Fashion executive Massimo Ferragamo is selling his sprawling Upper East Side duplex for $18 million.
The chairman of Ferragamo USA, the stateside arm of the famed Italian fashion house started by Ferragamo’s father, and his life Chiara are moving back to their native Italy. With sons off to college and plans to relocate to Tuscany, the family does not anymore need the 15-room co-op.
The two-floor residence combines the eighth and ninth floors of 655 Park Avenue with a winding staircase. The apartment, which claims some 5,800 square feet, came to be in separate installment, however. Ferragamo purchased a single unit in 1993 and then another in 1996 before combining them into a home of five bedrooms and seven baths.
Since its creation, though, the duplex has not undergone any major updates, having preserved its old-time and Old-World charm. The listing with Nest Seekers International’s Chase Landow and Ryan Serhant, nonetheless, comes with a pre-approved plans for renovation.
Currently, the abode features a country-style kitchen with tiled floors, a mahogany-paneled library, a stately formal dining room with a fire place, a solarium, and staff quarters as well as a 3,000-square-foot terrace – a rarity in New York, which Ferragamo would miss, according to the New York Times. There is also a basement storage unit and an intimate gym.
Ferragamo fist put the duplex on the market in 2010 for $16 million, but pulled it off after some eight months.