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October 10, 2013

Former Versace mansion may feature art during Art Basel 2013

The new owners of the former Versace mansion are mulling ideas to feature artists at the iconic estate during Art Basel 2013.

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.

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