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In 2000, the mansion was purchased by Peter Loftin for $19 million. He renovated the property for use as a boutique hotel, restaurant, and luxury event space. The restaurant was Il Sole at The Villa Casa Casuarina. The mansion was bought by VM South Beach LLC (owned by the Nakash family) [1] for $41.5 million in 2013. [10]
The property had a 10,000-square-foot (930 m 2) house, which Niami demolished. [1] [2] Construction began in 2014. [2] Workers removed 49,000 cubic yards (37,000 m 3) of dirt from the property in 5,000 truckloads, [3] a process which took two years to complete. [4]