It only makes sense that the son of the Patron Saint of Prep would find himself shacking up on the Upper East Side - in an apartment that overlooks the Met, no less.

Andrew Lauren, who's carved out his own successful career as a film producer, has just purchased a massive spread on Fifth Avenue for a whopping $21 million. He'll be the third resident to ever occupy the 5000-square-foot space, having purchased it from legendary socialite, business woman, and political fundraiser Georgette Mosbacher, who owned the property for 25 years. Known for her lavish parties hosting world leaders and A-listers, Mosbacher had entertained everyone from King Juan Carlos I of Spain to Tom Hanks and Donald Trump inside the opulent home.

Boasting three bedrooms, four and a half baths, a private elevator landing, marble fireplaces, gilded ceilings, a library, and a formal dining room that could comfortably seat 18, the apartment at 1020 Fifth was certainly made for a member of an American dynasty. However, we'd suggest a visit to Ralph Lauren Home, if only to tone the place down a bit.

Click through for an inside look!

[Photos via Trulia/Brown Harris Stevens]