Salvatore Ferragamo’s son Massimo sells NYC penthouse for $11M
The son of late renowned Italian fashion designer Salvatore Ferragamo, Massimo, sold his Manhattan penthouse for $11 million.
The 5,800-square-foot property, located on the Upper East Side, is a seven-bedroom, seven-bathroom duplex featuring a spiral staircase, a library, a gym and staff quarters. The apartment also has two main suites, a 3,000-square-foot rooftop terrace and a covered dining area. The rooftop space, a rare feature in the Park Avenue area, can be accessed through a sunroom with curved glass walls, a draped fabric ceiling and a couch that spreads along the round room. The property is located in a Georgian-style building built in the 1920s and offers amenities such as white-glove services, including a doorman and elevator operator.
The building is only a few blocks away from Central Park and is also close to the Ferragamo store on Fifth Avenue.
Massimo, the chairman of luxury goods high-end retailer Ferragamo USA, originally listed the property two years ago for $18 million but had to drop the price numerous times over the years to find a buyer. He lived for more than two decades in the Park Avenue apartment before deeming the property surplus to requirements. Cybele Kadagian of Douglas Elliman brokered the $11 million deal. The buyer’s identity has not been revealed.
Although parting ways with this property, Ferragamo is still the owner of the Castiglion del Bosco golf course, resort and winery in Tuscany, Italy. That resort includes 11 stand-alone villas restored by Ferragamo after he purchased the property almost two decades ago in 2003.