Luxury Lifestyle, Design & Architecture blog

 Gianni Versace’s former mansion on the Ocean Drive, Miami is headed for the auction block by the order of the US Bankruptcy Court. The villa has some sad history associated with it as the fashion icon Gianni Versace was shot dead in 1997 on its steps. The company that is managing the sale of the trophy home has assessed the value of the property to be above $50 million. Apart from its history, the mansion’s location also adds to its value as it is located just a stone’s throw from the beach on Miami’s Ocean Drive tourist strip. The palatial Miami villa also has several outbuildings on the premium property. The Mansion and its Outbuildings are Well Preserved The property is considered to be the Crown Jewel of Ocean Drive and is surely one of the most coveted trophy properties worldwide. Understandably the property is very elegant and stylish as it belonged to Gianni Versace. Called Casa Casurina, it is a one of a kind property as it retains all the Versace design elements. I...

The financial downturn has hit the real estate and the hospitality industry and luxury hotels the hardest. Even with the economy stabilizing somewhat these sectors are finding it hard to bounce back. For them, the priority still is to cut losses and consolidate their position to take advantage of opportunities in future.  The Palazzo Versace hotel in Dubai has cut the price of its apartments by half. A high number of defaults have meant that several properties in the Dh2 billion (US $544.4 million) development have come back to the market with scaled down prices. This is being pitched as a great opportunity for buyers as there has been no skimping on the fittings, features, furnishings or accessories including the $120 drinking glasses designed by the Italian designer Versace himself. The project was promoted by Emirates Sunland Group before the downturn set in. Buyers from the UK, Russia and around the region showing great interest in the project 80% of th...