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Versace Mansion Hits Market For Optimistic $125 Million Price

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The Ocean Drive dreamland of late fashion designer and decadent party boy Gianni Versace is on the market for an unfathomable (and probably unaffordable) $125 Million, setting the record for the most expensive residential listing in Miami history. Listed by "The Jills," a leading duo of Miami brokers who share a first name, some have already publicly called the price highly aspirational, concluding that the selling price will be much lower.

Neither new photography or brokerbabble have been put together yet to create a listing, and the Curbed Marketplace still lists the place as not for sale. The urban castle, created by Gianni himself, is on two Atlantic facing sites on Ocean Drive, and was built on the former sites of an art deco hotel (demolished for his swimming pool) and a mediterranean revival apartment building (this became the house). It's generally well known that the place is absolutely palatial, but hopefully we'll soon find out whether there is a chance the house is really worth that unholy sum, when the pics and brokerbabble from the Jills comes out.

· Gianni Versace's former Miami Beach house is $125 Million [Wall Street Journal]

Casa Casuarina

1116 Ocean Drive, Miami, FL 33139