Gianni Versace Mansion Hits Miami Market for $125 Million

The Gianni Versace mansion in Miami has hit the market for $125 million.

Versace bought the home for about $10 million back in 1992 and then added $33 million in improvements, including another 6,000-square-foot wing on the home. The 10-bedroom, 11-bath home has been owned by telecom entrepreneur Peter Loftin for the last several years. After living in the home until 2009, Loftin turned it into a hotel known as The Villa by Barton G. Loftin purchased the property in 2000 for $20 million.

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