SOUTH BEACH

Former Versace mansion may feature art during Art Basel 2013

 
 
The Versace mansion in July.
The Versace mansion in July.
MARICE COHN BAND / MIAMI HERALD STAFF

mbrannigan@MiamiHerald.com

The new owners who closed Thursday on the purchase of the former Versace mansion are considering using the famed South Beach property to showcase artists during Art Basel 2013.

Joe Nakash, chairman of Jordache Enterprises who outbid Donald Trump for the 10-bedroom, 11-bath estate, told the Miami Herald that one idea under discussion is to feature young artists’ works during the big international art show in December.

“Also, we have an opportunity to put mature artists or a mature collection in there,’’ Nakash said.

On Sept. 17, the property at 1116 Ocean Drive fetched a high bid of $41.5 million at a bankruptcy auction from New York’s Nakash and Gindi families, who own the Hotel Victor next door. Their company is VM South Beach.

Trump, the real estate mogul and TV reality show personality, who sent his son Eric Trump, bid as high as $41 million.

Nakash said long-term plans for the mansion haven’t been set, but he reiterated that he hopes to cut a deal with the family of Italian designer Gianni Versace to use the famed name and operate a boutique hotel there in conjunction with the adjacent Hotel Victor. The Victor recently reopened after a major renovation of the 91-room, Art Deco property.

Nakash said he expects Versace family members “to arrive in November to talk to us about certain ideas,’’ like calling the property the Versace Villa. “Everything is premature,’’ he said.

Versace bought the property in 1992 and, according to the Jills Team at Coldwell Banker, which helped market it with Fisher Auction, “invested $33 million on expansions.’’

Versace was shot to death on the front steps in 1998.

Read more Breaking News - Business stories from the Miami Herald

  • U.S. economy grows at scorching 4 percent in 2nd quarter

    The much-stronger-than-expected 4 percent rate of annual U.S. economic growth from April through June, reported Wednesday by the Commerce Department, put to rest fears that the U.S. economy was slipping into low gear.

  •  
Shoppers in California

    Scorching 4 percent growth in Q2, optimism returns

    The much stronger than expected 4 percent rate of annual growth from April through June reported Wednesday by the Commerce Department put to rest fears than the U.S. economy was slipping into low gear.

  • Argentina is declared in selective debt default after talks fail

    Standard & Poor’s declared Argentina in selective default Wednesday afternoon after it failed to reach an agreement with American holdout creditors in the final hours of negotiations Wednesday. It marked Argentina’s second default in 13 years.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category