Will Casa Casaurina Go Fractional?
Casa Casaurina, the former home of South Beach home of Gianni Versace which is currently a luxury club, may undergo another evolution, into time-share units. According to the Miami Herald, the current owner, Peter Loftiin, is thinking of building new suites at the mansion and selling them as fractional ownership spaces. Loftin turned over the day-to-day running of the mansion to Destination Club Management and they are interested in building new units around the mansion's pool and courtyard. Of course there are the usual preservation outcries, even though Versace demolished a bit of South Beach history to create his home back in the 1980s. Casa execs say that there are no plans to bring fractional suites to the site but others have confirmed the rumor. Club members currently pay $35,000 per year and the suites are rented out at over $1,000 per night but the fractional suites would offer a chance to make even more money off the same location.