Inside the Gucci Family’s $35 Million New York City Penthouse
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The Italian fashion house Gucci might best be known for its high-fashion apparel and leather accessories, but the family behind the venerable label also has an impressive real estate portfolio. The fashion family’s New York City penthouse pied-à-terre is currently owned by sisters Alessandra and Allegra Gucci, but it was purchased in the 1970s by their father and former Gucci patriarch, Maurizio Gucci.
The duplex spans the entire 50th and 51st floors of the Olympic Tower at 641 Fifth Avenue, between 51st and 52nd Streets. Designed by the renowned architectural firm Skidmore, Owings & Merrill, the mixed-use glass tower was completed in 1974 and, in its heyday, attracted global billionaires, celebrities, and fashion designers.
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The Gucci penthouse covers 9,450 square feet and contains eight bedrooms, eight full bathrooms, and two powder rooms. The 50th floor houses all of the bedrooms and laundry, while the 51st floor is devoted to entertaining. Both floors have soaring 14-foot ceilings.
The Manhattan home has two elevator banks, one in each wing; one elevator leads to a foyer on the east, with another opening to the foyer in the west wing. There are two grand spiral staircases that connect the two floors. Each floor is wrapped in floor-to-ceiling windows with direct views of St. Patrick’s Cathedral, the Empire State Building, Rockefeller Center, and the Chrysler Building.
“The benefit of being on the 50th and 51st floor, is that you still have amazing views, but it gives you a sense of still being in the city rather than above it like you would be on the 90th floor,” says listing agent Bill Kowalczuk of Serhant, who is co-listing the property with the brokerage’s founder, Ryan Serhant. The spacious aerie has been on and off the market for several years; despite its significant time spent on the market, the $35 million price tag remains the same.
The 51st floor is quite impressive with its 66-foot-long living room. The light-filled space overlooks the city through floor-to-ceiling windows. Off the western side of the living room is a dining room with a bar and wine storage, which also has sliding doors to separate the spaces.
The living room also connects to a wood-paneled lounge or office through sliding glass doors. The intimate space includes one of the penthouse’s two wood-burning fireplaces—the only wood-burning fireplaces in the entire building—and a large skylight, a rarely-seen feature in a condo tower. There’s also a family room, a 500-square-foot eat-in kitchen with views over the city, a large pantry, and a staff kitchen/lounge.
Among the many bedrooms are two primary suites, each outfitted with wood-paneled walls, massive closets (one of them a circular walk-in!), and spa-like bathrooms with jetted tubs and saunas.
The penthouse retains many mid-century modern design elements and amenities of a bygone era but is the perfect canvas to create the ultimate trophy home in the heart of New York City. “When you walk in, you definitely feel the energy of the era in which it was built,” Kowalczuk says. “But there is a real opportunity for someone to make it their own. There are only a handful of Manhattan apartments with upwards of 9,000 square feet with this size of an entertaining space.”
The Midtown building was developed by Aristotle Onassis and was the original billionaires’ building. Several major fashion brands also moved their ateliers and offices into the mixed-use tower. Among the numerous wealthy, high-profile individuals who have maintained residences in the building are Ferdinand and Imelda Marcos, the former president and First Lady of the Philippines; the late billionaire arms dealer Adnan Khashoggi; socialite Cornelia Guest; and other international jetsetters.
Click here for more photos of the Gucci Penthouse.
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