On Thursday morning, Giorgio Armani announced the death of its namesake at 91 years old. His legacy in the world of fashion is virtually unrivaled as he built an empire that changed the industry, both in Italy and across the world.
Less acknowledged is Armani’s legacy in the world of real estate, which includes an assembly of lavish homes, a sprawling retail footprint and a dalliance in branded residences.
On the personal property front, Armani assembled a legion of luxury properties in far-flung corners of the world. He had an apartment in his hometown of Milan, but could escape to the island of Pantelleria at a moment’s notice. He owned seven homes on the island, according to Realtor.com, including Cala Gadir, which he purchased in 1979.
If Armani needed to go farther to escape, he could always go to Saint Tropez. Vogue Australia stopped by his home there in 2015, nearly 20 years after Armani purchased and began redesigning the property.
Armani also owned a pair of villas on the cliffside of Antigua, an island in the Caribbean. He purchased the villas known as Villa Flower and Villa Serena in 2006, making sure each was outfitted with a swimming pool, gym, spa, terrace and interior decor curated by Armani Casa.
Armani lived stateside, too. In 2019, Armani purchased a Central Park West condo from outgoing T-Mobile chief executive officer John Legere for $19.5 million, the Wall Street Journal reported. The one-time home of William Randolph Hearst was on the same floor as an apartment Armani already owned.
Of course, one of the more visible real estate signposts of Armani’s legacy are the many storefronts his brands occupy. As of March, there were nearly 200 Armani stores in the United States, according to ScrapeHero, including 37 in California and 15 in New York City.
Then, there’s the commercial real estate aspect.
The Giorgio Armani Residences at 760 Madison Avenue in Manhattan remains a top performer in the market. The building scored the city’s top weekly luxury contract four times over the last year. Sales launched in the summer of 2023 and quickly hit sellout status. Sale prices for the 10 units averaged just under $5,000 per square foot. Amenities at the building include a fitness center, landscaped terrace and residents’ lounge.
This fall, a development team, led by Vertical Developments, WellDuo, GCF Development and SP Developments was in the process of launching sales at the Armani/Casa Residences Pompano Beach, the second South Florida condo project for the luxury Italian brand.
The Armani brand was looking at residences beyond the United States’ borders, too. Last month, the luxury house released plans for branded residences in Ras Al Khaimah in the United Arab Emirates, Hypebeast reported.
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