Versace mansion sells after $83.5m price fall

After more than a year on the market, Miami’s Versace Mansion finally sold for $41.5m (€30.67m) — an $83.5m drop from the original $125m listing price.

The infamous property was bought by the Nakash family, owners of iconic ’80s denim brand Jordache. The Nakash’s company, VM South Beach, is the chief creditor in the mansion’s foreclosure case.

The Versace Mansion had trouble finding a buyer from the start. Originally listed for $125m in Jun 2012, the home was the most expensive in America at the time.