Massimo Ferragamo Sells Manhattan Apartment for $11 Million

The son of late Italian fashion designer Salvatore Ferragamo and the U.S. chairman of his father's eponymous company, Massimo Ferragamo, has sold his 5,800-square-foot Manhattan apartment for $11 million. The executive first listed the place two years ago for $18 million, and subsequently dropped the price multiple times. It was last listed at $12.8 million.

Located on the Upper East Side, the home is a seven-bedroom, seven-bathroom duplex featuring a spiral staircase, a library, a gym, and staff quarters. It has two main suites, and ample outdoor space in the form of a 3,000-square-foot rooftop terrace with a covered dining area. This is accessed through a picturesque sunroom with curved glass walls, a draped fabric ceiling, and a couch that provides seating all along the perimeter of the round room.

The decor is quite traditional throughout the dwelling, with wood paneling and built-in bookshelves in the library. What's more, there's wainscoting and crown molding in many of the 17 rooms, a curved staircase with a wooden banister in the front entryway, and a fireplace with a wooden mantel as well as a lampshade chandelier in the formal dining room. The apartment is located in a Georgian-style building that was built in the 1920s and offers amenities like a doorman and an elevator operator.

It is not fully clear where Ferragamo will reside now that his apartment has sold, but he is the owner of the Castiglion del Bosco golf course, resort, and winery in Tuscany. The resort is home to 11 stand-alone 17th- and 18th-century villas that were restored by Ferragamo after he purchased the property in 2003.

Originally Appeared on Architectural Digest