Ariel Nakash & Joseph Nakash Refinance The Villa Casa Casuarina With $44.7M Loan From HSBC
1116 Ocean Drive
$44,700,000
$1,905/SF
Building Size
23,462 SF
Asset Type
Single Family
Closing
May 8, 2026
AI
The property involved in this transaction is a single-family asset located at 1116 Ocean Drive in Miami Beach, FL. The square footage of the property is 23,462. The Nakash family, through Jordache Enterprises, refinanced the historic The Villa Casa Casuarina, originally known as the former Gianni Versace mansion, with this transaction.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $44,700,000
- Address: 1116 Ocean Drive
- Market: Miami Beach, FL
- Lender: HSBC
- Landlord: Ariel Nakash & Joseph Nakash - Jordache Enterprises
- Loan Type: Refinance
Ariel Nakash and Joseph Nakash represent Jordache Enterprises in this refinancing deal. The Nakash family acquired the property in 2013 for $41.5 million and operates it as a 10-room hotel, featuring Gianni's restaurant, an event space, and a spa.
Players
Ozona Single Family Market Snapshot
Boundary boundary · Single Family · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93