Prestigious private mansions in Paris
Impressive buildings characterized by elegance and nobility, private mansions in Paris fall into the category of exceptional properties. Highly coveted by a wealthy foreign clientele keen on the French art of living, these golden nuggets are rare on the property scene and inevitably bear astronomical price-tags.
When you think of a private mansion, you imagine a sumptuous freestone building on several floors with a garden and court of honour. Though if you look up the definition in Wikipedia, a private mansion “is above all characterized as being an urban residence belonging to, and originally occupied by, a single owner. These are its only two features that are precise and quantifiable”. Which explains why this category of exceptional properties also includes sturdy town houses. In the eyes of Philippe Menager of the Philippe Menager & Nicolas Hug agency : “The difference between a private mansion and a luxury town house is rather blurred. One first thinks about the historic aspect, the nobility of the architecture, impressive volumes, listed interior decors and enchanting gardens… Though there are residences whose walls do not date back to the 18th or 19th centuries, which offer neither Versailles parquet floors nor period panelling, which nevertheless deserve to be described as private mansions due to their outstanding character. One example we are currently proposing for sale on the Rue de Grenelle is a modernist mansion surrounded by gardens, offering comfortable amenities that are perfectly suited to today’s requirements : parking places in the basement, an indoor swimming pool, movie lounge, 24/7 concierge service... Whether old or modern, these private mansions are rare. To prove the point, we currently only have 11 mansions in our portfolio out of about 200 properties on offer. You have to remember that the majority of the capital’s private mansions have been split up over the years into apartments. They are to be found in neighbourhoods once favoured by the aristocracy or upper middle class : Faubourg Saint-Germain, Le Marais and the 16th arrondissement. These exeptional residences convey an impression of elegance and flair”.
Immediately associated with the French art of living, private mansions continue to appeal strongly to a foreign clientele : “This type of property attracts wealthy buyers including French businessmen and bourgeois Parisian families,” says Nathalie Garcin. “However, foreign clients are in the majority for this type of transaction, often requiring a budget of over 5 million euros. Buyers from the Middle and Near East, affluent British and American clients are very keen on these top-notch properties. And over the past two years, the Chinese have gradually been arriving on this market. Private mansions and luxury town houses draw a well-heeled family clientele in search of space, privacy and independence, all criteria that are hard to find in an apartment. As such properties are scarce on the market, sales of very enviable mansions are also rare. It is a highly selective market, also encompassing town house with large surface areas and other remarkable residences. Since the spring of 2015, the Parisian market for luxury real estate has begun to pick up. This new activity can be explained by the decline of the euro, very low interest rates and prices which have again become reasonable. Overall, the market is healthier, foreign buyers, especially Americans, but also the French, are making a comeback.”
Urban residences for an elite, these diamonds on the real-estate market are homes in prime locations, basking in peace and quiet : “In the 8th and 17th arrondissements in Paris, one comes across little “islands” with remarkable stone masonry mansions, especially in the Plaine Monceau neighbourhood and around Parc Monceau,” says Arnault Le Roux, director of the Agence Féau in the 17th arrondissement. “They are rare properties offering high prestige and posting very high prices. The location is extremely important for French families who greatly appreciate the 17th, its neighbourhood atmosphere and the closeness of schools, while foreigners prefer the 16th or more central arrondissements such as the 6th or 7th, and the famous “Golden Triangle” where one also finds outstanding properties. Two years ago, for example, we sold, at a price which remains confidential, the former private mansion of the Guerlain family, located close to Place Catrou in the 17th, which had retained very beautiful architectural features (hearths, wood panelling, painted parquet floors…), while benefiting from modern appointments. It’s worth remembering that the majority of private mansions in Paris were built from 1870 to 1910, and that the kitchens were then in the basement. They have since been relocated on the reception levels. The facades have been retained but the interior layout has often been completely restructured and endowed with modern esthetics. There is a self-evident aura of prestige around private mansions, this type of property is a symbol of wealth for families who thus display their nobility and a very special art of living.”
