The Latest News About...
"Le Palace des Vosges"
Fractional Ownership

August 31, 2009: Inauguration September 2, 2009

With the exception of a few details, Le Palace des Vosges is ready for occupancy. The first arrive today -- the investors!

Wednesday night we will toast to it's "birth" - having taken over one year from discovering the property to its final completion.

Click here to view photos. Or click here to see a live video.

During Renovation of Le Palace des Vosges...
By Adrian Leeds
August 13, 2009

The final details are being attended to like adding icing on the cake. As with more renovations, the elements came together quickly to produce one magnificent space -- even more beautiful than we might have imagined.

By the end of next week, virtually element will be in place and we'll have proper photos to show off. Meanwhile, all those who have visited the apartment have swooned with delight and more importantly, those who have come and relaxed on the velour sofa or leaned on the zinc bar, have not wanted to leave...but just stay and enjoy the elegant surroundings for as long as possible.

Our hats go off to Benoit Salun and Martine di Matteo for a brilliant creation that we are sure will be enjoyed by all who have the pleasure of owning and using it.

Stay tuned for the final showing...coming soon!

A Few Important Bits of News About Le Palace des Vosges!
By Adrian Leeds

Yesterday I sent out a special letter to all the folks who had shown a sincere interest in being one of the lucky 13 owners of "Le Palace des Vosges." If you haven't been following the story of this luxury fractional ownership apartment in Paris, let me bring you up to date.

This is an apartment we discovered about one year ago that stole our hearts -- so much so that I begged the real estate agents to promise not to sell it to anyone else...and they didn't. They sold it to us. 'Us' being three investors from the U.S. and Europe who saw this as a 'jewel' at what is Paris' chicest address -- the Place des Vosges.

The apartment is no ordinary Paris apartment. It may sound ordinary when I describe it as 81 square meters (872 square feet) with two bedrooms, two bathrooms, a powder room, full kitchen and living-dining room with the usage of a garage and storage lockers.
But there's nothing ordinary about it.

To begin with, it's in the southwest corner of Place des Vosges, meaning that the space is about 400 years old. That's evident from the enormous oak beams that support the ceiling, impossible to reproduce in today's world.

You enter it from the courtyard at ground level...so first you enter the large doors on the Place at number 9 just next to the Michelin three-star restaurant, L'Ambroisie, walk past the statuary and rose patch to the back past the Nikki-Diana Marquardt Art Gallery, down another cobblestone path to the back corner of the second courtyard.

The moment you enter, you will hear birds chirping in the trees along the side and in the gardens of the adjacent Hôtel de Sully which looms above the stone wall and garages set to the left.

It's immediately magic. Here you are in the middle of Paris...in the center of one of the city's most historic spots, surrounded by the hustle-bustle of the city, yet there is total serenity. Everyone who walks in says they feel transformed to another time and place.

At the far corner, you will notice two glass-paneled walls. This is Le Palace des Vosges -- more a house than an apartment, with three levels. You enter the main level through a glass door which houses a spacious living room, dining room, open kitchen and powder room. A few stone steps down leads you to one bedroom. A few stone steps up leads you to the second bedroom. Each bedroom has a luxury 'en suite' bathroom -- one with shower, the other with both a shower and a tub.

In effect, it's a 'split level' and because of this, along with ceilings about five meters high, the space feels absolutely enormous, and like a 'house' rather than an 'apartment.'

We started the total renovation about four months ago and about another month will bring it to completion. Martine di Matteo, the Interior Architect who has been the creative talent behind many of the luxury apartments featured on Parler Paris Apartments (/parlerparis/apartments) is the principal designer and supervisor of the project. She has created an environment fit for kings and queens, as divine as Marie Antoinette would have expected and lavished in.

Until now, the final outcome has been in our dreams, as we approve her furnishings and fabrics selections. Now that we're in the final stages of the project, we're seeing it come together in real life and we have several very important messages to relate to all of you who dream of owning a part in Le Palace des Vosges...

** An update on the apartment’s exciting renovation
** Our new "Four Week Block” ownership plan -­ if you prefer one long Paris visit, it might be just what works best for you!
** The “hot” statistics on Marais property values (the district in which Place des Vosges is located). Hint: they're going up!
** And, a special "heads up" to our most loyal readers and friends...

Firstly, the renovation...

The kitchen is in! You know what that means --- Le Palace is now a home! And, what a kitchen! A hand-hammered zinc bar separates the kitchen from the dining area -­ I immediately saw myself relaxing there with a glass of champagne. Cream-toned cabinetry supports a gorgeous creamy marble counter top and sink, surrounding a black "Falcon" five-burner stove. The large overhead hood will be perfect for the antique copper pots we found, etched with "Jules Vernes Restaurant." There’s a dishwasher, fridge, freezer, washer, dryer, oodles of drawers and cabinetry ­ all tucked away so “le chef” (you!) can chat with guests in the living room while viewing the glorious Hôtel de Sully through the windows. Spectacular!

Flooring is being installed throughout the apartment. The living/dining/kitchen areas have stone tiles with black 'diamonds,' just as you'd see in a 17th-century château. We're putting oak flooring in the lower bedroom, and carpeting in the upper bedroom to reduce noise.

The silver claw-foot bathtub has arrived! It's higher on one side, as Marie Antoinette specified for her own boudoir and will go into the upper bathroom, alongside the a large "Italian" style tiled shower.
The new “atelier” style windows and doors (approved after 'millions' of meetings with the Architects de Bâtiments de France, the Marie de Paris, plus the building's "copropriété") have been uncrated and are ready for installation this week.

Whew! So much activity! I've visited it everyday this past week, and as soon as I brush off the plaster dust, I'll post more photos.
Believe me, the apartment is looking fabulous.

Secondly, and for some of you, this may be the most important news yet. We now offer four contiguous weeks of ownership -­ at the same price as two, two-week blocks! So, if you would prefer one luxurious four-week-long ownership stay at Le Palace, rather than two, two-week visits, now's the time to let me know. The “two, two week” plan is still available for those who visit Paris more frequently.

Next, I'm delighted to report that property values around Le Palace des Vosges have risen. Again. As you know, Le Marais includes the 3rd and 4th Arrondissements. Both have increased over the last quarter: the 3rd by 4.2%, and the 4th by 2%. Property values for just the Place des Vosges are hard to isolate because the area is so distinct, but currently, prices in Place des Vosges average about 15,000€ per square meter. That range has increased every year since the 1960’s, when Place des Vosges was ‘rediscovered,' thanks to the then Minister of Culture, André Malraux.

The bottom line: property in (and even around) Place des Vosges is simply the best. Nothing compares in value, status and elegance in all of Paris. Mark my words. Le Palace des Vosges will be the most luxurious, most desirable fractional property in the City of Light.
Lastly: my “Heads Up” - Share prices will increase when the renovation is finished and Le Palace des Vosges is ready for occupancy, and when you see how absolutely fabulous this property is...so I urge you to reserve your lucky share before that happens. Otherwise, it may be too late.

During Renovation of Le Palace des Vosges...
By Adrian Leeds
June 11, 2009

The boxes and cartons were piled high outside on the cobblestones of the courtyard today as the kitchen was being installed along with the appliances while the carpenters and masons were completing the tile work on the floors and in the bathrooms. The saw was making such a racket the upstairs neighbors couldn't hear their television...but they were assured that by the afternoon, all would be calm again and the debris removed.

Until today, there wasn't much to show on the exterior for all the work that goes into the reconstruction of the walls and ceilings in preparation for the finishings. As with all construction projects, the last 10% of the time spent on the project completes 90% of the exterior finish -- so the bulk of time is spent on creating the foundation for the final decor and all that is finally enjoyed by its residents.

Within the next two to three weeks, we'll be able to show a finished product, with occupancy scheduled for mid July! So, stay tuned...

 

The Purpose of Permissions at Place des Vosges
By Adrian Leeds
April 30, 2009

It was a long-awaited "Assemblée Générale" -- the annual meeting of the 9 Place des Vosges "copropriété" (homeowners association). We had been preparing for it for months, knowing full well that the outcome of the meeting would determine the future for the renovation plans of "Le Palace des Vosges," the Fractional Ownership property designed for 13 lucky owners.

From the outset, we had decided to change the windows and doors of the apartment, as well as the doors of the garages. Making any exterior change requires not only the approval of the Architects des Bâtiments de France, but also of the Direction de l'Urbanisme de Mairie de Paris (DU). This is largely due to the nature of the property as historic.

An architect came to survey the property and made recommendations. Our OWN architect made drawings to reflect their recommendations for further approval by the Mairie. The style they suggested was "atelier," similar in design to what already existed in the building.

Although it may seem very simple and straightforward, the whole process took many months to accomplish and the 'hitch' when all was done is that the city does not issue a 'permis de construire," but in fact, does the opposite -- nothing, so that if you hear nothing from them, then you have their approval!

It's a bit backwards way of looking at the permit required to present to the copropriété, which in actuality has the final approval. Without the accord of the other owners, nothing could be accomplished, and even the work to get the approval of the ABF or the DU would have been for naught.

We did NOT feel comfortable ordering the production of the massive glass and aluminum structures without this approval, nor did we want to go the assemblée without something in writing from the DU. Getting an "Attestation" from the City Hall was no easy task, but it was accomplished, just the morning of the assemblée!

We had other issues to request -- the ability to add a lantern over the entry door along with a switch so that leaving and entering the apartment would always be well lit, and the approval to add planters along with an outdoor table and chairs.

Interior Architect Martine di Matteo attended the meeting with me to ensure success in getting all the necessary approvals. It was held in the conference room of the Académie d’Architecture on the first floor at 9 Place des Vosges. The large windows overlooked the Place des Vosges, outfitted with an enormous table and chairs around the table. The Place was sunny and the linden trees full with bright green leaves.

As the owners filed in, they greeted one another and took a seat. It seemed like a normal meeting, just like the many I've attended over the years, but it wasn't. It was a cast of characters, and as Martine remarked, much like a Fellini movie.

There was the American woman who owns the Gallery Nikki Diana Marquardt, which has an entrance both on rue de Turenne and Place des Vosges as well as about 20 owners ranging from elderly well-suited French men (one wearing an ascot) to young women in jeans and all those in between. The meeting was led by the owner of Dauchez Copropriétés, the managing agency known as the "Syndic" and the woman is handles the account, with whom we have had direct dealings.

I will tell you that it was the most charged-up meeting I have ever experienced, lasting almost five hours. There were 34 items to discuss on the agenda and ours was added to the end, meaning we must stay till the end to see it through. The owners were clearly disgruntled with the service they were getting from the agency, and because of their lack of management skills, one of the owners virtually took over the running of the procedures in order to move it along more quickly.

Several really productive things came out of the meeting however. First, we got the approval to renovate the windows and doors of the apartment and garages! Secondly, we made friends with the owners in our building (building I) who were thrilled to hear of our plans to add a lantern and plants in the courtyard...they will surely be of assistance to get it approved. And thirdly, we were able to maintain the existing cellar as owned by the copropriété, but with access to it only via our apartment with permission...in essence, free ownership.

Luckily these meetings only transpire one time a year. And hopefully next year, we will need no further permissions! But we felt very privileged to be a part of the co-ownership of such an illustrious group of residents...as in the Place des Vosges and to have gotten so much accomplished!

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April 16, 2009
Three-Dimensional Insight into Le Palace des Vosges
By Adrian Leeds

Click on each drawing to enlarge...

These newest architectural three-dimensional drawings illustrate best the finished interiors of "Le Palace des Vosges." Created by Benoit Salun of B. Prod Construction, one can now fully imagine the spacious interiors.

You enter the glass doors from the courtyard at number 9 Place des Vosges directly into the large living space which has ceilings about five meters high. Ahead of you will be the living room area with a fireplace on the left. There will be a plush sofa (which converts to a sofa bed), two armchairs and occasional tables.

To the right beyond the living room will be the dining room equipped with a beautiful iron and wood table and chairs of gold leather. Opposite that will be a functional desk and total entertainment center.

Beyond the dining room will be the open château-like kitchen, fully equipped with all the best appliances and cabinetry, separated by a zinc bar with stools. From this vantage point, you can enjoy the best view of the entire apartment and the beautiful Hôtel de Sully just outside your doors.

Massive 400 year-old wood beams in the ceiling are fully exposed. The floor will be stone in a classic château diamond pattern. A few stone stairs take you down to the lower bedroom -- designed for a 'king.' It will have a queen/king bed (that converts to twins if you like), a luxurious shower, toilet and dressing area, plus plenty of closet space and built-in cabinetry.

Curved stone stairs take you up to the balcony and upper bedroom -- fit for a 'queen.' Here, there will be a luxurious shower plus an independent claw-foot bathtub and private toilet enclosed by beautiful draperies. In the bedroom will be a stunning iron and marble wash stand where one can lavishly primp while enjoying the entire space. The bed is also a queen/king (that converts to twins), surrounded by sheer fabric for privacy -- for all the makings of a lady's "boudoir." Both bedrooms will be air-conditioned.

No detail is being overlooked to provide the ultimate in comfort, convenience and luxury for the 13 lucky owners of Le Palace des Vosges.

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April 9, 2009
Exposing the Beams and Other Renovation Decisions
By Adrian Leeds

Spring has sprung at Place des Vosges. The leaves are quickly popping out a bright fresh green -- the Linden trees taking on their well-pruned square shape. With the sun out bright and the sky blue as any Paris sky can be, hoards have come to take in the rays on the lawns and enjoy the cool air.

At the Hôtel de Sully just next door, the garden has been manicured and the ivy wall is beginning to come back to life. It's the main path from Le Palace des Vosges to rue Saint-Antoine -- a heavenly route it is.

When a leak from the apartment above created a problem with the ceiling, it was a lucky day!...Lucky because it wasn't until then that we discovered large 17th-century oak beams crisscrossing the entire length and width of the living room/dining room. The decision was taken to expose the beams to show off their centuries of history, adding even more detail to the large volume of space.

Martine di Matteo showed off her selection of fabrics for the upholstery and draperies -- a combination of velvets and velours, satins and jacquard weaves, embroideries and leathers, in golds, greens and purples. These are the colors of royalty...fitting for the likes of Le Palace des Vosges. The fabrics are luscious and luxurious, both masculine and feminine, fit for a king and queen.

The furnishings were chosen with great care -- some antique or with a pantina of age, in light colors, distressed surfaces and designed to be practical for comfortable usage.

With the contractor, we reviewed every detail of the electrical plan, ensuring that there will be enough plugs, TV and telephone connection points and that the light switches will be practical and multi-purpose. The lighting will be elegant and soft, on dimmer switches for maximum control. There will be three chandeliers in the main living area, and antique sconces on many of the walls...no overhead lighting or contemporary spotlights -- but lighting that will glow and produce a warm light.

For the moment, the space is a true "chantier" -- a construction site that bears no resemblance to what will be a stunning finished product. But we have the vision of a palatial home -- the kind everyone dreams of and few achieve.

 

 

 

 

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February 26, 2009
Excerpts from French Property Insider

Demolition and Renovation Underway at Le Palace des Vosges
By Adrian Leeds

Le Palace des Vosges is a Fractional Ownership property offered by the Adrian Leeds Group, LLC to 13 shareholders, each with four weeks of usage, located at number 9 of 400-year-old Place des Vosges, Paris' best address! The property, a two-bedroom, two-and-a-half bath, 81 square meter apartment, was acquired at the end of January 2009. Last week, the demolition on the existing apartment began, taking real shape this past week as the old, existing walls came tumbling down.

The powdery stone floor has been broken up and carried out. The walls that once defined the kitchen and bathrooms are completely gone. The ceilings have been removed with the hopes of raising the ceilings.

There are always surprises when uncovering what lurks behind old walls, particularly those from the 17th-century. We found curved walls and space we didn't know existed. We found centuries-old beams and plumbing no longer used.

Interior Architect, Martine di Matteo and I met to discuss the furnishings details and make important decisions. With a clean slate before us we further confirmed our plans to decorate the lower bedroom in a masculine style, while the upper bedroom will be a bit more of a feminine "boudoir." The lower bedroom will have parquet flooring while the upper bedroom will have plush carpeting (to also help reduce noise between the two rooms).

The bathrooms in both, "en suite," will be absolutely luxurious -- the lower bathroom with a large tile shower, the upper with both a spacious shower and free standing claw-foot bathtub. Both will have plenty of closet space, air-conditioning, elegant furnishings and beds that make into twins or one queen/king.

A powder room will be added to the lower level so guests need not go through a bedroom and will be adjacent to the château-like French fantasy kitchen -- large and completely equipped and functional for even the most elaborate gourmet cooking. A zinc bar will separate the kitchen from the dining area and will act as a great place to chat with the cook.

Under the balcony which leads to the upper bedroom, a buffet-server will be built in for easy access from the kitchen to the dining table filled with serving pieces, bottles of wine, glassware, etc.

At a specialty tile shop in Le Marais, Martine and I chose tile flooring for the living room/dining room and bathrooms -- all made of beautiful stone, slate and baked ceramics in the pale creamy color of natural stone and the gray of natural slate...to be as authentic to the 17th-century period as possible, as will be the entire luxury apartment.

Fantasy French Kitchen Planned for Le Palace des Vosges
By Adrian Leeds

What is rubble now will eventually be the ultimate of Fantasy French Kitchens in Le Palace des Vosges! The kitchen will be semi-open to the living/dining, separated by a zinc bar where your guests may relax with a drink while you're preparing dinner. It is planned to be fully equipped with the finest appliances: stove/hood, microwave/oven, refrigerator, dishwasher, washer, dryer and outfitted with a marble sink and counter top set in white distressed wood, adorned by copper pots and all the necessary utensils close at hand.

Editor's note: for photos and more information about Provence et Fils kitchens, visit www.provence-et-fils.com/US/cuisine/les_cuisines.htm.

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February 1, 2009

Dear Lovers of Place des Vosges...

I am pleased to tell you we officially completed the purchase of our newest fractional property “Le Palace des Vosges” on Friday, January 30th at the office of our Notaire.

After congratulations all around, our focus now turns to the renovation. We look forward to presenting you with the most exciting, elegant and functional fractional opportunity in one of the best locations in Europe - the Place des Vosges, 4th arrondissement, Paris, France.

This coming week, we will review the plans with our architect Derek Bush and our fabulous interior designer, Martine di Matteo. Of course, we’ll update all the apartment’s basics for you – we’ll replace all the windows and doors, update the electric and plumbing and add new flooring. Plus, we’ll renovate the two en-suite bathrooms, create a warm, open kitchen and add a completely new ‘powder room.’

The real magic, though, will come from the space itself. Marine’s elegant design capitalizes on the apartment’s impressive volume and rich history. We envision a "palatial" environment that won’t sacrifice comfort or functionality and create just the right warm and friendly home in the heart of Paris.

The least expensive of the shares are still available, and they’re quite a bargain. Yes, the general economic conditions are troubling, but property – especially in the center of the City of Light – is always desirable, particularly the Place des Vosges. Real estate associated with Place des Vosges is most likely to increase in value with each passing year – there is simply nothing quite as historic or as beautiful as Place des Vosges anywhere in Paris!

We look forward to updating you on this exciting offering - and we hope that you will consider purchasing a share in the near future. If you have any questions, please contact either of us at any time.

All the best, Adrian and Mary Ellen

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January 1, 2009

Dear Lovers of Place des Vosges...

One of our primary concerns of the property has been from the beginning the refurbishing of the exterior windows of the apartment and doors of the parking garages. You may recall that a representative from The Architectes des Bâtiments de France came to make suggestions for changing the windows and doors that would be in keeping with the esthetics of such a historic monument. We will require their approval to make any changes to the external building. Designs for "atelier" style windows which resemble the windows and entries on the other buildings on the courtyard are being submitted for their review. This will make a big improvement to the beauty of the 400 year-old courtyard.

Working with architects Derek Bush and Martine di Matteo, we submitted our designs which we hope will have their approval. The estimated time to have a response is two months. Estimates for the production of the new windows and doors are in progress.

The signing of the Acte de Vente was originally scheduled for December 19, 2008. We requested a delay of the closing until the end of January for administrative reasons. The seller granted permission and a signing of a "Pre-Acte" took place December 22nd. The delay gives us the necessary time to finalize the SCI's and other necessary legal documents.

The bylaws of the homeowners association is complete and potential shareholders are now free to read it.

While property prices in France have softened and Paris is seeing some downturn on some properties, central Paris and Place des Vosges remain the "cream of the crop" holding strong.

Place des Vosges is Paris' most desirable and best real estate address. According to http://fr.meilleursagents.com/, based on the 2nd quarter 2008 reported statistics by the Chambre de Notaires, the price in the Place des Vosges averaged between 9,342€/m² and 14,428€/m². These prices are 37.2% more expensive than the average in the other parts of the 4th arrondissement and 84.6% more expensive than the average in all of Paris.

We look forward to having you as part of our "Palace" community...

A la prochaine...

Adrian Leeds

 

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December 3, 2009

Dear Lovers of Place des Vosges...

We hope you have a wonderful Thanksgiving Holiday with family and friends, as did we here in Paris (!). The weather has turned cold, rainy and gray, but it didn't stop us from cooking up a French turkey and giving thanks for all we have.

I thought I would take this opportunity to give you an update on the progress of Le Palace des Vosges, as you have expressed interest in being one of the shareholders or you already are a shareholder (...you know who you are...!). If you do not wish to receive any updates from us, please let me know and we'll take you off this special mailing list.

The signing of the "Acte de Vente" was originally scheduled for December 19, 2008, however, we have asked for a delayed closing in order to have the documentation for the SCI complete and for other tax advantageous reasons, until January 2009. The delay should not affect our projected occupancy date of May 2, 2009.

A "Société Civilie Immobilière" is the French property holding company which acts as the official 'owner' of the property. It has two members consisting of Home Owners Associations (HOA's). These HOA's will be made up of the 13 shareholders. This is how the legal structure will work, as with most co-ownership properties.

The final changes are currently being made to the Owners Operating Agreement -- the Bylaws under which the shareholders will manage this very special property. Once this document (about 50 pages!) is complete, we will make it available to all potential purchasers for their review and approval. We are working with two law firms, John Howell and Company, London, and Andrew Sirkin, a U.S./French specialist of co-ownership law, so we are confident it will be well received.

A representative from The Architectes des Bâtiments de France came to make suggestions for changing the windows and doors that would be in keeping with the esthetics of such a historic monument. We will require their approval to make any changes to the external building. Designs for "atelier" style windows which resemble the windows and entries on the other buildings on the courtyard are being submitted for their review. This will make a big improvement to the beauty of the 400 year-old courtyard!

Friday we are meeting with our Architects, Martine di Matteo and Derek Bush, to review the floor plans. As soon as we finalize the drawings, we'll be able to post them on the site for your review. The plans will include a large gourmet open kitchen with laundry facility, powder room, plenty of closets and cabinetry, luxurious bathrooms (one with tub/shower and the other with an easy step-in shower) and air conditioning in both bedrooms.

Not long ago, we met with flooring and building specialists who hope to be able to uncover ancient beams in the ceilings throughout the apartment that will enhance the decor and provide additional height to the ceilings! The stone floor will be replaced with a higher quality classic chateau-like stone floor, on which carpets will be added for warmth and comfort.

Martine has been gathering design ideas for an elegant and palatial feeling, without sacrificing convenience and comfort. She is the master of luxurious fabrics and colors, that tell a very unique and unified 'story.' Le Palace des Vosges will make anyone who enters its doors feel like royalty...the royalty who once made their mark in this very spot, hundreds of years ago. If they could see it now...they would be very jealous indeed!

Since we launched Le Palace des Vosges in September, the U.S. dollar to euro rate of exchange has made a big difference to the price of the shares. On September 23rd, when we signed the "Promesse de Vente," the rate was $1.47 to the euro. Today the rate is $1.26 to the euro. This means that the shares are $27,279 LESS expensive than they were two months ago!

If you believe you will be purchasing one or more shares, then this could be an ideal time to transfer your funds. You can "buy forward" locking in this low rate by using Moneycorp Currency Specialists. To contact them and make the transfer, visit our Web site at /frenchproperty/loan/moneycorpconvertor.html

Some of the lowest priced shares are still available, but we don't expect them to last long. If you don't want to take the chance of losing your opportunity, 15,000 euro deposit will hold your share and the weeks you choose to take.

I will continue to keep you posted on the progress of Le Palace des Vosges, and if you're ready to make your commitment, do not hesitate to contact Mary Ellen Gallagher at MaryEllen@adrianleeds.com.

We look forward to having you as part of our "Palace" community...

A la prochaine...

Adrian Leeds

P.S. The trees on the Linden Trees in the Place des Vosges are all gone now for the winter, leaving the buildings themselves exposed for all to see. And what a gorgeous sight it is! When you are a resident there, you'll be able to step out your door and see it every day of the week. "C'est la rêve!"