Versace Mansion Sold For $41.5 Million To Become Miami Hotel

The former home of Gianni Versace was auctioned off on Tuesday and sold to the top bidder for $41.5 million. Donald Trump lost out to Joe Nakash, chairman of Jordache Enterprises, who plans to turn the extravagant property into a boutique South Beach hotel. Nakash hopes to gain rights to the Versace name for the venture.

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