Location: Paris, France
Price: €18 million (about $20.08 million) at time of listing
This week we’re looking back on the Listings of the Day that garnered the most attention from our readers in 2016: a Paris penthouse, an English mansion, a Montana estate and a Texas waterfront playground. On Friday, readers can vote for their favorite property of all.
Up Now: A triplex penthouse in Paris
This was a rare listing for Paris, which made it into the top four of your favorite Listings of the Day for 2016. While in a typically elegant period building, the triplex penthouse is ultra modern, with three large outdoor terraces and its own swimming pool.
Unsurprisingly it has been snapped up by a wealthy French family, though it took a while, according to listing agent Philippe Menager of Philippe Menager & Nicolas Hug, an associate office of Knight Frank.
The house was on the market for over a year, at what Mr. Menager, believed to be a slightly over-the-top price of €18 million. With this money to spend, buyers are looking for perfection, says Mr. Menager, and the apartment had some downsides: no parking, and no “master suite.”
Many of the prospective buyers shown around were from the Middle East, Russia and China, who expect a grand main bedroom. They were all wowed, however, by the penthouse’s unique selling point: it’s jaw-dropping views.
There is no doubting which city you are in once settled on the sofa, from bed, in the shower, or with a glass of rosé in the sunshine. Each room, and the 2,000 square foot of terraces, look at the Eiffel Tower.
The three-floor apartment is 3,900 square feet with two reception rooms, five bedrooms and six bathrooms, two dressing rooms, a kitchen, laundry room, and study, plus a jacuzzi on the terrace opening out from the master bedroom.
If that wasn’t enough, there’s an additional a 1,600-square-foot basement, which is exclusively owned by the buyers of the penthouse.
It is unusual to have so much outdoor space in an old French building like this was one, which was built in 1880. Typically in Paris, it’s the less-desirable 1970s properties that come with enough space for a huge barbecue.
From the basement, a private elevator takes you to a swimming pool, sauna and massage room, bathroom, screening room, fitness room and two cellars. There’s also a Jacuzzi on the terrace.
The apartment is on Boulevard de la Tour Maubourg, in the 7th arrondissement, in an area that Mr. Menager calls “grand and conservative,” and is and very popular with foreign investors for its proximity to both the left and right bank.
A lot of homes in the area have a view over the river, and are just across the bridge from some of the wealthiest bits of the city, including Champs Elysees.
The French luxury market has performed well this year, says Mr. Menager. But, as demonstrated by the time it took to sell this penthouse, “Things don’t move very fast, but there is a high demand for high-end properties.”
Following the Paris terrorist attacks in November 2015 there was a short period of lull in the market, but, Mr. Menager said, “life goes on.”
“Paris is always a very desirable location. Prices are more affordable than London and New York, and interest rates have never been this low, people have lost faith in the stock exchange. All these factors mean it is a good time to buy in the city.”
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