Sotheby's International Realty says the 20,000-square-foot Greenwich mansion is being purchased by a family who toured it in September.
The mansion has eight bedrooms and nine bathrooms. It also features a 2,000-bottle wine cellar, indoor basketball court, sauna, massage room with a waterfall and home theater.
Hilfiger purchased the home in 2005 for $18 million. It had been on the market since February 2008.
The designer has moved to New York City.
The mansion is located on Connecticut's Gold Coast, a bastion of suburban perfection that's home to Martha Stewart and is considered the inspiration for the Stepford Wives.