SPECIAL EDITION: “A Treasure of a Fraction…Can Be Yours!”
Don’t call it “Time Share” — because it’s not. We call it “Fractional Ownership” — because it is. The primary difference with Fractional Ownership is that you actually OWN a portion of the property associated with your usage of it, rather than simply paying for the rights to use it.
Once upon a time, there were a number of properties that fit this description in Paris. The properties were located all over the city and their usage calendars differed from one to another. There were a few different developers who knew how to do it right. The shares got scarfed up faster than they could be promoted.
I was very much a part of that revolutionary time, not only as the developer of one property (Le Palace des Vosges), but as the property finder for another developer and one of the marketers having sold dozens of shares ourselves on behalf of a few different developers. Over the years, a few shareholders have wanted to resell their shares and we’ve helped them find buyers.
A share is a highly marketable commodity, especially in today’s Paris where apartment rental has become increasingly difficult. Short-term rental properties are under attack by the city and that makes it harder to find suitable accommodations by part-time residents. That makes Fractional Ownership even more interesting — as a way for a regular visitor to Paris to have a place of their own without the expense and hassle of individual ownership.
As an owner of a share, you have the advantage of a luxurious property at a fraction of the price and decision-making shared by the entire ownership body making it virtually hassle-free. You arrive, you walk in with your luggage, and you make yourself right at home.
The good news is that one share is now available in one of the city’s best fractional properties — Le Petit Trésor.
Located on a quiet tree-lined cobblestone “passage” called rue du Trésor in the Bas Marais (4th arrondissement), this one-bedroom, one-bath, 56 square-meter (600 square-foot) apartment is just steps from the Hôtel de Ville and Métro Saint-Paul. Vehicle traffic is prohibited on rue du Trésor so that pedestrians can stroll freely and soak in the beauty of this oasis of tranquility. Gorgeous Haussmann style buildings line both sides of this passage along with shops and restaurants. This little gem of a passage is truly “un trésor,” a treasure. At the very end, on the 5th floor of such a building, lies “Le Petit Trésor,” overlooking the historic Fontaine de la rue du Trésor.
The apartment is easily accessed by an elevator. Because it is so high up and faces south, it offers a beautiful view of the Marais and the adjacent buildings and basks in sunshine on those sunny Paris days. The living and dining areas are quite spacious for an apartment of this size, and feature rich hardwood flooring, a fireplace and elegant ceiling moulding. It has large windows opening onto a full length balcony from which you can take in the Paris sights. The high quality leather sofa converts to a bed so that you can invite your friends to enjoy the apartment with you. There is a television, DVD player, laptop and printer/scanner and of course the apartment is equipped with WiFi, TV with access to hundreds of channels and a VOIP phone for free calling to almost anywhere in the world.
The kitchen, bathroom and bedroom have been relocated, enlarged and completely updated since the apartment was first purchased by the original developer. The kitchen is fully equipped with plenty of cabinetry and all the finest appliances: four-burner induction stove, convection oven, microwave, dishwasher, coffee maker, blender, toaster, cutlery, dinnerware, glassware and all pots, pans and many specialty items necessary for an at-home chef. It lacks nothing.
The bedroom has a large window overlooking a quiet courtyard and a large armoire for your clothing. The bathroom, equipped with a toilet, a large shower, a well-lit vanity and a separate washer and dryer, as well as a heated towel warmer, has a window for additional light and cross ventilation. It is accessible from both the foyer and the bedroom.
The apartment also features storage lockers located in the cellar for each individual share owner. There is a digicode for the building with an additional security door for residents and a coded lock for the apartment door.
One share in Le Petit Trésor is now available for purchase. It’s being offered to you, part of a very small number of special people, at a lower price than it will be offered in the next 72 hours to my entire community.
There are a total of 12 shares, owned by American, Australian and South African lovers of Paris. It’s a great team of owners with about three-quarters of them highly engaged. This is essential in the smooth running of Fractional Ownership property.
The usage calendar rotates so that all owners can enjoy different times of the year, advancing by three months, so that everyone has an opportunity to experience all times of the year in Paris. The usage starts on the 10th of each month, ending on the 9th of the following month. The usage for the share being offered begins July 10th, 2019, through August 9th, 2019. In 2020, the usage is scheduled for October 10 through November 9th, 2020. In 2021, because of the leap year, the usage is scheduled for February 10th – March 9th, 2021 and then the calendar adjusts back to the normal three-month advance.
A dedicated Google account is populated with shareholder documents (legal and annual meeting agendas/minutes) and has the apartment usage calendar that shareholders use (or lead manager populates for them). Many shareholders swap time, but also can buy time from one another at a pro-rated annual dues rate.
The annual dues were voted for 2018 of $1,300 (or 1,105€). The current owner has paid for 2018 and the new owner would be responsible for all subsequent years. The dues cover all operating expenses and annual taxes.
The special price for this share for you Parler Paris and French Property Insider Readers is just 127,000€.
A 10% deposit is required to hold the share. All documents will be sent to you for your review and a decision must be made within 15 days. If you reject the purchase (in writing), all but a small handling fee will be returned. If you accept the purchase, then full payment must be made within the next 15-day time period.
To visit the property (serious buyers, upon receipt of deposit), or for more information, please contact me, Adrian Leeds. Email [email protected].
P.S. There are virtually no Fractional Ownership Property shares on the market in Paris. Don’t miss this special opportunity! Contact me today to be the lucky buyer. Email [email protected]