Palazzo Tornabuoni is a private residential building created through the restoration of a magnificent 15th century palace in the heart of Florence. One can either become an individual owner of a Private Residence or a Member in the Palazzo Tornabuoni Residence Club, which affords residency rights to a selected number of Club Residences within the Palace.
There are 37 apartments of which 27 are Private Residences and 10 are Club Residences.
Private Residences comprise one, two and three-bedroom apartments, which are offered fully furnished.
Club Residences are reserved for the exclusive use of who became member of Palazzo Tornabuoni who have subscribed a Club Membership. Both one and two-bedroom Memberships are available. All Memberships allow Club Residence Members flexible access to a range of apartments within their chosen category. No more than eight Memberships per apartment are issued, to ensure maximum availability.
Private and Club owners alike benefit from management by Four Seasons Hotels and Resorts and use of the communal amenities and services within the Palazzo.
Palazzo Tornabuoni is a joint venture between Fingen Group in Florence and J. Byrne Murphy of Kitebrook Partners, Washington DC.
Fingen, founded in 1979, owned by Corrado and Marcello Fratini, focuses on three areas: Fashion, Retail and Real Estate. Fingen has a long tradition of building international partnerships with brands including Four Seasons, McArthur Glen, Calvin Klein, Jean Paul Gaultrier and Guess. The Fingen Group is one of Tuscany’s leading companies, with 1.600 employees worldwide.
Kitebrook Partners, headquartered in Washington, D.C., is headed by J. Byrne Murphy, one of the founding principals of McArthurGlen Europe, where he formed a joint venture with Fingen for McArthurGlen Italia. Kite brook has more than twenty years of experience in international property investment and development in the United States and in Europe. Prior to this latest venture, Murphy was Deputy Chief Executive and cofounder of BAA McArthurGlen, Europe’s largest owner and operator of designer outlet centres.
Palazzo Tornabuoni’s Club Attaché service has been created to help residents feel at home in the city, putting the private world of Florence and Tuscany at their fingertips. Private introductions and entry to wine-tasting tours and estates, palaces and villas, private chefs, and preferential access to private art collections, galleries and museums can all be arranged, while tours with palace ‘friends’ – (professors or experts, not necessarily guides), will all serve to help Members of the Club experience the private life of Florence as a resident in their home away from home.
In addition, the service extends to tours of other cities and towns, country weekend outings – riding through private estates or hunting wild boar, invitations to previews of art and fashion collections. All to ensure that owners are able to experience the best of the region. Collaborating with the front desk, the team will also handle such five star concierge wishes as bookings for restaurants, theatre, tennis, golf and riding or child care, cooking classes, airport transfers, pre-arrival grocery shopping and valet parking.
Of course some owners will simply wish to maintain the privacy and independence that their apartment in Palazzo Tornabuoni brings; as ever, there is no obligation on owners to use the Club services.
The Club Administrative Body, as a sole Director or as a Board of Directors, proposes budgets and fees on an annual basis. Day to day management of the Club will be provided by Four Seasons Hotels and Resorts.
Buyers have included a mix of European nationalities including UK, Dutch, Belgian and German, some Italian, US and Russian. Essentially, for the very finest quality of apartments and service, one would expect demand from all regions, with buyers at the upper end looking for trophy assets in the most established real estate locations.
Why does the building offer both Private Residence whole ownership and Club Residence Member ownership, and how do these co-exist?
Palazzo Tornabuoni is a residential building designed for the international market, and as such the opportunities reflect the likely usage of different buyers. In Europe, whole ownership is the preferred route of the majority, and hence why the majority of the building is offered under this structure.
However, Florence is also hugely popular with visitors and potential owners beyond Europe, and in North America in particular the Four Seasons management creates additional resonance. For such markets, and for an increasing portion of the international market, shared ownership through a Club structure offers a sensible and attractive option. To be clear however, owners of the apartments, and have an interest in supporting and enhancing the building through their use, rather than simply passing through as a guest.
Individual apartment prices are available on request. As a guide, the apartments range from €975,000 to €5,000,000.
Is there a limit to the time a Private Residence owner can stay in their residence? If so, is there a charge for staying past a certain number of days?
Since the Private Residences are wholly-owned, there is no limit to how much time an owner can occupy their residence. There are no different charges related to stays for Private Residence owners versus Club Residence owners, other than the personal choice of housekeeping services.
Owners of the Private Residences will be able to list and sell their apartment as they choose, although the international agents for Palazzo Tornabuoni will offer a re-sales service alongside the sale of ‘primary’ units in the building.
Palazzo Tornabuoni will offer only eight Memberships for each Club Residence. There are currently 10 Club Residences available for Club Membership.
Yes. A Membership can be held in a corporate name.
Yes. Members can form partnerships to share a Membership.
- Remove the worries and inconveniences normally associated with a vacation residence
- Provide generous and flexible vacation use
- Offer an abundance of amenities and services rarely provided by a vacation home
- Significantly reduce the financial burden of vacation-home enjoyment
As often as you wish, subject only to the Club’s reservation procedures. As a Club Member, you have the flexibility of reserving vacations well in advance, as well as reserving with short notice. There is no limit to the amount of use. You pay only the published housekeeping fees whenever you holiday at your Club.
No. Timeshare development defines the ownership of a specific block of time associated with a specific residential unit. At Palazzo Tornabuoni, Club Members have access to all Club Residences. Club Members may use them any time they wish, subject only to reservation policies.
The reservation policies allow Club Members to reserve visits well in advance, while also accommodating more spontaneous visits. Each November, Club Members reserve their planned vacations for the coming year. Additional vacations may be reserved throughout the year. Club Members are also able to request consecutive vacations to enable longer visits, or to request multiple residences for the same time in order to host friends and family.
Palazzo Tornabuoni is designed to equitably allocate peak-period vacations when demand for lodging may exceed supply. A Rotating Priority System® ensures all Members will have equal access to high-demand periods over the years. This system has proven to be fair and equitable in active Clubs around the world.
No. To provide greater flexibility and availability, Members have equal access to all Club Residences of their residence category (studio, one-bedroom, two-bedroom). Special requests for a specific Club Residence will be granted whenever possible.
Yes. Because Club Members are not restricted to a particular residence, they can reserve more than one Club Residence in their category at any given time, if sufficient Club Residences are available.
Yes. Club Members may invite guests to stay with them during their vacations and they may also invite unaccompanied guests to use any of their confirmed vacations without a guest fee. Stays in Club Residences can be given as gifts, or donated in charity auctions.