Jordache Enterprises Refinances Historic Versace Mansion in Miami for $44.7 Million
The Nakash family’s Jordache Enterprises has successfully refinanced the iconic Versace mansion, located at 1116 Ocean Drive in Miami Beach, with a new loan totaling $44.7 million. According to property records, HSBC provided an additional $23.7 million to supplement the existing debt of approximately $21 million from a 2021 loan. The 23,462-square-foot oceanfront estate, currently operating as The Villa Casa Casuarina, features Gianni’s restaurant, a ten-room hotel, event spaces, and a spa. Originally built in 1930 by Alden Freeman, the property was purchased and renovated by fashion designer Gianni Versace in the early 1990s before his tragic death in 1997. The Nakash family acquired the mansion in 2013 for $41.5 million, converting it into a luxury hospitality asset. This transaction highlights the continued financial activity surrounding one of South Beach’s most prominent landmarks. The Nakash family maintains a significant real estate portfolio in the area, including the Beacon Hotel, Hotel Victor, and the Setai, alongside their interests in the fashion industry through Jordache Jeans.
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Jordache Enterprises Refinances Historic Versace Mansion in Miami for $44.7 Million
The Nakash family’s Jordache Enterprises has successfully refinanced the iconic Versace mansion, located at 1116 Ocean Drive in Miami Beach, with a new loan totaling $44.7 million. According to property records, HSBC provided an additional $23.7 million to supplement the existing debt of approximately $21 million from a 2021 loan. The 23,462-square-foot oceanfront estate, currently operating as The Villa Casa Casuarina, features Gianni’s restaurant, a ten-room hotel, event spaces, and a spa. Originally built in 1930 by Alden Freeman, the property was purchased and renovated by fashion designer Gianni Versace in the early 1990s before his tragic death in 1997. The Nakash family acquired the mansion in 2013 for $41.5 million, converting it into a luxury hospitality asset. This transaction highlights the continued financial activity surrounding one of South Beach’s most prominent landmarks. The Nakash family maintains a significant real estate portfolio in the area, including the Beacon Hotel, Hotel Victor, and the Setai, alongside their interests in the fashion industry through Jordache Jeans.
Commercial Observer