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When you're a privileged young woman just starting out in life, it's only natural that you'd look to role models—established paragons of taste, if you will— for guidance in such matters as your first home. For Olivia Palermo, that role model was Mariah Carey, whose extravagant Hello Kitty strewn Tribeca spread inspired the 22-year-old socialite to move into her very own brand-new apartment on Leonard Street, she tells Page Six mag. But it wasn't easy! Olivia had to view 17 apartments before she found what she was looking for: "The first one I saw was a dark studio with a Murphy bed and I had no idea what it was. My dad thought it was a good reality check for me." Indeed! And after that life-changing glimpse at how the other half lives, there were more dramatic life lessons to come.

To furnish the place, Olivia and her mother, Lyn ­Hutchings, a partner at interior design firm Hutchings-Lyle, came up with the design plan: a 1960s look with a classic, old Hollywood feel. For the living room, the duo chose a comfy two-piece sectional sofa bed from Jennifer Convertibles. Next, Olivia fell for a baby-blue Bing side table from Gracious Home, which adds to the cheerful tone. "Then my mom slowed me down," she says. "She made me realize that buying furniture is not like shopping for clothes. You need to think of the look of the entire apartment."

Now that Olivia is a seasoned, experienced woman of the world, she's ready for the next step in her career. Brushing off rumors that she'll appear in a Hills spinoff, she says she intends to be a "serious actress": "I don't have to work—my parents have always supported me in everything I’ve wanted to do—but I want to. I want to be an actress and a brand, and then I want to do some producing." Admirable.