The jewelry designer and fitness pro gives PEOPLE a tour of her posh space

Nicole Murphy bought and returned three sofas before settling on the plush white sectional that finally won her heart.

“I’ve got to have a comfortable couch!” she says. “This one is so comfortable that I can sink into it, turn on the television and be asleep within minutes.”

That’s what happiness is all about for the 50-year-old model, fitness entrepreneur, jewelry designer and mother of five (with ex-husband Eddie Murphy).

“I don’t like going into a place where you’re scared to sit down,” she says. “I like a home that you don’t want to leave.”

Credit: Justin Coit

As her nest began to empty (her oldest, Bria, is 28), she downsized from a six-bedroom house to this modern three-bedroom condo she shares with her youngest daughter, Bella, 16.

She brought along only a few beloved possessions, like the abstract yellow painting in her dining room.

Credit: Justin Coit

“A new space needs a new look,” says Murphy, who did all the decorating herself. “This place still isn’t finished. I always say take your time, and when you find the right piece, buy it.”

The furnishings that she gravitates to have an “earthy, comfortable, cozy” vibe that matches her “calm, fresh and happy” personality, showcased in her new line of stackable, handmade jewelry, FLP (Friendship, Love and Peace).

Those qualities permeate every aspect of her life. When she entertains, Murphy says, “I’ll invite a few friends over, and we’ll cook, have some wine, hang out, play music and tell jokes. We just chill.”