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Former home of Gianni Versace listed for sale

June 15, 2012 - News sources are buzzing that the home of late fashion designer Gianni Versace has been listed for sale. He purchased the home in 1992 for $10 million and spent more than $33 million on renovations and expansions. Buyers can start moving boxes into the enormous mansion after paying the paltry $125 million asking price.

Versace was a designer of luxury clothing and accessories but was killed outside of the Miami mansion in 1997. The estate then sold in 2000 for $20 million to buyer Peter Loftin, an entrepreneur. He then transformed the mansion into an affluent hotel called Villa by Barton.

The home offers 19,000 square feet of living space including 10 bedrooms and 11 bathrooms. Some notable features of the estate include a 54-foot mosaic-tiled swimming pool, statues, multiple courtyards, fountains and arched doorways.

Photos of the home-turned-hotel showcase elaborate outdoor amenities and decor while murals are painted on walls throughout the home while crown molding, lighting and other design details mimic those of museums.

Many real estate professionals predict buyers will be calling for movers in no time, but may or may not continue to run it like a hotel.

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