The double apartment had been on and off the market for 11 years.
Hilfiger told the publication he and his wife had been considering the move for a while, but the coronavirus sped up those plans.
The property also has a dock, a tennis court and a pavilion that serves the swimming pool.
To stock the store, Hilfiger and a friend drove to New York City to buy clothing such as , , and leather jackets.
Hilfiger remains the company's principal designer, leading the design teams and overseeing the entire creative process.
A guest house also located on the property contains a living room, kitchen, two bedrooms, two baths and a two-bay garage.