Miami Beach's Versace Mansion Sells For $41.5M At Auction

Law360, Miami (September 17, 2013, 7:06 PM EDT) -- Gianni Versace's former South Beach mansion sold at a bankruptcy auction Tuesday for $41.5 million to an entity owned by the family behind Jordache jeans, which also holds the mortgage on the property.

VM South Beach LLC, which holds a $31.5 million outstanding loan on the mansion, beat out two bidders, including Donald Trump, for the famed villa on Ocean Drive, which had been listed at $75 million before its owner, Casa Casuarina LLC, filed for Chapter 11 bankruptcy on July 1.

VM is controlled by...
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