José Auriemo Neto, the Brazilian entrepreneur behind JHSF Capital, has extended his footprint in Italy, acquiring Palazzo Taverna, a historic building on Via Bigli, right in the heart of Milan’s Quadrilatero della Moda. The deal is reported to be worth close to €53 million – roughly €22,000 per square meter, a figure that underscores just how prized this stretch of Milan real estate has become.

JHSF Capital, the holding company Auriemo Neto controls, spans luxury real estate, high-end retail, and hospitality, and owns the upscale Fasano hotel brand. Milan is not the group’s first Italian bet: JHSF is already developing a five-star Fasano property in Sardinia, set to open in the summer of 2028 on the coast facing the island of Tavolara.

The Milan deal took months to close. According to Corriere della Sera, Auriemo Neto’s representatives had been working the negotiation since last autumn, complicated by the building’s protected heritage status, which gave the Ministry of Culture and other public bodies a right of first refusal. That window closed on December 21st without the state stepping in, clearing the way for the sale to proceed.

The seller was Rossella Manzone, who inherited the property in 2023. Palazzo Taverna, a building with centuries-old roots, is currently laid out across three floors with eight apartments and an interior courtyard – several of them home to figures from the worlds of business and sport.

That existing occupancy means a swift transformation into a Fasano-branded hotel is far from guaranteed. Rather than evictions, the plan reportedly involves simply not renewing leases as they come up – a slower, quieter path to clearing the building for its next chapter.