A loft in Paris
With interiors that liberate volumes and allow light to stream in, lofts and artists’ studios play on their originality. Mostly appealing to a Parisian clientele, these unusual properties are dotted around in various arrondissements in the capital, but are rarely up for sale. Focus on an insiders’ market…
While some of their characteristics are identical, lofts and artists’ studios differ in a good number of ways, as pointed out by David Zupnik, director of the Daniel Féau Paris 5e agency : “Lofts are old industrial buildings whose function has been changed so that they can be transformed into living accomodation. They are the result of all the industries which have moved out from the centre of Paris to the suburbs, leaving these large surface areas vacant. Lofts were particularly fashionable in the 1990’s, though the trend is still very much alive and this type of property is still in high demand. There are lots of them in the 10th and 11th arrondissements, Bohemian-chic neighbourhoods popular among a trendy clientele looking for this special kind of quality living. The loft can be defined as a large space with few partitions, crowned by a glass roof or skylight, very light and occupying the ground floor. This is the main difference as compared with artists’ studios, which are always on upper floors, facing north. Artists’ studios also benefit from lots of light, but their surface areas are smaller than lofts, most of them not exceeding 150 m2. Though we recently sold an exceptional artist’s studio of 200 m2 with a ceiling 8 metres high, in a select building on the Place du Panthéon, priced at 3.7 million euros. The 6th, 14th and 18th arrondissements are the ones in which you find the most artists’ studios”.
Given their highly specific features, lofts and artists’ studios make a clean break with the classicism of Haussmann apartments and attract a clientele with a taste for esthetics and even hedonism. According to Fabrice Le Ruyet of Propriétés Parisiennes Sotheby’s International Realty : “This type of property is of interest to buyers who enjoy entertaining and are drawn by the originality of these homes. While family life can be envisaged within the walls of a loft, though not so much in an artist’s studio, it is most often couples, singles or wealthy artists who acquire them. Parisians are particularly keen on these properties, whereas foreign clients and families prefer more straightforward layouts and the cosy comfort of a Haussmann apartment. Sentimental value lies behind the acquisition of a loft or artist’s studio, it is often a matter of love at first sight which turns into a real passion. The open space, generous volumes, wonderful light, architecture and layout of the rooms all contribute to the special character of this type of property, which is often transformed into a home of remarkably esthetic taste. Such is the case of the very beautiful studio of Tamara Lempicka in a building designed by Mallet Stevens in the 14th arrondissement, which we recently sold for 2.4 million euros to a French buyer”.
Rarity often justifies a property’s price, though for lofts it depends on the quality of the renovation work, as explained by François-Régis Moussion of Villaret Immobilier : “The location and floor area will obviously have an influence on the price of a loft, though its value is really determined by the quality of its rehabilitation, and especially that of its thermal insulation and soundproofing. Two points that are essential for lofts, which are structures not initially designed to be lived in. We are currently proposing a loft of 250 m2 between the Louvre and Rue Saint Honoré, which has been treated to very sound and tasteful renovation, priced at 2,280,000 €. Lofts and artists’ studios rarely come up for sale, in our agency they account for only 10% of our offerings. Their highly specific character targets a certain buyer profile, and almost systematically excludes foreign clients, who are not looking for such large surface areas. The loft is not simply something fashionable, but an art of living where one can benefit from a reception room of over 100 m2 ! In the case of artists’ studios, it is the historic aspect, the precious side and the charm of old features that act like magnets on their fans who, for this type of property, can find smaller surface areas starting from 40 m2”.
