Grace Kelly's Former Building Lists $28M Penthouse With Three Outdoor Showers

A duplex penthouse at 988 Fifth Avenue, the building where Grace Kelly lived before becoming Princess of Monaco, has been listed for $27.95 million. The 6,000-square-foot residence features wraparound terraces with Central Park views, three outdoor showers, and a wet bar beneath an old water tower. Former Loro Piana (USA) CEO Pier Luigi Guerci transformed the space from a warren of staff rooms into a retreat with cashmere-lined wardrobes, a double-sided fireplace, and a hammam-style shower. The 14-story Italian Renaissance–style building, designed by J.E.R. Carpenter, was converted to condos in the early 1980s. Sales are rare; two units traded in 2025 for $16.25 million and $17.5 million after a decade without transfers. Other owners include the Republic of Italy and a biotech venture capitalist.