The famously extravagant South Beach mansion once belonging to the late and great fashion designer, Gianni Versace, has been put on the market for a mind-blowing $125million.
Known as Casa Casuarina, the ten bedroom 11 bathroom palace on the exclusive Miami Beach strip of South Beach is being sold by its current owner, telecom magnate Peter Loftin.
The telecom entrepreneur bought the luxury mansion in 2000 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', reports the Wall Street Journal.
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 $125million price tag
The now legendary Italian designer bought Casa Casuarina in 1992 for just under $10million after allegedly 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 Mr Versace invested $33million into restoring and improving the property.
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
Once an architect himself, the flamboyant designer added a 6,100 square foot south wing and a 54ft 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.
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
Residential palace: The one acre property featured ten bedrooms, 11 bathrooms, seven fireplaces, a garage for 12 cars and a guesthouse
Indeed it was Mr 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.
Icon: Missed by the fashion world, the late Gianni Versace was once an architect
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 23,400sq 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-energising from the day poolside or in one of two of the residence's lounges.
Coldwell Banker's Jill Eber and Jill Hertzberg, known to many as 'The Jills' are representing Mr. Loftin in the sale.
'Miami is now seeing prices like it's never seen before, with an influx of international buyers, so it's the perfect time to sell this trophy property,' Ms Eber told the Wall Street Journal.
Frescoed bedrooms, a gold kitchen and a Medusa mosaic in the courtyard: Lavish Miami mansion, where Gianni Versace was killed, hits market for $125m | Mail Online