Ms Cole said the buyer spent a lot of time on the Gold Coast and would use the three-bedroom residence as a holiday home.“They do like that part of Main Beach, Marina Mirage next door and the boating facilities,” she said. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Palazzo Versace is on Seaworld Drive at Main Beach.The penthouse, one of six in the five-star building, has parquetry floors, ornate ceilings and floor-to-ceiling windows framing Broadwater and city skyline views.Mrs Cole said it had been on the market before but she recently relisted it.As the 72 Versace condominiums are all on company title, transactions do not go on the public record.It is the third Palazzo Versace condo Mr Picone and his wife Adele have owned.Mr Picone entered the Gold Coast management-rights industry in 1984 and set a Gold Coast record in 2015 when he sold the rights to the Chevron Renaissance towers for $32.5 million. MORE NEWS: Honey Badger in ‘cracking’ photobomb effort It’s all class. What a view! Imagine waking up to this every day.“(The buyer) just loved the Versace lifestyle and what it has to offer,” she said.More from news02:37International architect Desmond Brooks selling luxury beach villa12 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“They were particularly drawn to the size of it and the location of it with the panoramic Broadwater views and the large marina berth.”MORE NEWS: See the impressive transformation of a Gold Coast beauty It’s luxurious at every turn.ONE of the Gold Coast’s biggest real estate heavy hitters has sold his luxury penthouse in a $5 million deal.An interstate buyer snapped up the Palazzo Versace apartment, which belonged to management-rights industry veteran Frank Picone.Lucy Cole Prestige Properties managing director Lucy Cole said the sale included the lavish condo’s furniture and marina berth.