Get Stoned in France
Rumor Has It…Brad and Angelina’s Stone Château?
(FOR SUBSCRIBERS ONLY)
June 19, 2008
Bonjour French Property Insider Subscriber,
I’m back from New York with news of another apartment purchase! Read all about in two excerpts from the Parler Paris newsletters of this past week and why it’s more difficult to make a purchase in New York than in Paris!
The big news is our latest Fractional Ownership offering…"Le Petit Trésor!" Located in the heart of Le Marais, on a pedestrian cobblestoned street, lined with boutiques and restaurants, it’s the lowest price offering from Paris Home Shares and is already selling quickly. So, if you’re at all interested…don’t waste a single minute! Read all about it and contact Steve Navaro as soon as possible.
On the topic of cobblestone and other stone, today we’re featuring stone houses, one of the most sought-after types of dwellings in France. You can buy them inexpensively, but be prepared to spend quite a bit to get them up to livable standards. See why you would still want to do so in today’s issue. Also, be sure to peruse the Hot Properties to choose your next stone cottage in "N’Importe Ou," France.
The Upcoming Living and Investing in France Conference in San Francisco July 26-27 is booking up, so don’t miss this opportunity learn all you need to know to make your dream to live and invest in France come true. Steve Navaro will be there to discuss Fractional Ownership, the hottest topic on the French property scene. Visit http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html for more information.
Editor, French Property Insider
Email: [email protected]
P.S. Parler Paris Apartments offers a fine selection of luxury vacation rentals…apartments purchased and renovated by readers of French Property Insider! See http://www.adrianleeds.com/parlerparis/apartments to book your next stay in Paris.
Volume VI, Issue 25, June 19, 2008
* A Treasure in Le Marais
* Rue Trésor History
* Tall Tales from Paris and New York
* French Style Carved in Stone
* French Laws Protect Property Purchasers
* Good Time to Buy in France
* Wartime Hotel Gets a Facelift
* French Hotspots Heat Up the Property Market
* French Property Consultation on House Hunters International
* Design Your Own Fractional Property
* Upcoming Living and Investing in France Real Estate Conferences
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: July 8, 2008
* Hot Property Picks: Stone Sweet Home
* On the Auction Block: June 24 and July 1, 2008
* Leasebacks: Jardins d’Oihana, France, Atlantic Coast, Bidart
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — La Bonne Nobel
"Le Petit Trésor"…Our Hottest New Fractional Ownership Property!
By Steven Navaro
Paris Home Shares
Editor’s Note: I saw it for myself just this morning. Mary Ellen Gallagher, our Property Search Consultant who affectionately calls herself our "Search Engine," found this gem as the FIRST EVER visitor to see it and together with Steve Navaro of Paris Home Shares, ‘nailed it’ before the ten potential buyers following in their footsteps even had a chance!
Steve Navaro hasn’t wasted a single moment — the property is already described on his site and several shares have already been sold. So, if you have any interest at all, my advice to you would be to act fast…
In the midst of the lower Marais district amid a flurry of restaurants and cafés, just steps from the Hotel de Ville, lies a quiet tree-lined cobblestone passage anchored by an ancient fountain, called "rue du Trésor." Vehicle traffic is prohibited so that pedestrians can stroll freely and soak in the beauty of this oasis of tranquility. This little gem of a passage is truly "un trésor" — "a treasure."
/> The location is ideal and hig
hly sought-after. Rue de Trésor is accessed directly from rue Vieille du Temple, and is just steps from rue Saint-Antoine. It is surrounding by boutiques, cafés, restaurants and every amenity possible, as well as most of Paris’ museums and sites in the oldest part of the city.
Gorgeous Haussmannian style buildings line both sides of the street. At the very end, on the 5th floor of such a building, lies our newest offering, "Le Petit Trésor," overlooking the historic Fontaine de la rue du Trésor, which is projected for recreation as a working fountain in the near future.
The one-bedroom apartment is easily accessed by elevator and measures 56.5 square meters (608 square feet). Facing south and at the tops of the roofs, from it’s long open balcony, it offers a commanding view of Le Marais while basking in sunshine.
The living and dining areas are quite spacious for an apartment of this size, and feature rich hardwood flooring, a working fireplace, large windows opening onto a full length balcony, elegant ceiling molding details and much more.
The kitchen, bath and bedroom are small (for the moment), as is so typical in apartments of this age and design. The goal, as in other Paris Home Shares projects, is to enlarge and update these areas by more efficiently utilizing the space.
Because this offering is so new, the initial selling price has not yet been determined, but expect it to be between 76,000€ and 79,000€. This is a "pre-closing" price, which is always substantially below final price when renovation work is complete. Occupancy is estimated approximately the first of the year 2009.
The rotation system of usage applies to this property. The month of usage for the first Year (2009) will be chosen on a first come basis. It is thought that each month of usage will start on the 10th of each month, to avoid any conflicts with those in other properties whose month starts on the first.
Reservations are being taken with a $15,000 USD deposit (fully refundable for two weeks, then non-refundable). The full balance of the purchase price will be due September 10, 2008.
This is the lowest priced fractional ownership on the market today (except for Paris Home Shares resale at Villa Monceau). Shop around, compare prices, and what you get for your money. You will see that this is simply hands down the best for the least, in every respect, not to mention and absolutely gorgeous property in a fabulous location!
If you would like to receive more information on this apartment visit http://www.adrianleeds.com/frenchproperty/fractional/tresor.html, or want information about fractional ownership in general, please feel free to write to Steve Navaro at [email protected] or contact Adrian Leeds at [email protected]
Une Petite Histoire de Rue du Trésor
In this location was once located the hotel of Effiat, (Marquis of Effiat, Marshal of France and father of Cinq-Mars (see below) dating back to the first half of the XVIIe century.
The Marquis’ son, Henri Coiffier Ruze d’Effiat, Marquis Cinq-Mars (1620-1642), was a French courtier, and was introduced to the court of Louis XIII by Richelieu, who had been a friend of his father and who hoped he would counteract the influence of the queen’s favorite Mlle. de Hautefort. Owing to his handsome appearance and agreeable manners he soon became a favorite of the king, and was made successively master of the wardrobe and master of the horse. After distinguishing himself at the siege of Arras in 1640, CinqMars wished for a high military command, but Richelieu opposed his pretensions and the favorite talked rashly about overthrowing the minister. He was probably connected with the abortive rising of the count of Soissons in 1641; however that may be, in the following year he formed a conspiracy with the duke of Bouillon and others to overthrow Richelieu. This plot was under the nominal leadership of the king’s brother Gaston of Orleans. The plans of the conspirators were aided by the illness of Richelieu and his absence from the king, and at the siege of Narbonne, Cinq-Mars almost induced Louis to agree to banish his minister. Richelieu, however, recovered, became acquainted with the attempt of Cinq-Mars to obtain assistance from Spain, and laid the proofs of his treason before the king, who ordered his arrest. Cinq-Mars was brought to trial, admitted his guilt, and was condemned to death. He was executed at Lyons on the 12th of September 1642. It is possible that Cinq-Mars was urged to engage in this conspiracy by his affection for Louise Marie de Gonzaga (1612-1667), afterwards queen of Poland, who was a prominent figure at the court of Louis XIII.; and this tradition forms part of the plot of Alfred de Vigny’s novel Cinq-Mars and Gounod’s opera of the same name. [Courtesy of Encyclopedia Brittania.]
The hotel Effiat was destroyed in 1882 to create an impasse without a fortified exit of buildings of reports. The name "rue du Trésor" was given to this impasse when it was discovered, at the time of the demolition of this hotel in 1882, of a treasure chest of money dating back to the 14th century. The fountain at the end of the impasse is perhaps a remnant of the hotel.
Fontaine de la rue du Trésor
In 2001, after years serving as a conduit of commercial activity, the Mayor of Paris designated rue du Trésor to be revamped as a pedestrian only street. Work was completed in April, 2004.
Excerpts from Parler Paris
Trading the Eiffel for the Empire
Monday, June 16, 2008
Going to New York wasn’t what I had in mind, with the weather in Paris picture perfect and an abundance of things to do in the city that are tough to miss (such as the Shakespeare and Company Literary Festival that took place this past weekend), but I really had no choice.
The zany story (if you haven’t followed it) began with the idea of buying an apartment for my daughter in New York while the rate of exchange was favorable from the euro point of view. Last November, we found a small, but great apartment in a "co-op" in the West Village and long standing associate lender Banque Patrimoine et Immobilier (BPI, http://www.adrianleeds.com/frenchproperty/loan/lenders.html) granted us an equity release mortgage to purchase it. To comply with the co-op board application, the mortgage money was transferred into a U.S. dollar account (thanks to Moneycorp Currency Specialists (http://adrianleeds.com/frenchproperty/loan/moneycorpconvertor.html)
at a rate of exchange which then was far less than it is now. To apply to the co-op board for approval was an arduous task taking many hours and many months, including one visit to New York to hand deliver the nine copies, that cost over $300 just to make at Kinko’s. Then, without disclosure of ‘why,’ were denied! (No, they don’t have to disclose why they didn’t want us living in their ‘precious’ building on Jane Street.)
If the rate of exchange had been better, I would have transferred the mortgage back into euros and more happily and safely invested it into a property in Paris, but the loss would have been too healthy a sum to even consider. Instead, the mortgage money is sitting in an interest bearing account, while the interest payments have been deferred (thanks to BPI) until we could find a suitable property that would surely reap greater rewards.
Erica started to re-hunt on her own with able agents Klara Madlin and Maryann Johnson (http://klaramadlin.com/index.asp) and found an apartment in SOHO ("South of Houston") we both felt ‘had our names on it.’ We quickly made an offer 10% HIGHER than the asking price, but lost it to one of the 15 other bidders! (In France, the seller is MORALLY obligated to accept asking price, but not in New York! One could see how if a property sells for much higher than the normal market value, it would naturally create the "bubble" we all fear.)
So, seeing how another one ‘bit the dust,’ last Wednesday I ‘hopped’ the big pond heading west and told myself six days in my daughter’s shared loft in Chelsea wouldn’t be too bad as long as she had air conditioning (New York has been sweltering and the portable unit was cheaper than six days in The Hampton Hotel across the street at $250-plus a night).
Reversing roles from "Property Consultant" to "Client," Maryann showed us six apartments in Lower Manhattan on Thursday afternoon. Like Paris, there is little on the market in prime areas, and what is, sells quickly. One particular apartment in the heart of Greenwich Village fit our requirements perfectly and so we wasted no time in making an offer. They wasted no time in accepting it!
Like finding a "pied-à-terre" in Paris with a view of the Eiffel Tower, this little 525 square feet studio with high ceilings in an old converted factory built in 1897 on Barrow Street just at Sheridan Place, has a straight-shot view of what is once again the tallest building in the world — the Empire State Building!
The Empire State Building WAS the world’s tallest building from 1931 until 1972 with 102 stories (1250 feet) when it was surpassed by the World Trade Center with 110 stories. With the WTC sadly gone, it has regained its status, surpassing the Eiffel Tower by 336 feet. It was named by the American Society of Civil Engineers as one of the Seven Wonders of the Modern World, designated as a National Historic Landmark in 1986, ranked number one on the List of America’s Favorite Architecture and is without a doubt, every bit as symbolic of New York City as is the Eiffel Tower symbolic of Paris.
So, if one has to trade Paris for New York, then this clearly makes the best of it. N’est-ce pas?
Wednesday, June 18, 2008
It was a whirlwind, but successful trip to the Big Apple, having found an apartment for my daughter and gotten the process well underway to sign contracts and submit (yet another) co-op board application.
To all of you who wrote in to correct the height of the Empire State Building — thanks! You see, even with research, you can’t count on the information being correct, but with you readers paying such close attention, it’s impossible to stray too far. So, here’s the real scoop:
While the Empire State Building is not the highest structure in the world at present. The tallest man-made structure is the Burj Dubai, a skyscraper under construction in Dubai that reached 636 meters (2,087 feet) in height on May 12, 2008 and the Warsaw radio mast in Poland, raised to 646.38 meters (2,121 feet) in 1974 and destroyed in 1991, remains the tallest structure ever built. It is, however, the third highest observation deck having surpassed the Eiffel Tower when it was built in 1931 by 94 meters (309 feet).
Thanks to Wikipedia for this fascinating trivia and correction!(http://en.wikipedia.org/wiki/World’s_tallest_structure)
After running the photo of the view of the E
ate Building from the window of the West Village apartment, readers wrote in that they once lived in the building having recognized the view and was at one time President of the co-op Board. Isn’t that an amazing coincidence? They even went further to say that the profit on the sale bought them a very nice apartment on Avenue Victoria in the first district of Paris! So, this confirmed our thoughts that this was going to be a good property and good investment. "En plus, near the building on West 4th Street is "Claudes" — "the only place in New York where you can get an authentic croissant…made by an authentic ‘grumpy’ Frenchman!"
The New York property market is quite healthy, thanks to the foreigners who are purchasing with strong euros, much like myself. If it weren’t for the Paris properties which have greatly increased in value, and an equity release from Banque Patrimoine et Immobilier (BPI, http://www.adrianleeds.com/frenchproperty/loan), we wouldn’t be making this purchase at all.
Get Stoned in France
By Adrian Leeds
Sure, everyone my age knows what it’s like to get "stoned" — but what I’m talking about doesn’t go up in smoke.
Getting "stoned" in our language has the name "Pierre" (French for "stone"). Confused?
The point is that anything made of stone is heavily sought-after…cobblestoned streets, stone houses, the Rosetta Stone and Sharon Stone.
There’s a Bed and Breakfast near Pézanas in the South of France (Languedoc-Roussillon) named "The Stone House" and you guessed right, it’s made of stone. Real estate agencies in France often specialize in listing just stone houses. Houses made of stone are so desirable, that people will buy a house of stone in almost any condition, willing to completely rebuild, remodel it.
So, what’s all the fuss about stone? Here’s what the experts say:
"As the premier construction material, Genuine Stone is held in high regard because it reflects unique character, stability, and grandeur—qualities each lover of stone embodies. Its variations in color, pattern, and texture are impossible to replicate, making Genuine Stone more visually interesting, and because it comes from the earth, its eco friendly composition makes choosing Genuine Stone the natural choice." (Natural Stone Council, http://www.genuinestone.com/)
"Historic buildings such as cathedrals and stately homes are testament to the longevity of natural stone as a building material, proving its potential to last for over 1000 years in-situ. Upon demolition, the stone can be re-used in other buildings or crushed for use as aggregate. Maintenance in service is limited to occasional sand blasting if required, although weathering effects are often considered to enhance the aesthetic appearance of the building." (A Comparison of the Environmental Impact of Various Building Materials, http://www.goldholme.com/impact.htm)
"Natural Stone is:
UNIQUE – each and every stone has its own texture and color, ensuring an uncommon look for your project. Using natural stone for your project or landscape elevates the site from utilitarian to a work of art.
ENDURING – a sound choice for architecture or landscaping that withstands the passage of time and provides a legacy for future generations. Natural Stone is as enduring as your idea.
TIMELESS – Natural Stone unites structural integrity, diverse textures and an earthy palette to transcend time and popular fads. No other building material can match its beauty, strength and ability to withstand the test of time.
BEAUTIFUL – The natural beauty of stone cannot be duplicated by mankind. When you think stone, think color. Think striations and flecks. These characteristics create a depth and richness found only in natural stone.
GENUINE – Stone is formed by Mother Nature over millions of years and remains mankind’s oldest, most durable building product."
(Champlain Stone, Ltd., http://www.champlainstone.com)
Paris’ most prestigious residences and monuments are made of stone ("pierre"). The Catacombs of Paris, now a cemetery housing the bones of more than six million people, was formerly miles of mines — underground tunnels officially called "les carrières de Paris" ("the quarries of Paris"). The stone from these quarries was used to build many of these great monuments and buildings. Montmartre is built on quarries and residents must pay close attention to the movement of the ground on which their buildings were built.
A stone fixer-upper
"As early as Antiquity, the subsoil of Montmartre, very rich in gypsum and in chalk, was abundantly exploited to build Lutèce, and then Paris. An old saying even states that "there is more Montmartre in Paris than of Paris in Montmartre." The gypsum became so famous that it was even exported to England and America. The true metamorphosis of the neighborhood was directly linked to these quarries, or rather to their closing. The quarries served as refuge to outlaws and vagr
ts and it was in fact quite dangerous to walk there at night. In about 1830, all exploitation was stopped because the continuous hollow ground rendered itself dangerously unstable. The threats of collapse brought the authorities to forbid all underground exploitation. Thus, little by little, this disturbing underground population disappeared, and the town gained in security. When in 1860, Montmartre was joined to the city of Paris, it retained the aspect of a provincial town. All this would change as the bohemian Montmartre would soon see the light of the city." (France Monthly, http://www.francemonthly.com)
"A symphony of earth tones, the old ocher quarry at Rousillon was once mined for 17 different tints of the mineral, which artists worldwide used to color paints and pottery. When ocher was made obsolete by cheaper, synthetic pigments, the quarry suffered losses and finally closed in 1958. Eroded and fragile, it has been declared a historical preserve; today tourist trails wind past walls of the chalk-soft rock." (National Geographic, http://photography.nationalgeographic.com)
Often in older Parisian buildings, the stucco walls can be removed to expose the old stone and enhance the charm of just about any wall. But be prepared to live with the stone…it can be dusty, cold, hard and rough…but oh so beautiful and durable!
French Buyers Beware
French law aims to protect property buyers, and the process of buying a house in France is structured and regulated. But this does not mean buyers can afford to relax their vigilance, says French lawyer Fabien Cordiez, a member of the Nice Bar Council and a UK qualified solicitor who is principal of the firm that bears his name. Here he gives a brief guide to the French buying process and associated tax and inheritance rules.
In France the house buying process starts with an initial agreement that sets out the terms and conditions of the sale. Although a provisional contract until the notaire, a state official who acts for both sides, has prepared the title deeds, the preliminary contract is legally binding on both the buyer and seller. It is therefore strongly advised to have the contract drafted by a professional (avocat or notary).
The preliminary contract can take various forms:
• A unilateral undertaking to sell: the vendor alone commits him or herself to selling within a defined timescale and at a given price; the purchaser does not commit him or herself to buying but must pay a deposit which can be lost if the purchase does not go ahead for a reason other than those which have been agreed with the vendor from the outset (conditions suspensive).
• A unilateral undertaking to purchase: the purchaser alone commits himself to buying a property under specific conditions; the vendor is held by no obligation.
• A compromis de vente (bilateral agreement – most widespread): the seller agrees to sell and the buyer to buy except if specified conditions (called conditions suspensive) and only if all these conditions are complied with. The property transfer only becomes effective if all the conditions are fulfilled. The condition suspensive can be obtaining a loan: if a purchaser cannot gather the funds necessary to the operation, there is no more obligation to purchase and the deposit is returned. Conversely, the deposit can be kept by the vendor if the sale is not carried out and the responsibility falls with the purchaser.
Do not pay any money before signing the contract. And when paying, it is best to pay the notary or the estate agent, but never pay the vendor directly…
To read the entire article visit http://www.fly-2let.co.uk/feature7.html
Property in France Slowing — Good Time To Buy
Property prices in France have slowed over the past year, according to new reports from France’s national land agency, Société d’Amenagement Foncier et d’Etablissement Rural, or SAFER and the Federation of Estate Agents, or FNIAM. For all of 2007, prices rose only by 3% across the country, well below the average of 13% for the past 10 years. Apartments and houses both outpaced the commercial property sector, rising by 4.5% and 4.8% for the year, respectively.
While the country as a whole has slowed in terms of property growth, there are some areas that continue to do well and some new areas that are showing signs of heating up. According the SAFER report, well known country areas such as Dordogne, Normandy and Brittany continue to do well, while some less known rural regions have been growing.
In the heart of the country in the Limousin Region, the Department of Correze is showing signs of growth. A new airport with a 2100m runway, suitable for the Airbus A320 and Boeing 737, is under construction in the city of Brive, which is known by sports fans for its rugby teams. One local real estate agent, Matthieu Cany of Sextant French Property Agents, believes the airport will help to drive more property buyers to this area. "We think that very soon low-cost airlines will be able to land in Brive airport and that property price within one hour of Brive will increase dramatically," he said.
In Burgundy, east of the capital of Paris, the area of Yonne is showing signs of growth as well. This district known for its poets, potters and picturesque landscapes, not to mention its proximity to many wineries and vineyards. In a recent
Guillot, president of the Burgundy FNIAM says that the British are showing interest in the region and that 13% of all houses sold to foreigners in Burgundy last year were purchased by English-speaking people.
Property in France: Wartime ‘Hotel’ gets a Facelift
A French resistance hideout is for sale. Anna Tyzack tells its extraordinary story.
George Millar arrived in the small village of Vieilley, in eastern France, by bicycle, and checked in to the Carlton Hotel. It was 1944; he had been parachuted in to the area several months earlier by the Special Operations Executive (SOE), to train the maquis (local resistance), who specialized in blowing up railway lines around Besançon, on the Franco-German border. His orders were to get east in France, to disrupt all German communications and to train the Resistance to use the arms and explosives the Allies would drop to them…
To read the entire article visit http://www.telegraph.co.uk/property/main
France’s Top Hotspots
If France, as has often been reported of late, is at least a warm place if not a hotspot for European property, many will be keen to know what its very hottest spots are, not least as the heat which fired up the market in other locations has now turned somewhat chilly as the cold winds of the credit crunch have blown through.
For French property specialists VEF, the two best areas are distinctly hot and cold. This, however, is part of the appeal, for the Cote D’Azur with its sun-kissed Mediterranean beaches and the Alpine ski resorts rely on very different weather to bring in the holidaymakers from which buy-to-let investors might make a successful trade.
VEF founder and managing director Trish Mason said: "For investors looking for high rental returns, then the Côte d’Azur and Alps remain safe places in which to invest. The high level of rental return means that purchase prices are high but for the investor the important thing is that the capital growth is usually the highest in all of France."
For others, however, she suggested that different possibilities offered themselves. The major cities, she stated, were "still very interesting for buy-to-let investors", while those with an eye on the future could consider a region like Languedoc-Roussillon.
This particular corner of France, she noted, offered a south coast location adjacent to Provence, with the advantage that house prices were 30 per cent less. The other 30 per cent which is relevant is the projected increase in the population of the area in the next 20 years, meaning that for those who buy for the future, demand – and thus price – will soar.
Provence itself was somewhat cheaper 20 years ago, the Daily Telegraph notes. Back then, the paper states, when Peter Mayle was writing a Year in Provence, the cost of a stone farmhouse in Luberon was similar to that of a car. Now most locals could not afford a house in an area where there are few such properties available at all.
Luberon estate agent Emmanuel Garcin told the paper that the local property market has "increased by four to five times in the past 20 years and doubled in the past eight", with the fact that Luberon is in a regional park preventing new build and leading to a 20 per cent premium compared to neighboring areas, with those older villages offering the most "authentic" medieval ambience being the most costly.
While Luberon may be a particularly special case because of the lack of new building, it may be that the experience of Provence will transfer to Languedoc-Roussillon. Whether the catalyst for this is another book like Mayle’s to attract overseas buyers, or the more prosaic effect of a growing population, a new hottest hotspot in France may soon be emerging.
See French Property Consultation on House Hunters International!
"Settling Down in Paris"
Angela and Ben met in 2003 when they lived in Los Angeles working for the same clothing company. Now, the two are engaged to be married. When Ben started receiving frequent overseas work, the company believed he’d be more valuable in Paris, so they happily relocated. They immediately moved into a cozy rental in the 17th district near the Arc de Triomphe and started to explore the different neighborhoods of Paris. The pair is now ready to take the big leap and purchase an apartment to stay for good. Property consultant Adrian Leeds is enlisted to help.
• July 16, 2008 10:30 PM ET/PT
• July 17, 2008 2:30 AM ET/PT
Design Your Own Fractional Ownership Property
With "French Property Fractional"
by Adrian Leeds
Fractional ownership may be a hot concept!…but we’re making it even hotter!
A new division of the Adrian Leeds Group, LLC, "French Property Fractional" is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.
What’s Fractional Ownership?
A hybrid of direct ownership and time sharing, it combines the best elements of both. The primary differences are that while timeshares involve many 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.
Most Paris fractional property opportunities are properties that have been purchased, renovated and decorated by one developer who then sells off the shares. Most of these offerings sell six to twelve shares to minimize the investment amount while maximizing the size, location and quality of the apartment.
What’s new about "designing your own" property?
While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that YOU want to feel like the property is really YOURS — and it is!! So, why not have a more personal relationship with the property.
Here’s how French Property Fractional works:
FIRST, WE OFFER A "CONCEPT"
Our team is offering a property CONCEPT…to search and find the following property to be shared between only a very small group of owners — four to six:
"MY PIED-A-TERRE IN LE MARAIS"
SIZE: 35 to 45 square meters (377 to 485 square feet)
ROOMS: two rooms — one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen
LOCATION: Le Marais, districts 3 or 4
LEVEL: No higher than 3rd floor (European) without an elevator
BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)
AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
COST: 4 shares, 135,000€ each, 3 months of usage per year
5 shares, 108,000€ each, 10 weeks + 2 days of usage per year
6 shares, 90,000€ each, 2 months of usage per year
USAGE: Owners determine their own usage calendar and have
complete flexibility to arrange their calendar among themselves
* Full price of the property including agency fees.
* All notarial and legal fees.
* Property search and consultation fees.
* Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
EVERYONE MUST AGREE:
Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.
The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed upon allowance for a minimum of 90 days to locate the property.
Upon location of a property that fits the above parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner — within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of 540,000€ will enable the purchase process to proceed.
Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente — allow 3 to 4 months to completion.
Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.
Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a "liaison" between all members of the purchase pool.
NOTE: The Adrian Leeds Group, LLC will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.
If you are interested in participating in a purchase pool for "MY PIED-A-TERRE IN LE MARAIS," email Adrian Leeds at [email protected]
Fractional Property Offerings
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
|Paris: CHEZ LA TOUR
|Languedoc-Roussillon: MAISON BLEUE
|Meaux: CHÂTEAU LIVING FRANCE
|Nice: ON THE COURS SALEYA
For more details and pricing information, contact [email protected]
|Paris: LE PETIT TRESOR
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
Upcoming Conferences in 2008:
Living and Investing in France Real Estate Conference
Date: June 22, 2008
Location: International Law Partnership Offices, Holborn Hall, 193-197 High Holborn, London WC1V 7BD
Times: 10 a.m. to 6 p.m. with buffet lunch
Limit: 25 attendees
Registration Fee: £147 1st person, £97 2nd person
To learn more and reserve your place, click here: http://adrianleeds.com/frenchproperty/conference/LIF_London_June_2008/index.html
Living and Investing in France Real Estate Conference
Date: July 26-27, 2008
Location: An Alliance Française of San Francisco Special Event!
Don’t miss our 22nd Living and Investing in France Real Estate Conference! Learn how to live and invest in France…profitably.
Single Person Seminar $427, Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends Save $50, You Pay Only $377
Second Person $327 (Add Your Spouse, Partner or Friend), Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends, Save $50, Second Person Pays Only $277
To learn more and reserve your place, click here: http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
For more information, email [email protected]
Living and Investing in France Real Estate Conference
Date: October 11-12, 2008
Location: Paris Chez Jenny
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email [email protected]
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel or click here for Currency Convertor by Moneycorp Global Money Services: http://www.adrianleeds.com/frenchproperty/insider/moneycorpconvertor.html
for up to the minute conversions of all major currencies.
re currency values easily and quickly by vi
The charts below are updated every ten seconds.
The prices shown are "inter bank" exchange rates and are not the rates that you will be offered by Moneycorp. Your rate will be determined by the amount of currency that you are buying. Please speak with an Moneycorp dealer or your consultant for a live quotation.
Parler Paris Après Midi
Come for a drink and to meet and chat with other readers in Paris…
The next gathering is July 8, 2008, and every second Tuesday of the month.
HOT PROPERTY PICKS: Stone Sweet Home
Each week French Property Insider features a range of properties which we believe are on the market at the time of writing. These properties are featured in order to give readers a sample of what is currently available and a working example of prices being asked in various regions of France and districts of Paris.
As we are not a real estate agency. These properties do not constitute a sales listing. For those readers seriously interested in finding property in Paris or France, you can retain our services to do the whole thing for you. For more information, visit http://www.adrianleeds.com/frenchproperty/consultation
***Mansle, Charente, Stone Cottage and Gite
This charming cottage, sits in a quiet hamlet only 10 minutes from the market town of Mansle. Includes an entrance, sitting room, kitchen, dining room, 3 bedrooms (one with en suite, one with walk-in closet),bathroom with Jacuzzi tub and shower, large private courtyard garden. Includes gite which is being sold fully furnished.
Asking Price: 246,504€ + 2.5% Finder’s Fee
***Charente Maritime, Charentaise House
This beautiful house includes a lounge, dining room, kitchen, library, 2 bedrooms, bathroom, separate toilet, garage, land of approximately 900m² with trees.
Asking Price: 335,000€ + 2.5% Finder’s Fee
***Aquitaine, Stone House, 4 bedrooms
This renovated house comes with a gite, swimming pool, barn and garage. The house includes an entrance hall, fully equipped kitchen, dining room, 4 bedrooms. Features include a wood burning stove, oak floors, original beamed ceiling, exposed stone walls. The gite has a dining room, bathroom, separate toilet, lounge with stone fireplace, two bedrooms.
Asking Price: 348,600€ + 2.5% Finder’s Fee
Next Sessions: June 24 and July 1, 2008 at 2 p.m.
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at http://www.encheres-Paris.com/ Though the site has a button for an English version, it isn’t reliable to work.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
June 24, 2008 at 2 p.m.
|3 rooms 69,78 m²
15 rue Manin
75019 PARIS 19th
Opening Bid: 315,000€
>2 rooms 33 m²
|2 rooms 21,18 m²
27 rue Emile Lepeu
75011 PARIS 11th
Opening Bid: 68,000€
July 1, 2008 at 2 p.m.
|7 rooms 141 m²
54 rue Bonaparte
75006 PARIS 6th
Opening Bid: 820,000€
|2 rooms 36,40 m²
118 boulevard du Montparnasse
75014 PARIS 14th
Opening Bid: 150,000€
|2 rooms 43 m² LOUE
23 rue Montorgueil
75001 PARIS 1st
Opening Bid: 170,000€
|3 rooms 92 m²
10 rue Talma
75016 PARIS 16th
Opening Bid: 450,000€
LEASEBACK NEWS FROM IMOINVEST
France, Atlantic Coast, Bidart
Studio 30m² to 30m² €127,000 to €127,000
One Bedroom 41m² to 41m² €160,000 to €170,000
Two Bedrooms 60m² to 67m² €229,000 to €268,000
Three Bedrooms 86m² to 87m² €344,000 to €350,000
Between France and Spain, perfectly nestled in the heart of the Pyrenees, between Sea and Mountain, discover the magic of the Basque Country. The charming village of Bidart is a commune of the Pyrenees-Atlantiques departement, in south-western France. It is located in the traditional Basque province of Labourd. The Basque Country boasts an economy that is quite strong and with a vibrant language and culture. The area is well known for the world-famous encierro (bull run) that passes through many towns and villages of the Basque Country.
Bidart is in a strategic location among the Basque Country, between Biarritz and St Jean de Luz, along the Atlantic Coast. It is a typical Basque town, with colorful houses. Bidart is deeply attached to the local culture and tradition. Inside rocky cliffs, the six sandy beaches of Bidart are truly a paradise for surfers or just simply for those who enjoy relaxation and bathing. Bidart is also a very dynamic town for business and shopping.
Residence Jardins d’Oihana respects perfectly the traditional and local architecture of the Basque Country. The residence is within walking distance from the Bidart village center with its commerce and services. All apartments offer either a private terrace or yard and large bay windows. The residence is surrounded by plenty of green spaces perfect for afternoon strolls or relaxation, even sunbaths!
SEEKING A MORTGAGE IN FRANCE?
When you make a purchase as important as a piece of real estate in a foreign country, you want to know that you can trust the people you are dealing with. Adrian Leeds has developed a network of professionals that meet only the highest of standards. With the expertise and experience of Adrian and her team, you can depend on getting the best advice and support to feel completely confident that you are making an informed investment decision.
Let us help you secure a mortgage in France at a competitive interest rate. Visit http://www.adrianleeds.com/frenchproperty/lo
an for more information or contact [email protected]
Managing Your French Property Insider Subscription is Easy!
We receive many emails from French Property Insider Subscribers who want to change their email address, or update personal information. But did you know that you can make these changes yourself?
2. Click on "Manage Subscription." You’ll find it under the "Subscribers Only" section in the sidebar.
3. Enter your username and password.
4. On the Welcome Page, go to "Manage Your Account" and click on "Change Password/Edit Profile"
5. Once you’ve made the changes, scroll down to the bottom of the page and click on "Save Profile."
Of course, we’re always happy to help, so if you do need assistance, send an email to [email protected]
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…and the newest guide, Practical Paris!
French Property Insider subscribers receive a discount of 10% off any guide and up to 25% off the entire purchase (if two or more guides are purchased at the same time). Here’s how it works:
1. Click on special Web link we give you just for FPI subscribers.
2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
3. If you order two or more guides, then an additional 15% will be
taken off automatically. There is no promotion code needed.
Here is the special "coupon" Web link just for you:
THINGS YOU NEED TO KNOW
To access password protected pages: click on any of the links on the left panel of the home page of FrenchPropertyInsider.com under "Subscriber’s Only," then type in your personal username and password.
Past issues of FPI are available on the website. You will find the
"Past Issues" link on the left under "Subscribers Only" or by going to
To receive your free French Leaseback Report or the Paris Property
Report, click on
HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: http://www.onlineconversion.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.
Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and memorable as possible. We at Parler Paris know each and every apartment owner or manager personally, and stand behind the quality of those we represent. We understand your needs and desires, all the small details that make a rental apartment a warm and welcoming home – and a much better alternative to an impersonal hotel!
Parler Paris Apartments is administered and serviced by the same great team as Parler Paris, French Property Insider and French Property Consultation. You can trust that Parler Paris Apartments and all those with whom it is associated will do their best for your 100% guaranteed satisfaction.
Two-Bedroom (One-Bedroom + Bedroom/Office), Sleeps 4
Rue Nobel is one of Montmartre’s most charming staircases — the romantic Montmartre we now know as depicted in the popular movie "Amélie Poulain."
On the third floor of an elegant "pierre-de-taille" building with an elevator, on a quiet stair-stepped street in Montmartre, with no through traffic or hint of noise, sits "La Bonne Nobel." Completely renovated in late 2007, this gem is bright, shiny and luxuriously comfortable. Every surface and corner of the apartment has been exquisitely decorated in soothing tones of pale blues, beiges and soft browns.
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/nobel.html
or email: [email protected]
SUBSCRIBE TO PARLER PARIS
If you’re not a regular reader of the Parler Paris daily e-letter, and would like to be, simply enter your e-mail address here (it’s free!): http://www.adrianleeds.com/parlerparis
Copyright 2010, Adrian Leeds®
Adrian Leeds Group, LLC, http://www.adrianleeds.com