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The penthouse that Gucci built

The penthouse that Gucci built

Sisters Alessandra and Allegra Gucci are the great granddaughters of Guccio Gucci, the founder of the Gucci fashion house producing designs that have been staples of the wealthy for three generations.

The sisters’ lives are now comfortably settled after inheriting millions from their father, Maurizio, after he sold his share of Gucci to an investment firm in 1993 for a reported $170 million. A known playboy and flagrant spender, it was said that he was $40 million in debt at the time, forcing the sale of the iconic fashion house.

In 1995, he was gunned down outside his office in a gangland-style murder. Since 1985, when he walked out on his wife, Patrizia Reggiani, and his daughters for a younger woman, the sisters had been living with their mother.

In 1998, Patrizia was convicted of hiring a hit man to kill Maurizio, claiming she was angry about receiving only $650,000 in the divorce settlement. She was released on parole in 2014 after serving 16 years.

The two-story Olympic Tower penthouse in New York City was purchased in the 1970s by Maurizio and is set up as two units, each with kitchens, fireplaces, private elevators and stairwells. The combined units contain eight bedrooms and 10 baths encompassing 9,500 square feet.

Alessandra and Allegra originally listed it in the summer of 2015 for $45 million, but took it off the market, changed agents and relisted it in June at $35 million — a price more in line with others in the building.

Located on the 50th and 51st floors with 14-foot-high glass walls, the duplex has dramatic city and river views with sunny east, south and west exposures. The two master suites each have walk-in closets, a dressing area, jetted tubs and a sauna. The panelled den has a wood-burning fireplace and a 16-foot skylight and the eat-in kitchen has high-end appliances, a service kitchen, pantry and views of the Empire State Building.

The Gucci sisters have listed their New York City Fifth Avenue penthouse in the white glove-serviced Olympic Tower for $35 million.

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Source: Top Ten Real Estate Deals,