Discover a Fraction of a Treasure in Le Marais!
I saw it for myself just this week. Mary Ellen Gallagher, our Property Search Consultant who affectionately calls herself our “Search Engine,” found this ‘gem’ being the FIRST EVER visitor thanks to her specially cultivated relationship with a Marais real estate agent. It took her no time at all to offer it to Fractional Ownership Developer, Steve Navaro of “Paris Home Shares.” He, in turn, quickly made an offer before the ten potential buyers following in their footsteps even had a chance to take a breath!
Steve Navaro also hasn’t wasted a single moment in squawking about this very special new fractional offering. The property is already described on his Web site and several shares have already been sold.
So, if you have any interest at all, my advice to you would be to act VERY FAST…
But first, let me tell you all about this incredible piece of Paris property…
In the midst of the lower Marais district (4th arrondissement) amid a flurry of restaurants and cafés, just steps from the Hôtel de Ville (Paris City Hall), lies a quiet tree-lined cobblestoned 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. Aptly named, this little gem of a passage is truly “un trésor” — “a treasure.”
The boutiques and restaurants that line the street have a particular habit of choosing bright color facades that give it special life. The location is highly sought-after as it’s ideal for both visitors and residents alike. Rue de Trésor is accessed only from rue Vieille du Temple, and is just steps from rue de Rivoli, where one finds both Métro entrances at Saint-Paul and Hôtel de ville along with numerous bus lines. It is surrounded by boutiques, cafés, restaurants and every amenity possible, as well as most of Paris’ finest museums and sights in what is the oldest part of the city.
On rue du Trésor was once located the Hôtel d’Effiat dating back to the first half of the 17th-century. It was unfortunately destroyed in 1882 to create an impasse without a fortified exit of buildings. The name “rue du Trésor” was given to the impasse when it was discovered at the time of the demolition a treasure chest of money dating back to the 14th-century! The fountain at the end of the impasse is thought to be a remnant of the “hôtel.”
As recent as 2004, the work was completed to revamp the street as pedestrian-only. Gorgeous Haussmannian style buildings line both sides. At the very end, on the 5th floor of such a building, lies this newest fractional offering apartment, “Le Petit Trésor,” overlooking the historic “Fontaine de la rue du Trésor,” which is projected to be restored to a working fountain in the near future.
The spacious one-bedroom apartment measures 56.5 square meters (608 square feet) and is easily accessed by an elevator.
Facing south and at the tops of the Marais roofs, from it’s open balcony that runs the full length of the apartment, 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 the 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 euros and 79,000 euros. This is a “pre-closing” price, which is always substantially below final price when renovation work is complete. Occupancy is estimated to be 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 first serve 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 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). Steve suggests that you shop around, compare prices, and see 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 an absolutely gorgeous property in a fabulous location!”
If you would like to receive more information on this apartment visit /frenchproperty/fractional/tresor.html
Or to purchase your share now(!), email Steve Navaro at
A la prochaine…
Editor, Parler Paris
P.S. Steve will be speaking at the upcoming Living and Investing in France Real Estate Conference in San Francisco July 26-27 and we will all be talking about Fractional Ownership on many different levels. Please join us by registering now for this power-packed two-day conference in the City by the Bay.