The South Beach, Florida, mansion once owned by Italian designer Gianni Versace - and the place he was fatally shot - is headed for the auction block.
The extravagant ten-bedroom home, known as Casa Casuarina, was originally built in 1930 and
features a 54-foot long mosaic pool lined with 24-karat gold, numerous frescos, ornate statues, arched doorways and an open air courtyard.
Fisher Auction Company is handling the sale, which is scheduled for September 17.
The 23,000-square-foot mansion had previously been listed for $125million, before the price was slashed in November to $100million, and again in May to $75million.
In 1997, the 50-year-old Versace was killed in front of the property by a man who later committed suicide. Tourists can still routinely be spotted taking photos in front of the house.
The property had been operating as a ten-room boutique hotel but had closed.
The house - whose most recent owner was telecoms magnate Peter Loftin - had its asking price cut by $50million after failing to find a buyer for more than a year.
He initially asked $125million for the property, making it the most expensive house on the market when it was first put up for sale a year ago.
But in November he was forced to take $25million off the asking price, and he then lowered it by another $25million six months later.
Mr Loftin bought the luxury mansion in 2000, three years after Versace's murder, and converted the residence into a boutique hotel and private club in 2009.
Those who have toured the incredible property maintain that the once gold-lined swimming pool and museum quality frescoes are just a few of the lavish features that contribute to the hefty price tag.
In fact, such is its value, property experts refer to the luxurious villa as a 'trophy property'.
The now legendary Italian designer bought Casa Casuarina in 1992 for just under $10million after supposedly passing by and falling in love with it.
Originally built in the 1930s by architect Alden Freeman, the Miami Beach property was somewhat dilapidated until Versace invested $33million into restoring and improving it.
Once an architect himself, the flamboyant designer added a 6,100-square-foot south wing and a 54-foot pool lined with 24 karat gold.
The impressive courtyard he covered in thousands upon thousands of individual mosaic tiles while elaborate frescoes were painted across the property's walls and ceilings.
Icon: Missed by the fashion world, the late Gianni Versace was once an architect
Icon: Missed by the fashion world, the late Gianni Versace was once an architect
Indeed it was Versace's pride and joy until the fateful June day of 1997 when Andrew Cunanan assassinated him in cold blood on the very steps of the house.
When Donatella Versace scrambled to sell off the designer's assets, Mr Loftin gained from a quick bargain and bought the villa for a cool $20million.
After residing there himself for a number of years, he turned the opulent property into a boutique hotel.
The property is now known as Villa by Barton G after the events impresario Barton G Weiss who renovated and re-styled it .
Nowadays, according to the hotel's website, the decor 'takes up style where fashion designer Gianni Versace left off.'
Boasting 23,400 square feet, the ornate house includes seven fireplaces, a guest house and a parking garage large enough for a dozen cars, and all within a one acre plot.
For the past three years hotel guests have enjoyed the surrounding attractions of Miami's historic Art Deco district while re-energizing from the day poolside or in one of two of the residence's lounges.
Under the hammer: Gianni Versace's former home
in South Beach, known by most as Casa Casuarina, is set to be put up for
auction after failing to sell at its listing price of $75million
Design marvel: Though the designer behind Villa
by Barton G, refurbished the 23,000 square foot space, the style is very
much in keeping with the lavish tastes of its former owner
Palatial: Peter Loftin, a telecom entrepreneur,
bought the mansion in 2000 and resided there before its conversion into a
boutique hotel in 2009
Bargain? In June, the lavish house was available for $50million less than it originally cost
Expansion: The home was totally remodelled by Versace himself after he fell in love with the property
Unique: There are not many homes as utterly lavish as the house where Versace lived until his death
Pool: But only an extravagant multi-millionaire could afford to buy the Miami Beach mansion
Dark past: It was outside this house where legendary designer Versace was killed by a lone gunman
Boutique: The Versace motif remains on the floor
of one of the hotel suites, a tribute to the designer who spent
$33million renovating and expanding the property after he bought it in
1992
Prints and patterns: The villa was originally
built in the 1930s by architect Alden Freeman as an homage to the oldest
existing house in the western hemisphere in Santo Domingo
Lavish: The hotel still features the murals and
frescoes painted on the walls and ceilings by Mr Versace, a detail that
contributes to the hefty price tag
Ocean view: Villa by Barton G looks out onto the
Atlantic from its Miami Beach location, an exclusive section of the
South Beach strip
A step in the wrong direction: Mr Versace was
tragically killed at the entrance to Casa Casuarina in 1997 by Andrew
Cunanan who committed suicide shortly after
Illuminating: A skylight brightens up the
original interior designed by Gianni Versace in the famously ornate home
that he bought in 1992 after falling in love with the property
Grandeur: The couturier added a
6,100-square-foot south wing to the property and covered the courtyard
in thousands upon thousands of individual mosaic tiles
Kids room? The property cost Mr Versace
$10million and though he plugged $33million of his own money into its
renovation, after his death his family made a quick sale for only
$20million to its most recent owner
http://www.dailymail.co.uk