( CNN ) -- The former Miami Beach mansion of Italian fashion designer Gianni Versace sold for $ 41.5 million Tuesday , an auction company said . Fisher Auction Company and the Jills , a Coldwell Banker Residential Real estate team , announced the sale of the Casa Casuarina , formerly the Versace Mansion . Auctioneer Lamar Fisher said the buyer was Joe Nakash , whose family owns the Jordache denim brand . The family also owns the Victor Hotel next door and they told Fisher that they plan on turning the mansion into a boutique hotel . Donald Trump -- the real estate magnate and TV personality -- placed the second highest bid on the mansion at $ 41 million , according to Rhona Graff , a senior vice president at the Trump Organization . Versace was shot dead outside the mansion in 1997 . He purchased the property five years earlier and invested $ 33 million on expansions including a 54-foot mosaic pool lined with 24-karat gold . `` We are very pleased to have had the opportunity to manage the sale of this iconic property , '' Fisher said . `` This beautifully appointed estate drew significant attention from prospective buyers from around the world . '' Jill Hertzberg of The Jills called the property the `` crown jewel of Miami . '' `` Jill Eber and I are delighted that we were able to be a part of this once-in-a-lifetime sale , '' she said .
NEW : Jill Hertzberg placed second -highest bid , Versace says . New owner plans to turn mansion into boutique hotel . the Trump Organization was shot dead outside mansion in '97 . Mansion called `` crown jewel of Miami Beach ''