La Résidence Luxembourg
Tucked between the lushness of the Luxembourg Gardens and the grandeur of the dome of the Panthéon.
La Résidence Luxembourg offers 13 ownership shares in a completely renovated and fully outfitted one-bedroom apartment on rue Cujas in central Paris, located on the Rive-Gauche in the 5th arrondissement’s Latin quarter near the Jardin du Luxembourg. Each fractional ownership share entitles its owner to four weeks of usage each year…for as long as the owner likes. Each ownership share is fully transferable so that a fractional owner may sell or gift his/her share at any time without restriction or group interaction.
THE LOCATION
The apartment is tucked between the lushness of the Luxembourg Gardens and the grandeur of the monumental dome of the Panthéon and overlooks the bibliothèque (library) of La Sorbonne. It is simply impossible to describe all the charms of this neighborhood, whose streets and squares are replete with restaurants and cafés, shops and galleries, museums and theatres, services including several health clubs and swimming pools, fountains, and architectural wonders.
Since the apartment is located in the very heart of Paris, most of the city’s riches are within walking distance. Merely steps away are the Luxembourg Gardens, arguably the most beautiful park in the world’s most beautiful city. Created for Queen Marie de Medici, the meticulously manicured grounds have served as the backdrop for romances both personal and literary for centuries, and its flawlessly maintained palace is home to part of France’s legislature. In addition to the greenery, the Luxembourg Gardens features fabulous fountains, shady sitting areas, walking, and running paths, tennis courts, and Paris’ most celebrated children’s playground.
Soaring into the Paris skyline just a few steps in the opposite direction is the Panthéon with its majestic dome, a monument to the great men and women of France. Just beyond the Panthéon begins the famous rue Mouffetard market with its slanting, medieval streets and seemingly endless line of stalls and shops selling every kind of French food and produce. A few minutes walk in another direction takes you through the heart of the Saint-Germain district to the Seine, from whose banks one can gaze upon Notre-Dame, or stroll across Pont Neuf to visit the Musée du Louvre. Yet another path takes you to the Marais district (less than a 15-minutes walk), offering some of the city’s most interesting architecture as well as still another world of wonderful shopping, eating, and nightlife.
When going further afield there are numerous Métro stations nearby. The closest of these, adjacent to the Gardens, is the RER Luxembourg station, which provides rapid service to both Charles-de -Gaulle and Orly airports without changing trains.
THE APARTMENT
- One-Bedroom, one bath, 5th arrondissement
- Approx. 58 Square Meters (630 Square Feet)
- 13 Four-Week Shares
- Weeks start and end on Friday.
La Résidence Luxemboug is an airy, bright, elegant, and spacious one-bedroom Paris apartment. Viewed from the tall French windows of the large living room, the blue Parisian sky over the carved stone cornices, slate roof, and sculpted finial atop the dome of the Sorbonne may either call the fractional homeowner out into the streets below to experience all the pleasures of living in the City of Light, or invite them simply to linger at home beside the open windows, breathing in the romance of the ages wafting in upon the very air of Paris.
On the third floor (European, 4th U.S.) with a lift (!!), the apartment is in a 19th-century stone building oozing with history and charm. Exquisitely comfortable, yet impeccably decorated in a tasteful blend of modern and traditional furnishings, the apartment has broad-plank solid oak floors, original artworks, and a wood-burning fireplace with a period marble mantlepiece. You and your guests may never wish to leave, although all of Paris will be at your feet in this amazing central location.
Equipped with a highly efficient heating system (gas “chaudière” for never-ending hot water), air-conditioning for the warmest months, double-paned windows to insulate both sound and heating/cooling, a washer and dryer (stackable units), a fully equipped gourmet kitchen with dishwasher, microwave, large-capacity European refrigerator and freezer, oven and gas cook-top and kitchen and bath external air evacuation systems. The sofa in the living room conceals a truly superior queen-sized sofa bed with a thick, firm mattress for your guests. The sunlit bathroom is fitted with a full-length bathtub and shower, complemented by a heated towel rack and finished stone vanity. At the end of the day in the finely appointed bedroom, the high-quality mattress at 1.6 meters is several inches wider than an American queen-sized bed and has been dressed in high thread-count luxury cotton linens. Facing a courtyard, you are assured of quiet nights and restful sleep.
The apartment is not only livable but absolutely luxurious.
High-speed wireless Internet allows owners and their guests to roam the apartment with their own laptop computer. Cordless phones on a VOIP system provide seamless and free international and local calling. A flat-screen Samsung television with cable and DVD player is in each room, and a high-quality stereo and digital music docking capability complete the technical environment. As an owner, you will also appreciate the convenience of having your own locker to store personal belongings or that favorite case of wine, making the apartment seem even more like that the “pied-à-terre” you will call home.
Great transportation surrounds the apartment connecting you quickly and easily to all of Paris and beyond. The RER (regional train) direct to both airports (Charles de Gaulle and Orly) is just minutes away by foot, but the Métro lines 4 and 10 are just as close as are lots of local buses…but because the apartment is so central, you may enjoy Paris easily on foot.
If you’ve wanted to own your own Paris apartment in order to spend part of each year in Paris, this is the perfect solution. By sharing ownership with like-minded Paris lovers, you can have your dream Paris apartment with none of the hassles. By sharing your time with the other owners, carrying costs are covered for the entire year. This luxury Paris fractional apartment is an opportunity to own a charming and wonderfully renovated home in the heart of historic Paris, for a fraction of the cost and none of the hassle. Because you fully own your share, it can be passed on to your heirs or sold at any time.
THE USAGE
The available usage weeks of this share are April 9 to 23 and November 5 to 19, 2021 (every year the second week of April and November), however, owners may trade weeks between them and this is a very amenable owner group! (Usage starts and ends on a Friday.)
Very recently, French Girl in Seattle, Véronique Savoye, had the opportunity to stay at La Résidence Luxembourg. See and hear what she had say about it.
For information on purchasing your share in La Résidence Luxembourg, please contact us here or email your request to [email protected].
The available usage weeks of this share are April 9 to 23 and November 5 to 19, 2021 (every year the second week of April and November), however, owners may trade weeks between them and this is a very amenable owner group! (Usage starts and ends on a Friday.)
The usage assignment system has been designed to ensure absolute fairness, transparency, and predictability for each fractional owner. Under this system, it is impossible for an owner with more time on his/her hands or a better relationship with a manager or some reservation software to take advantage of the system or of other co-owners. The main element of this usage system is the elimination of the need to determine availability and make reservations. In addition to ensuring fairness in usage allocation, this arrangement dramatically lowers the complexity and time-consumption of managing the property for the co-owners and their management company, which in turn lowers the co-owners’ operating costs.
Each fractional owner of La Résidence Luxembourg will know exactly when he/she will be entitled to use the Paris apartment, one, two, five, or even 20 years in advance. While this arrangement may seem rigid at first glance, it in fact offers the ultimate combination of simplicity and flexibility. A co-owner can easily determine, either far in advance, or at the last minute, when he/she has been assigned a usage period which will not work, and which of the other co-owners might have a usage period which would be preferable. Armed with this knowledge, an exchange or reassignment may be arranged via email.
All of the operating expenses of La Résidence Luxembourg, including all taxes, insurance, repairs, utility and communication costs, and management expenses, plus a reserve fund for periodic repainting, redecorating and replacement of furnishings and housewares, are part of the co-owners annual budget.
Each fractional owner pays his/her portion of the budgeted expenses and reserves to the manager quarterly, less than 2,000€ per year per share.
- Furnished and turn-key with lovely views on an historic building, just a 3-minute walk from the Luxembourg Gardens
- Great security with a code to get into front door and a glass door with a key to get access to the elevator. Located on the 3rd floor with only 5 floors in the building, not including the basement.
- Sleeps up to 4 people in approximately 58 square meters (630 square feet)
- Air-conditioning in the living room and bedroom, with double-paned insulating windows throughout.
- Original art throughout, solid oak floors, texturized natural stone wall in the living room, kitchen backsplash mirrored over polished natural stone counter, custom painted kitchen cabinets with both stainless steel and matching cabinet appliance panels, black rails and grills on French windows.
- LIVING ROOM: Designer furniture with floor to ceiling silk curtains, sleeper sofa, a tablet computer, three chairs, a decorative antique marble mantelpiece and wood-burning, working fireplace, bookshelves, TV, DVD player/radio, phone with access calling US for free, plus other countries, wall heaters.
- KITCHEN/DINING: A table for 4 with chairs , refrigerator, four-burner gas stove top, multi-cook oven that does microwaving, convection, or regular baking, an Italian espresso maker with a fresh supply always of pods, an electric coffee pot, and a dishwasher, plus plenty of cabinets, silverware, dishes, glasses, wine glasses, cooking utensils and pots. (High quality appliances, gourmet kitchen wares with fine china, crystal, silver-plate.)
- BEDROOM: Queen-sized bed with storage closet in bedroom, as well as two end tables, a chair and lamp for reading, a dresser, TV, air conditioning unit, phone with access to free calling to states, other countries.
- BATHROOM: tub and shower with heated towel rack, toilet, storage space, equipped with all towels and a hair dryer.
- Stackable washer and dryer in a hallway closet with umbrellas, shopping cart, hangars for coats, room for storage.
- A locker in the basement for each resident.
THE LEGAL STRUCTURE
The Rue Cujas factional owners are each be part of a thirteen-member owners association (the “HOA”) formed under Delaware law. The HOA owns a French company called an “SCI” which, in turn, owns Rue Cujas. Under this structure, the co-ownership agreement is governed by and, if necessary, enforced under, U.S. law in the United States. This means that resales, gifts, and inheritances of fractional shares occur in the United States, avoiding the logistical difficulties of a French real estate transaction. In the unlikely event that an owner refused to pay dues or assessments, or reimburse the HOA for damage to the shared apartment, the HOA is able to use an efficient but fair U.S. foreclosure process. This ownership structure also provides a platform for the fractional mortgages from U.S. lenders which are just beginning to appear for non-U.S. properties and are expected to become more readily available over the next few years.
THE MANAGEMENT
To ensure that a trip to rue Cujas will always be spectacular and that the fractional interests will always have a value commensurate with the property and its location, the co-owners maintain ultimate control over all matters relating to the apartment, including the hiring and firing of the management company. To ensure that the apartment is always immaculate and perfectly equipped and stocked and that the fractional owners do not need to worry about day-to-day operating details, the apartment is managed by an experienced Paris-based property management firm which arranges all cleaning, maintenance, repair, and replacement, pay bills, and facilitate co-owner communication and decision making.
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