Paris
Rue de l’Université, shared ownership in Saint Germain des Pres: 3-bed 2-bath
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A fractional ownership apartment on Saint Germain de Près’ chic Rue de l’Université has 2 remaining shares.
The apartment has been beautifully renovated and decorated by distinguished designer Gisela Trigano. Light and airy with a smart layout, the result is a perfect mix of antique and modern furnishings from France and around the world which honor and highlight this magnificent period apartment.
Located in the heart of the exclusive 7th arrondissement, the building is one block from the Seine and nestled in between a private mansion, a cobblestone courtyard and the lush garden of a government ministry. Three large and elegant bedrooms, two modern marble bathrooms, spacious entertaining areas and top of the line modern amenities mean the property can comfortably accommodate six or feel just right for two.
Paris’s most popular attractions, best shopping, and exclusive art and antique galleries are all within a few minutes walk. Visit the Musée d'Orsay everyday if you wish - it's literally at the end of the street!
On the French first floor (2nd floor US) with elevator, the apartment overlooks a private mansion (Hotel Particulier) with private gardens - owners wake up to the sound of birds, steps away from the bustling Saint Germain shops, restaurants and cafes.
The rue de l’Université apartment is offered on a shared ownership structure, with a smaller co-owner group (6 owners) and flexible usage time from year to year. With our shared ownership properties, owners put in for time several months before the new year, and can additionally request time throughout the year as long as the property is not rented out or in use by another owner.
Features:
- Southern exposure, great light throughout the day
- 3 spacious bedrooms with 2 modern, well-appointed modern
marble bathrooms
- 1225 sq feet
- Central air-conditioning
- Designed by renowned Parisian decorator Gisela Trigano
- Eat-in gourmet kitchen with granite countertops
- Living room with working fireplace
- Luxurious detailing and designer furnishings
- Elevator
- Individual Storage
- Full size washer & dryer
- Extremely quiet apartment filled with bird sounds and light breezes when the windows are left open
- a truly relaxing retreat
- Secure access with door code and live-in concierge
- Wireless Internet and satellite TV
The property was just recently completed.
This shared ownership property is somewhat different offering than the traditional fractional property. A more intimate group of 6 owners, each owner is entitled to up to 8 weeks of usage per year. Owners have the option to reserve as little as 4 days at a time, making the property ideal for long weekends if you so wish.
There are two shares remaining in the property.
Weeks that are not used by the owners are rented out for luxury short term rentals, managed entirely by the property manager. Multi-bedroom properties in this area are much coveted, and occupancy rates are about 60-75% per year. The properties rent for 600 €/night on average, depending on the season. The rental income is shared proportionately by the owners, based on the amount of their personal use.
The shared ownership properties are a combination of personal luxury enjoyment and investment, generating rental income along the way, they are targeted for a sale at the end of 10 years of ownership. The owners may ultimately decide not to sell the property, but there is an exit strategy foreseen at the time of purchase.
Price: A 1/6 share costs $716,300. A mortgage is available, bringing the down payment to $362,887. Yearly maintenance for this property depends on your personal usage level.
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