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Restoring a 16-century Renaissance palazzo to its former glory took passion, patience, and panache. In the interview with our Head of Investor Relations Marina Salley the developer Massimo Dell’Aquila told us how he did it.
A conversation between our Head of Investor Relations, Marina Salley and Massimo Dell’Aquila
Written by: Bea Pablo, Staff Writer | May 2026
Inside one of Florence’s remarkable Renaissance-era buildings, a carefully restored sixteenth-century apartment reveals the delicate balance between historic preservation and modern living. In a conversation with our Head of Investor Relations, Marina Salley, Massimo Dell’Aquila, the developer who brought the former Renaissance palace in the heart of Florence back to its full glory, shared the story behind the restoration of two apartments inside the palace originally built by the architect Bernardo Buontalenti.
One of the restored residences is now part of the Equity Euro Fund. The three-bedroom apartment in Florence preserves many of the original elements discussed throughout the interview, including frescoes, original window proportions, and the historical layout of the apartment.
Massimo explained that he works in services for businesses and has a personal passion for architecture, interior design, and beautiful spaces. He described the project as something that happened “almost by chance” after an architect introduced him to the opportunity. The apartments had belonged to a former owner who wanted to pass them on to someone who could continue restoring and giving new life to the space.
Throughout the interview, Massimo discussed the complexity of restoring historic buildings in Italy, including the administrative approvals required for any intervention inside the apartment. The restoration took five years and required five different permits due to the challenges that emerged during the process, and the need to work closely with preservation authorities.
Rather than significantly altering the residence, Massimo explained that the goal was to create what he called a “conservative restoration,” remaining as faithful as possible to the original historical layout while preserving the frescoes and the apartment’s architectural character.
Editorial Note
The following interview was originally conducted in Italian with Massimo Dell’Aquila. The responses featured in this article have been translated into English for clarity while preserving the original meaning and tone of the conversation.
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The Philosophy Behind the Restoration
Massimo repeatedly returned to the idea of preservation throughout the interview. Rather than dramatically changing the apartment, his restoration efforts focused on respecting the original building structure and understanding how to work within the limitations of historical space.
The apartment boasts original 5 – meter ceilings and windows
Q: What was the philosophy behind the restoration?
Massimo Dell’Aquila: “We were always focused on creating a conservative restoration, meaning being as faithful as possible to the original historical layout without altering it.”
Massimo explained that the restoration focused on preserving the original layout of the apartment as much as possible.
Q: When was the building originally constructed?
Massimo Dell’Aquila: “It dates back to the 1500s. It was built by the very important architect Bernardo Buontalenti. He was an architect who worked mainly for the Medici family. He built this palace for himself. However, he never actually lived here because he worked at Palazzo Pitti, so it was more practical for him to live nearby, on Via Maggio.Still, this palace was built for himself.”
Q: How did you discover the apartment?
Massimo Dell’Aquila: “An architect told me about this palace. This opportunity existed, and he was the one who brought it to my attention.”
Q: Did you restore the entire building or only this section?
Massimo Dell’Aquila: “Only this floor, 420 square meters.” Editorial note: Massimo divided the floor into two apartments. Another apartment is located next door.
Q: Are there restrictions when restoring historic buildings in Florence?
Massimo Dell’Aquila: “There are administrative restrictions. It’s not that restoration is prohibited, but any type of intervention you want to carry out in these apartments must first receive authorization.”
Q: Why did the restoration process take so long?
Massimo Dell’Aquila: “Five years and five different permits. Because it is an ancient structure, whenever a variation appears — what we call a ‘variant’ — or a difficulty emerges, you must work with the heritage authority and explain: ‘I discovered this problem, and I want to solve it this way.”
Q: Did the preservation authorities appreciate the final result?
Massimo Dell’Aquila: “It could be said that this is perhaps the only apartment where the superintendent personally came to see the apartment. He described the work as splendid.”
Uncovering Frescoes Hidden Beneath White Paint
One of the most important parts of the restoration involved uncovering and preserving the apartment’s original frescoes. During the interview, Massimo explained that many historic details had been covered over the years, while other original elements had been lost entirely.
Q: Before the restoration, why had everything been painted white?
Massimo Dell’Aquila: “Unfortunately, in past years, there was this terrible culture where people who did not appreciate or respect things of such importance would simply solve the issue by painting over them.”
Q: Technically, how long does it take to remove the white paint and restore the frescoes?
Massimo Dell’Aquila: “Imagine that for a room like this, it takes one year of work.” And, as Massimo revealed, it costs a lot of money in the process.
Q: Were there any later additions that had to be removed?
Massimo Dell’Aquila: “Imagine that here in the center, in place of the sky, there was a painting of Dante that was unbearable to look at and had nothing to do with the space. We had to remove it and restore the sky.”
Q: Apart from the frescoes, what remains from the sixteenth-century apartment?
Massimo Dell’Aquila: “The entire layout. The defining feature of apartments made in this way was the frescoes. That is the main characteristic of an apartment like this. Nothing else remains. So we can really only speak about the frescoes, because they are what give the space its important character.”
Q: Are there other original features in the other part of the apartment?
Massimo Dell’Aquila: “The windows have an original system that lifts the entire window to open it. It is possible that they were here too, but they have been lost.”
Q: Were some original features preserved while others were lost?
Massimo Dell’Aquila: “Unfortunately, in some apartments beautiful things have remained, while many others were destroyed.”
Renovating the Apartment for Modern Living
Although the restoration focused heavily on preservation, the apartment still needed to function as a modern living space. Massimo explained that many decisions during the renovation were made gradually as they learned more about the structure itself.
Q: Did you have an ideal resident in mind when renovating the apartment?
Massimo Dell’Aquila: “No, when the renovation began, it did not have a precise purpose.
We renovated while creating a vision for how the space could be occupied. For example, we managed to create a few additional bathrooms in anticipation, but we could not know how it would end because we had to understand where the structure would lead us.
In the end, it worked out very well, and we created three bathrooms and a laundry room.”
Q: Did you make any changes to the exterior of the building?
Massimo Dell’Aquila: “Absolutely not.”
Q: Are the windows original?
Massimo Dell’Aquila: “If you look at the photograph, that window is the same. The proportions and dimensions are original.”
Before and after the renovation
The Story Behind the “Scar on the Wall”
One detail that stood out during the interview was the visible mark left on one of the frescoed walls after technical work was completed. Rather than hiding the imperfection, Massimo chose to keep the scar. Q: Why is there a visible mark or “scar” on the frescoed wall?
Massimo Dell’Aquila: “There is this tradition, this culture, where when you break something, for example, a ceramic bowl, you do not throw it away. You repair it using glue or resins that are golden, and in this way you give a second life to the object, which continues to live together with its scars.”
Q: How does this idea relate to the restoration of the apartment?
Massimo Dell’Aquila: “When you intervene in an original and artistic place, you should not perfectly recreate the surface after making a cut or passage for electrical cables. You must leave it visible, because it too becomes part of the history.”
Q: Why was the wall only retouched instead of fully restored to its original appearance?
Massimo Dell’Aquila: “The heritage preservation authority requires that when technical interventions are made, such as passages for cables or electricity. The fresco should not be recreated exactly as it originally was.”
Q: What does the visible mark represent?
Massimo Dell’Aquila: “It is like a scar. In Japan, there is this tradition that when you break something, you repair it with gold materials and give it a second life with its scars.”
The Philosophy being referenced is Kintsugi, the Japanese art of repairing broken pottery with lacquer mixed with gold powder while preserving the visible history of the object.
Balancing Historical Preservation with Modern Comfort
The conversation also touched on the challenges of introducing modern systems into a centuries-old apartment without damaging the original frescoes and architectural details.
Q: Why was the air conditioning unit installed in this unusual way above the fresco?
Massimo Dell’Aquila: “Do this, do that like this, do it this way, do it that way. Then Scienza came, and the architect designed it.”
Q: Why did they build the structure around the AC unit instead of attaching it directly to the fresco?
Massimo Dell’Aquila: “To avoid attaching the air conditioning unit directly onto the arch and the fresco, they created this structure instead.
It is quite unusual and original, but it was considered a better solution than damaging the fresco itself.”
Q: Was there any discussion about balancing modern comfort with historical preservation?
Massimo Dell’Aquila: “Well, if you have to choose, of course, you protect the fresco.
There were no air conditioners in the sixteenth century. Maybe the weather was different back then compared to today.”
The Building’s History and Evolution
Toward the end of the interview, Massimo discussed how the palace itself changed over time, including how the apartments were eventually divided and adapted from their original use centuries ago.
Q: How was the palace originally used centuries ago?
Massimo Dell’Aquila: “Two or three hundred years ago, this palace was probably inhabited by only one or two families. With their servants.”
Q: When do you think the palace was divided into apartments like it is today?
Massimo Dell’Aquila: “Maybe 200 or 300 years ago. No — let’s say that the division of the first floor dates back to the beginning of the twentieth century.”
Q: So the apartment layout itself is about one hundred years old?
Massimo Dell’Aquila: “The layout is original, but the distribution/design dates back 100 years.”
The Importance of Preserving Historic Spaces
Toward the end of the interview, Massimo reflected on the importance of preserving places like this and protecting what still remains inside historic buildings.
What is the importance of preserving places like this?
Massimo Dell’Aquila: “It is obviously important to preserve this heritage. Heritage is really important. It’s true that it’s also a commercial issue, for investment, but it’s very important to maintain these things here. But it’s a phenomenal value. This is one of the most beautiful spaces in the building.”
The restoration of the Florence residence was not approached as a simple renovation project. Massimo Dell’Aquila described a process centered on preservation, patience, and respect for the history already embedded within the apartment.
From restoring frescoes to preserving the apartment’s original layout, the goal was always to respect the history of the space while giving it new life. Today, the restored residence in Florence stands as an example of how historic architecture can be thoughtfully preserved for future generations.
