, Casa Casuarina will continue to seek a buyer instead of going into receivership.
The mansion was built in 1930 and has 10 bedrooms, 11 bathrooms and opulence frescos and statues and a huge mosaic pool with Versace's trademark medusa logo in the pool grounds. See photos of the mansion here. The home made international news in 1997 when Gianni Versace was murdered on its steps.
Read more:
WSJ: Owner Places Versace Mansion in Bankruptcy
Mail Online UK: Designer discount: $50 million slashed off price of mansion where Gianni Versace was shot dead (but it will still set you back $75 million)
NY Daily News: Versace mansion hits market for $125 million
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