Anyone who’s ever visited Italy has likely spent at least a few moments daydreaming about living there. Palazzo Ricci is a soon-to-launch private residence club that can make that dream a reality — 126 owners will own 14 private residences in a beautifully restored Italian palace in picturesque Casoli. Located in Abruzzo, Palazzo Ricci fractional owners will enjoy the stunning yet relatively under the radar region for at least 5.5 weeks a year with flexible booking and true Italian real estate ownership.
Palazzo Ricci is expected to open its doors in spring 2023 and is the brainchild of serial entrepreneur Mike Brosnan, who fell in love with Abruzzo and saw a serious business opportunity in the vacation home market. “Abruzzo is perhaps the most untouched, authentic and pristine region of Italy,” says Brosnan. “It’s rated in the Top 10 of best places in the world to retire, to invest in real estate and for its quality-of-life index.”
As the saying goes, location is everything when it comes to real estate and Palazzo Ricci brings a lot to the table in that regard. It sits high on a hill in Casoli steps away from the town’s medieval castle with views of the Apennine Mountains, Adriatic Sea and the Italian countryside. For future owners, the ocean and the mountains are both within a short drive giving the property year-round appeal for beach and winter sport lovers alike. On top of the striking natural landscape, Abruzzo is also famous for its rich history and culinary delights which include pasta, candy, saffron and truffles.
There’s a huge demand for vacation homes in Italy particularly from northern Europeans (hailing from the United Kingdom, Germany and Scandinavia) and Palazzo Ricci offers a convenient yet luxurious option for a second home. The property marries the perks of staying at a hotel — an on-site concierge, daily housekeeping, and grocery delivery — with the benefits of homeownership. Residences will be fully furnished with gourmet kitchens, fireplaces, washer/dryers and storage which makes packing for a longer stay so much easier.
The smallest residence at Palazzo Ricci has one bedroom while the largest is a three-bedroom penthouse/cottage. The residences come with balconies and terraces to soak up views of the surrounding rolling verdant hills. On top of the well-appointed residences, there will also be 10,000 square feet of private, an outdoor pool and fitness center gardens, Roman bath, and on-site recreational facilities. The 221-year-old Italian Palazzo is steeped in history and the building will be fully restored to reflect its illustrious past, as well as adorned with Italian artwork and décor for fractional owners to enjoy.