Home of Gianni Versace in Miami to reopen as hotel

The former Miami home of Italian fashion designer; Gianni Versace, will reopen as luxury accommodation after being sold to a hotel group. 

The property, located on the city’s popular Ocean Drive, was bought by VM South Beach LLC, a company affiliated with New York’s Nakash family, which owns Jordache Enterprises, for $41.5 million (£26m).

The Mediterranean-style mansion has 10 bedrooms, 11 bathrooms and a swimming pool with 24-carat gold decoration.

The property was auctioned off as part of a bankruptcy proceeding by its current owner, the telecoms magnate Peter Loftin.
Source: Telegraph