Italian producer Elda Ferri has teamed with Brit John Heyman’s World Prods. to co-produce helmer Roberto Faenza’s “Someday This Pain Will Be Useful to You,” a Manhattan-set coming-of-age tale.

Brit thesp Toby Regbo (“Harry Potter and the Deathly Hallows”) will star as 18-year-old James Sveck, a Holden Caulfield-like character contending with his dysfunctional family amid New York’s art-world milieu. Pic is based on U.S. writer Peter Cameron’s 2007 book of the same name .

“We managed to obtain the movie rights because the book came out in Italy (in translation) before being published in the U.S.,” Ferri said.

Faenza has previously made several English-lingo films, most based on literary works, including “The Case of Unfaithful Klara.”

Project is being set up as rare Italy/U.S. collaboration thanks to a special dispensation from the Italian Culture ministry; the two countries do not have a co-production treaty.

Shooting is set to start in New York in mid-July. Post will be done in Italy.

Screenplay is co-penned by Cameron with Faenza and Dahlia Heyman. Ferri’s Rome-based Jean Vigo shingle and Rai Cinema are co-producing the $8 million pic with Heyman’s World Film Group. Rai Cinema will release in Italy.

International sales, which will kick off in Cannes, are being handled by World Film Group.