11 rue François-Miron, The Oldest House in Paris (Or at Least One Of!)

For Sale: a Room in the Oldest House in Paris (Plus Two More!)

French Property Insider
Volume VIII, Issue 24
June 17, 2010
Paris, France
adrianleeds.com/frenchproperty/insider

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"Living the Dream to Live in France" --
a 2010 Speaking Tour with Adrian Leeds

Perhaps you dream of owning property in France, but don’t know how to go about doing it. The system is very different in France from the U.S. and littered with ‘pitfalls,’ but is very "doable" given the right information and advice.

During a two-hour PowerPoint presentation, Adrian Leeds, Director of the Adrian Leeds Group, will provide a basis from which you can accomplish your goals to invest in real estate in Paris or other areas of France. Adrian will give an overview of the property market in France and a description of what is involved in order to make a viable investment that will provide both pleasure and reward. She will share her experience and knowledge in a way that will enable a would-be investor to make the right decisions to fulfill his own personal dream. Following the presentation, you'll have an opportunity to ask questions related to the topics and a cocktail reception will follow.

SAN FRANCISCO
Wednesday, September 22, 2010
Hosted by the Alliance Française San Francisco
afsf.com

SEATTLE
Thursday, September 23, 2010
Hosted by the French-American Chamber of Commerce
of the Pacific Northwest
faccpnw.org

PORTLAND
Saturday, September 25, 2010
Hosted by the French-American Chamber of Commerce of the Pacific Northwest and the Alliance Française de Portland
afportland.org

To learn more, visit frenchpropertyconference.com

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Bonjour French Property Insider Subscriber,

We have three 'insider property finds' for you today -- "insider" because there is no other way you could have access to these properties. Walking into an agency in Paris would certainly not have turned up these three jewels.

The basic fact is that there is no "Multiple Listing Service" in France and therefore no 'one' agent can have access to all properties, as we know it in the U.S. There are about 5,000 real estate agencies in Paris alone, sharing among them a very small pool of product, and all of which wanting to hold on to every last drop of commission -- so therefore they are reluctant to share their commissions with another agent.

Because we have a relationship with YOU, the potential buyers, the agents and others in the industry welcome us, particularly those with whom we have worked closely for a long time and understand the kind of buyers we represent for them.

Between last week and today, three properties 'fell in our laps' -- just the kind potential buyers like you would consider prime. The one at the top of the list is the oldest house in Paris, or at least one of the three, which have been disputed for years. This is the house at number 11 rue François-Miron, at the corner of rue Cloche-Perce in the 4th arrondissement. The agency notes the year it was built as 1450. The other two are the Nicolas Flamel house at 51 rue de Montmorency in the 3rd built about 1407 and the other is at 3 rue Volta, also in the 3rd -- although it's been discovered as actually of 17th-century build.

Either way, they all stand as important monuments to an ancient city and civilization and owning an apartment in one is a 'major coup.' When one of our best agents whispered last week that he knew this apartment would soon come on the market, simply because he lived above it himself, he promised we would be the first to see it...and so we were!

See the location at this Google map.

This morning, just before 12 noon, I visited the apartment and immediately made a full-price offer, securing it for one of you lucky potential buyers (!) -- the first one who can commit, even sight unseen.

The apartment is a small studio -- 18 square meters (194 square feet), but larger than my own "Le Provençal" (16.5 m2). It's on the 3rd floor with an elevator(!! -- very unusual for a 15th-century structure, wouldn't you say?), facing south, with two large mult-paned windows.

The building itself is in immaculate condition, clearly well taken care of by its proud owners. Yesterday the homeowner's association voted to modernize the security system, change the carpeting on the 2nd floor and reject the request for the shop on the ground level to add an awning. The stairwell is made up of a beautiful balustrade and flooring of tiny "tomette" tiles. The doors of the apartments are all a classic burgundy red.

The apartment oozes charm complete with exposed oak beams overhead and on the walls. It lacks almost nothing -- it has enough space for twin beds that come together to make one queen-sized bed, a dining table with four chairs and a corner kitchen that has everything: 2 burners, sink, refrigerator, microwave, storage. The bathroom is large enough to have a tub/shower, sink and toilet. There is no renovation to do whatsoever with the exception of a few minor additions/changes such as: add a washer/dryer, remove the bookshelves to make more space around the beds and add a closet for clothing and storage. There is no cellar.

From the windows, the view is as Paris as Paris gets, with full sun virtually all day because they face south. As a "pied-à-terre" designed as a vacation rental, the apartment could not be more ideal, plus you could also be the proud owner of an apartment in one of the oldest houses in the city!

The price: 274,700€ plus Notaire taxes and fees (approximately 7.5%). This is for a buyer willing to guarantee the purchase without a loan, although a loan can be obtainable (15% or 20% downpayment of up to 25 years).

The decision is on a first come-first serve basis and therefore the faster you send an email commitment letter to adrian@adrianleeds.com, the better your chance of being its new owner.

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The second property that has come our way is not yet on the market at all, but the owner may be willing to sell under the right conditions. For the moment, it is exclusive to our clients. It's on rue Froissart a few steps from rue de Bretagne in the 3rd arrondissement -- the location is incredible.

See this Google map.

On the 5th floor with an elevator and running the full length of the apartment is a balcony with 6 large windows facing south. As you can imagine, they provide lots of light all day long. There are two windows on the other side of the apartment, one of which is large, the other small.

The size is approximately 70 square meters and currently it has two bedrooms, one bath and one toilet. There is only one supporting wall, therefore the entire apartment can be reconfigured as you like. There is the possibility of making two bathrooms and installing air conditioning -- confirmed by the owner who is also the "copropriéte!" (it's an unusual situation).

There is a working fireplace in the living room, too and the current tenant has installed Moroccan style tile and deco throughout. It will need total renovation, but the 'bones' are amazing! The downside is noise from the street, but with double-paned windows and air-conditioning, you eliminate the problem entirely.

Renovation is typically about 2,000€ per square meter, depending on your tastes. And the price of the apartment is 795,000€, non-negotiable.

Interest in this property must happen very quickly, or it will be lost -- as I noted from the outset, it's an unusual situation and is not actually 'on the market' -- but is available to our clients only.

For this apartment, send an email to adrian@adrianleeds.com

 

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Lastly, for immediate sale is a two-bedroom, wo-bath luxury air-conditioned rental apartment adjacent to Place des Vosges in the 4th arrondissement, move-in and rental-ready.

Approximately 55 square meters, this bright and sunny two-bedroom, two-bath proven luxury rental apartment shares a wall with the 400 year-old Place de Vosges in the 4th arrondissement. Offered for immediate sale by an American owner, it is completely furnished. Recent renovation restored its oak wood floors and moldings to their original beauty. The bathrooms and kitchen are the perfect blend of modern comfort and old world charm. A special luxury feather is the central heating and air conditioning. This is a perfect hassle-free investment for someone who appreciates esthetic value, wants sheer luxury and comfort and is seeking immediate revenue potential.

The asking price is 707,150€ plus Notaire taxes and fees (approximately 7.5%). The price includes furnishings estimated at 20,000€. Finder's fee of 2.5%.

For more information, contact adrian@adrianleeds.com

 

 

 

 

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If none of these three 'ring your chimes,' then don't despair. There is a property out there that will -- and we'll keep searching for you!

A bientôt,

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Copyright 2011, Adrian Leeds®
Adrian Leeds Group, LLC, www.adrianleeds.com