Back to Madeleine (and more)

Very, very interesting day today.  Early this morning I was indulging in what some have called real estate porn, on one of those websites where the prices are given not in actual numbers but by castles,* and I happened to see a listing for a studio in art deco building near Madeleine.  Thinking that there must not be that many landmark art deco buildings at Madeleine, I called up, and sure enough the apartment was in the same stunning building as I visited last week.  But smaller, only a studio, on the 3rd floor, decent kitchen and bathrooms, and oh one last detail, one hundred thousand euros MORE than the first-floor one-bedroom I looked at last week.  Even though this was out of our budget, I was curious to see what an additional one hundred thousand euros could buy.  Was being two floors higher, overlooking Boulevard de la Madeleine instead of Rue de Seze, and decent kitchen and bathrooms really worth one hundred thousand euros more?

I guess only time will tell.  The studio has already been on the market two months, also telling.  I was expecting to be blown away by the interior but it was just meh, quite dated and basic, I won’t even bore you with photos.  However, the time spent with the realtor was invaluable – I learned that he sold a penthouse in this building, a 90 m2 apartment with 70 m2 terrace (hello!), for 1.5 M EUR (full asking price) a few months ago, and it was one the market for all of one day.  Unfortunately, as he so politely put it, his agency doesn’t usually sell “smaller” apartments and he was only selling this one because of his prior sale of the penthouse, so it is unlikely I will work with him in the future.

Encouraged by my positive experience with the realtor, I popped into a few agencies on the way home.  The first realtor was awesome and I will definitely follow up with her.  She didn’t blink at our wishlist and showed me some of her recent comparable sales, and I was shocked to learn that we might be able to afford a one-bedroom in the 7th.  The second one was rude – when I stepped in to talk about buying an apartment she barked “just look in the window.”  I thanked her and left, and will not be following up with her.  The third was out, and the fourth was a young kid who didn’t take my requirements seriously – he offered to show me a three-bedroom in a modern building that was one hundred and fifty thousand euros over budget.  And most promising, I finally spoke with my concierge about our search.  I think this will be the real jackpot as they own quite a few apartments in our neighborhood and they often hear of things before they are even put on the market – heck we are in our current apartment thanks to them.  So I am feeling much more hopeful today than I was a few days ago.  On y go . . .

*one castle = under 800k EUR, two castles = between 800k-1.2M, and so on.

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One Response to “Back to Madeleine (and more)”

  1. Struggler Says:

    I had never heard of the ‘Castle’ unit of measurement before. That’s so intriguing, but I guess it’s an easy way of defining broad ranges.

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