As two distinctive spaces—room to rest, and room to entertain—the living room provides differing experiences for the family. "The piece de resistance is the pink sofa," designer Laura Flam says. "It doesn't feel too big, and its curves have this lightness that doesn't take over the room." The pendant light was one of a small run, one of only 10 produced, that the team had powder-coated in a deep blue color. The silk rug is from Studio Four NYC and "plays off the ornate wallpaper in the adjoining dining room," she adds.