The Nakash family, owners of the Versace Mansion, is expanding their portfolio with The Orchid House Hotel at 1350 Collins Avenue in Miami, in the heart of South Beach’s resort zone.
Nakash paid $6 million for the 1930s Art Deco boutique hotel which includes three villas, a courtyard, a swimming pool, and a two-car garage.
The Orchid House does not have a past as spectacular or macabre as the original Versace Mansion where Gianni Versace was infamously shot on its steps in 1997. Both buildings were created by the same architect, Wallace Tutt.
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The Casa Casuarina operates as a hotel under the name Casa Casuarina at the Versace Mansion on Ocean Drive, which is renowned for its Mediterranean revivalist architecture and history. According to Vogue, after the White House and Graceland, it is the third most photographed residence in the United States.
South Florida Business Journal stated at the time that Joe Nakash outbid former president Donald Trump’s son Eric to acquire the property in a bankruptcy auction for $41.5 million in 2013. Nakash was unable to get the Versace name rights as he had anticipated.
Nakash is an Israeli-American entrepreneur who launched the multinational apparel label Jordache Enterprises. Locals in Miami recognize the family for owning many Art Deco hotels.
According to Lee & Associates, who arranged the transaction, the Orchid House hotel may be turned into a private club or apartment. According to Commercial Observer, Matthew Rotolante and Rodrigo Calderon represented the Nakash family in negotiations.
Rotolante stated in a statement, “This acquisition is another example of the strong countrywide partnership that distinguishes our company from its competitors.”
“This property gives the buyer with another Art Deco hotel to add to its current portfolio in the neighborhood. Such opportunities to obtain pearls in the center of South Beach do not arise frequently.”