Luxury real estate is only made of “exceptional goods” and of “rarities”. But when we talk about a 700 m² accommodation directly overlooking the gardens of the Palais Royal, the expression is not overused. You just need to know how difficult it is to hope one day to come across the sale of one of the apartments with these highly coveted balconies overlooking one of the most beautiful gardens in the capital, to understand that a building whole, it's the chance of a lifetime.
An American couple did not want to miss this chance. It would not have taken them more than two hours to have an absolute crush and secure this property offered at 25 million euros by the John Taylor network without negotiating. “However, they were looking in the direction of Saint-Germain-des-Prés, remembers Geoffrey Benoît who supervised this transaction with his colleague Jean-Philippe Roux, but we managed to attract them away from this beautiful neighborhood to introduce them to this gem.” Buyers immediately seized the unique opportunity represented by this 700 m² complete building on rue de Beaujolais (1st arrondissement) whose lots were brought together by the previous French owners. This 18th century building undoubtedly offers one of the best views of the gardens, “the most majestic”according to Geoffrey Benoît.
A staircase by Giacometti
This rarity had, however, been offered for sale for almost six months at an obviously high price (nearly €35,700/m²), but very far from the Parisian records for properties to be renovated. “The Palais Royal is undoubtedly a slightly more elitist setting and one that appeals to a smaller proportion of the international clientele than the view of the Eiffel Tower, estimates the real estate agent. And then, it is a question of planning on a property which is spread over 5 floors even if it has an elevator, which was a barrier for certain potential buyers. Last thing, and not least: we are far from a turnkey property and we should therefore not shy away from the (very major) work. “The buyer who already has a Parisian apartment knows real estate very well, specifies Geoffrey Benoît, he has an engineer profile, the work does not scare him and he is very well surrounded.”
The proof? The buyer has already made around ten visits with architects and technicians. As for the construction site, it should last at least two years, with costs generally ranging for this type of property from 5,000 to 10,000 €/m². This will then be an opportunity for the owners to appreciate the view day by day, to visit the famous Grand Véfour restaurant below, possibly to discover Colette's former apartment decorated by Jacques Grange, very close by and, finally, to enjoy one last surprise of their acquisition. The accommodation is decorated with a wrought iron staircase with double railing bearing the illustrious signature of the sculptor Diego Giacometti, Alberto's brother.
