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Versace Mansion Auctioned Off for $41.5 Million

Marc Serota/Getty Images(MIAMI) --  The south beach mansion, previously owned by designer Gianni Versace, has sold for $41.5 million in a bankruptcy auction Tuesday morning.

With bidding starting at $25 million, the Nakash family outbid Donald Trump's son and Palm Beach Polo owner Glen Straub.

President of New York-based Jordache Enterprises, Joe Nakash, told South Florida Business Journal, the family plans to run the mansion in connection with the Hotel Victor, which they already own next door to the property at 1116 Ocean Drive.

The palatial mansion now known as Casa Casuarina, has been a Miami Beach tourist spot since the iconic designer Gianni Versace was shot and killed on its front steps in 1997.

Copyright 2013 ABC News Radio

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