Donatella Designs a Landmark

Versace set to design the interiors of 55 high end apartments in the New York Clock Tower building.

By Noel Bryan

It just isn't enough for the uber-wealthy that they have dresses and other ensembles designed by gamed Italian designer Donatella Versace. Now, as renovations to New York's Clock Tower building are set to proceed, we learn that the house of Versace has been asked to design the interiors for the building.

According to Reuters, Versace will be responsible for designing the interiors of 55 high-end apartments in the building. Donatella Versace, long known for her fondness of bold colors and love of gold accents, is said to be designing the interior of the club portion of the building. The 53 year-old sister of Gianni Versace has been the chief designer of the fashion line since his death and is responsible for much of the designes that the fashion house creates. The project also includes a massive penthouse apartment, though its designer has yet to be confirmed. While the price of the haute-couture redesign hasn't been confirmed, it's hard to imagine that an amount of less than 8 figures was involved.

It seems that ultra-lux brands are, as of yet, immune to the credit crunch since many high-fashion houses are reporting record earnings as of this quarter. A single gown from Versace can cost several thousand dollars, and the cost associated with having one of the top designers in the industry design your home is expected to be exorbitant. The head of Versace, CEO Giancarlo DiRisio has said that he believes Versace to be the right choice to design the interiors. He explained that Versace has done such work in the past, and brings the Versace commitment to excellence, and their experience working with craftsmen in luxury settings to the project.

This won't be Versace's first foray into the apartment and co-op market, either. Two years ago, Versace furnished and designed more than 30 apartments high above the Plaza Hotel. DiRisio says that this is the only project that the fashion house is working on with Africa Israeli. The Clock Tower was designed and built nearly 100 years ago, built by MetLife in 1909. It will continue, after its refurbishment, to be an important Manhattan landmark for decades to come. The total value of the Clock Tower development, after completion, will be in excess of 1 billion dollars.