January 19, 2010updated Feb 08, 2013

Palazzo Tornabuoni, Florence Releases a Limited Number of Apartments onto the Luxury Property Market

Florence, Italy – Palazzo Tornabuoni, a private residence club located in central Florence, Italy, which opened earlier this year, is showing signs of out-performing the downturn in the property market.

Developed by RDM (the real estate division of Florence-based Fingen Group), and Kitebrook Partners of Washington DC, Palazzo Tornabuoni co-owner and co-developer Byrne Murphy has announced plans to release a select number of apartments onto the market, with immediate effect. The move, which comes as Palazzo Tornabuoni enters its second phase, is due to the success Tornabuoni has achieved to date in selling out its first phase, and the significant interest it has received in the whole ownership of apartments.

Palazzo Tornabuoni, the 15th-century Florentine palace and home of the Medici family, took five years to restore with the collaboration of Michele Bonan, the award-winning and acclaimed Tuscan-born interior designer. Its contemporary design underpins Bonan’s signature style in creating “an environment in which the owner feels they belong…and are not just visiting.” This historical treasure trove is home to a central courtyard by Renaissance architect Michelozzo (1400), original 16th-century frescoes by Ciampelli, a baroque statue of Diana the Huntress by architect and sculptor Gherardo Silvani and an exquisite fireplace adorned with micro-mosaics by the miniaturist Rafaelli (c.1800).

There are a limited number of one- and two-bedroom apartments for sale, alongside the 20 apartments that are available to buy under its fractional ownership concept. Whole owners are eligible for Tornabuoni’s highly esteemed Club membership status providing access to an extensive array of facilities and services. Faciltiies include use of the Palazzo’s well appointed indoor and outdoor communal areas: a cigar room; lobby lounge and library; fitness, sauna and steam rooms; covered outdoor terrace and winter garden. Also, wine storage, access to the spa facilities at the Four Seasons Hotel Firenze, along with member transportation services can be arranged for additional fees. What is unique about the Palazzo is its distinctive Attaché Service, headed up by Florentine local Eleonora Lucifero. The Attaché Service ensures ‘entree’ into the contemporary Florentine lifestyle. Its provision runs the gamut from private vineyard tours, behind the scenes tours of Florence’s museums and galleries and bespoke tours of private art collections not available to the public, to the more everyday tasks of setting-up a bank account or acquiring an Italian phone number.

Palazzo Tornabuoni prides itself on how easily its private residence club eliminates many of the qualms and inconveniences associated with buying a home abroad. The properties are managed by Four Seasons Hotels and Resorts with available services to include housekeeping, maintenance, concierge and Attaché.

The elegantly designed residences on the market feature elaborate stuccoed ceilings through to individually designed BOFFI kitchens, Bang & Olufson equipment and are fully-furnished by Bonan; or alternatively the whole ownership residences can be completely designed to the owners’ specifications. Each property is set amongst Palazzo Tornabuoni’s various courtyards and terraced gardens, including its beautiful and elaborate ‘Winter Garden’ and certain residences feature roof-top views of Florence and the Duomo. Prices start at €1.6m ($2.3m) rising to €5m+ ($7.3m+) with the addition of annual membership fees.