Venezuelan cuts price of Versace-style Gables mansion to $11.5M

The Venezuelan owner of a sprawling mansion in Coral Gables has cut his asking price by nearly $1.3 million.

He now hopes to rake in $11.5 million for the estate, which is located in the exclusive gated neighborhood of CocoPlum.

The home, at 2 Tahiti Beach Island Road, is a massive 16,662-square-foot residence that was built in 1996. Its style was inspired by Miami Beach’s glamorous Versace Mansion and was actually designed by the same architect, Massimo Comoli, who worked with Gianni Versace to renovate that home, according to its listing.

Italian mosaic tiles and fine artwork litter the home, and its plush finishes range from mosaics in the bathrooms to chandeliers in almost every room.

One of the home’s most distinctive features is its pool courtyard. The entire deck is a kaleidoscope of small tiles, and the pool itself is embedded with tiles that form four winged horses. Its hot tub is at the end of the courtyard, perched atop an elevated platform led to by double stairs.

Janet Ben Zvi of Douglas Elliman has the listing.

The home is owned by a Florida corporation named Forastero, Inc. Its managing member is Marie C. Vallejo. However, state records show Vallejo was only put in charge of the company in late 2014. When the home was first purchased, Venezuelan businessman Fernando Fraiz Trapote was at its head.

Trapote was the owner of such companies as the La Tele broadcast station, which was dissolved in 2014 following the installation of a government oversight board to investigate allegations of fraud and financial conspiracy against Trapote, according to multiple Venezuelan news outlets. — Sean Stewart-Muniz