A Piece of Paris for a Fraction of the Price

The View from the Windows of Le Jardin Saint-Paul

A Piece of Paris for a Fraction of the Price

Parler Paris…
Your taste of life in Paris and France

Wednesday, August 15, 2007
Paris, France

The weekly Community Calendar will be on holidays in August, returning in September.


Saturday, September 15, 2007, 3 p.m. to 6 p.m

Studios review over a 1,000 scripts a year and choose about 12 for production. Each script is read by a reader who recommends to her boss “pass”, “consider”, or “buy”. A screenwriter has to get past a script reader who has read every type of story in innumerable scripts looking for a gem. Judith Merians will teach you what hooks a reader’s interest… and what makes her toss a script on the rejection pile.

Led by Judith Merians, an entertainment lawyer and executive, literary agent, and film school professor in Los Angeles for over 25 years, and sponsored by Adrian Leeds and Parler Paris, join us for this 3 hour session, at La Pierre du Marais, only 30€ per person! Spaces are limited, so register now!

For further details and to register, please visit /frenchproperty/conference/ or email Judith Merians

Le Jardin Saint-PaulDear Parler Paris Reader,

This is the view from all of the windows — this lush garden that looks more like a corner of a tropical rain forest than the center of Paris. It’s an oasis just two steps off newly pedestrianized rue des Rosiers in Le Marais and one block from Métro Saint-Paul, behind a stone-encased wooden door, down a stone-walled corridor and up seven small tiled steps.

Just before arriving at the Notaire’s office to sign on the dotted line yesterday afternoon on behalf of Paris Home Shares Fractional Ownership company, the real estate agent and I performed a “walk-through” to ensure that all was in order and that the buyer could feel comfortable taking possession of it in its present condition.

The two-bedroom apartment looked even better without the previous owner’s 1970′s Jetsons Retro furnishings, leaving only an enormous gilded mirror, window shades and of course, all the high quality kitchen appliances. The open “American-style” kitchen, dining and living area is expansive, with approximately four-meter-high ceilings, exposed 17th-century wood beams, stone walls and a large stone fireplace. Tall windows in all the rooms frame the picturesque garden around which the apartment wraps in the shape of an “L.” I wanted to move right in.

Instead, we headed to the signing where the seller’s Notaire, our Notaire, the real estate agent and I reviewed the “Acte de Vente” (deed) thoroughly, initialing or signing every page, every pertinent document so that title could be taken in the name of “SCI Jardin Saint-Paul” (SCI = “Societé Civile Immobilier” — a French property company) which in turn, will be equally shared by 12 different owners.

For years of discussing various investment schemes at the Living and Investing in France Real Estate Conferences, “Fractional Ownership” has been an idea on many people’s lips. It is not a brand-new concept, but there are only a handful of developers testing the Paris market, and even that has only been recently.

Fractional Ownership is a hybrid of direct ownership and time sharing, combining the best elements of both. The primary differences are that while timeshares involve many thousands of shares in a large complex with “resort” amenities and costs built specifically for that purpose, Fractional Ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market and for which there are very few, if any, resort amenities which must be managed and maintained (and paid for!).

You may have seen the r

ecent article in the New York Times about Fractional Ownership in Paris: “A Less-Expensive Way to Own in Paris” by Andréa R. Vaucher. Read it, but there are a few things you should know as you do:

1. This particular Fractional Ownership seller could get the owners into trouble as the units are rented for income because French law says that if the French company, the SCI, generates income, it will be treated as a business and therefore there will be tax of 3% of the value of the property assessed every year.
2. Compare the price per square meter with Le Jardin Saint-Paul. Their charge is 1745€ per square meter (for an apartment of only 47 square meters with a mansard roofline), compared to 1169€ per square meter for an apartment two-thirds larger at 77.4 square meters with very high ceilings
3. Owners only get two definitive weeks per year for their one-twelfth share, and must return a second time each year for any additional weeks they want to use. Paris Home Shares has a better plan and believes this arrangement is very awkward.
4. The apartment was offered on the market in June 2006 and according to the article, wasn’t yet sold out. Le Jardin Saint-Paul was offered on the market only two months ago and was two-thirds sold out even before yesterday’s signing of the final deed!

Before the owners can take possession, Steve Navaro and the team of Paris Home Shares will renovate and decorate to ultimate luxury in the regal style to which this ancient space deserves. When all is said and done, there will be 12 very happy owners enjoying their own pied-à-terre in Paris and its appreciating investment value, with absolutely no effort.

Remember, the first shares which were at the lower price are gone and a new price has just one into effect — 90,500€ per share, and worth every penny.

A la prochaine…

Adrian Leeds
Editor, Parler Paris

P.S. We will be discussing Fractional Ownership at the upcoming Living and Investing in France Real Estate Conference October 13th but by then it may be too late. If you’re interested in learning more about Le Jardin Saint-Paul and Paris Home Shares upcoming projects, visit /frenchproperty/consultation/sales/fractional/jardinstpaul.html or call or write Steve Navaro: +1-303-793-0900, email: mailto:steve@navaro.com

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This Week in French Property Insider…

The Region of Noble Wine and Famous Artists
By Adrian Leeds

In Sophia Coppola’s version of “Marie Antoinette,” Champagne overflows the glasses of the aristocrats like water. I have often wondered if the word “vignoble” actually means the wine of the noble class…and if so, Champagne is definitely it…

Free Conference Call for all FPI Subscribers!
“How to Save Money Transferring Dollars to Euros”

Meet Jody Cracknell from Moneycorp Global Money Services along with Adrian Leeds, Editor of French Property Insider, when they teach you “How to Save Money Transferring Dollars to Euros” during this one-hour special event, exclusively for FPI Subscribers…

Date: August 26th, 2007
Time: 8 p.m. Paris Time, 11 a.m. PST

Please RSVP to this special event and we will send you the call details. Sign up now by emailing: info@adrianleeds.com

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Adrian Leeds, of Parler Paris and French Property Insider and John Howell, The International Law Partnership, Present the…

Living and Investing in France Real Estate Conference
Saturday, Oct. 13, 2007
Chez Jenny, Paris, France

If you’ve always dreamed of owning your own “pied-à-terre” in Paris or home in the Provinces of France, perhaps as a future retirement home or for now as investment property rented part of the year…this power-packed conference is a MUST. This one full power-packed day in Paris will point you in the right direction to make it really happen!

For more information or to register visit /frenchproperty/conference/LIF_Paris_Oct_2007/index.html

We wanted better guides. So we wrote them.

Insider Paris Guides are written for people who love the City of Light. You’ll get a Paris insider perspective on Restaurants… Making a Life… Black Culture… Expat Writers…Visit http://www.insiderparisguides.com


Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the “seal of approval” from Parler Paris Apartments and me, Adrian Leeds.

NEW! Le Penthouse Voltaire

American comfort with French flair! Overlooking Boulevards Richard Lenoir and Voltaire, in the 11th Arrondissement. This three-bedroom, two-bath luxury penthouse with wrap-around balconies and spectacular views, sleeps 6.

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NEW! Le Balcon Plant

Near Place de la Bastille and the Bastille Opera, Gare de Lyon, the Viaduc des Arts and the Promenade Plante, 12th…Sunny, bright and airy 1-bedroom apartment with planted balcony, and views of the Promenade Plante and clock of the Gare de Lyon, sleeps up to 4.

Reserve now! Visit /parlerparis/apartments/rentals/balcon_plante.html
or email: Apartments@AdrianLeeds.com

Parler Paris Après Midi

Come for a drink and to meet and chat with other readers in Paris…

The next gathering is September 11, 2007 and every second Tuesday of the month.

Note: There is no meeting in August.

Parler Parlor French-English Conversation Group


Practice speaking French and English. Make friends, discuss interesting topics, learn about other cultures, progress in understanding and speaking, naturally and easily. Meets three times a week — come as often as you like!

For further details, visit http://www.parlerparlor.com

*The organizers will be not be available, however, you are free to meet on your own at no charge on Tuesday August 21st at La Pierre du Marais; Wednesday, August 22nd at Eurocentres and Saturday, August 25th at the café next to Lutèce Langues (Lucas) at the usual times!

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