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Miami Real Estate - Miami Real Estate news

Thuesday, may 12, 2010

Versace mansion assessed for $10 million in taxes

Miami-Dade records show that the landmark Miami Beach real estate property, the Versace mansion, in 2009, was assessed for $10.7 million in back taxes. The high assessment was because the Miami Beach property was oceanfront.

The claim was filed to collect $226,248.02 in back taxes owed by the convicted Fort Lauderdale lawyer Rothstein, the Ponzi schemer, and others. Rothstein was an investor in the Miami Beach hotel and restaurant on 1116 Ocean Drive.

The claim was filed this week in Fort Lauderdale federal court and stated that no payments had been received for 2009 on the Miami luxury home. The Miami Dade tax collector is trying to collect taxes that are owed through the U.S. government's action to recover millions of dollars in cash, property and other assets from Rothstein. In January, Rothstein pled guilty of racketeering conspiracy charges from the sale of $1.2 billion in fake legal settlements.

Rothstein used some of the illegally earned money was used to open the Bova restaurant at the Versace mansion, a Spanish-Mediterranean style Miami Beach property call Casa Casuarina.

In 2000, Peter Loftin, a telecommunications entrepreneur, paid the Versace family $19 million for the 1930 Miami luxury home. Loftin operated the Miami Beach real estate property as a private club, Miami Beach boutique hotel and restaurant. Rothstein's interest was in the restaurant.

Loftin is operating the Miami luxury home as a Miami Beach hotel. The Versace's Roman-style suite rents for $5,200 a night. Restaurateur, Barton G. Weiss has signed a 10-year lease to take over the property, including a new restaurant.

 




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