A Few Important Bits of News About Le Palace des Vosges!
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 apartm
ents featured on Parler Paris 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.
A la prochaine…
Editor, Parler Paris