Third time’s NOT a charm – Commerce

This was originally going to be a pick of the day post, but then I thought what do I have to lose, called to visit illico presto, fell head over heels for it, and made an offer on the spot.

Before you break out the bubbly – no, the offer was not accepted!  But I wasn’t really expecting it to, and the realtor was cool with that, and cool, period.

OK, let’s get back to the visit.  First of all, the building is absolutely magnifique.  Built in 1907 by T. Judlin & P. Gravereaux, it has an incredible glass door, ornate molding, beautiful lobby, stained glass in the interior staircase.  Nothing short of amazing.  This is the first building I have seen that has topped the Gobelins one we missed.*  Just gorgeous.  Oh, and concierge, cave, 4th US floor WITH ELEVATOR AND little balconnets on the living room and the bedroom.  The living room is a rounded room on the corner of the building with full Southern exposure!!!  The apartment itself has original decorative ceilings but needs TONS of work, much more than the “freshening up” the agent described – it has NO heat, and the kitchen, bathroom, electric, and floors need to be redone.

Perfect, basically…except for reality.  It was already at nearly 9k/m2 (just ridiculous!) and the work needed would push it over 10k/m2, which is not only out of our budget but also very high for that neighborhood.  Almost 9k/m2 plus it needs to be completely renovated (20k-40k)?  REALLY?  Who in their right mind would pay nearly 10k for an apartment in the 15th at Commerce, which is certainly a decent neighborhood but far from pulling in 10k/m2.*  Given the amount of work needed and the average prices in the neighborhood, I made an offer at a price that I think is fair – 8k/m2.  This was 35k lower than the asking price, and 10k and 25k less than the other offers on the table, but the agent and I both agreed that it couldn’t hurt because on sait jamais – who knows what could happen, maybe the offers would fall through.

They didn’t.

Even though the third time is not a charm in our case, I am grateful for the mere opportunity to visit something so beautiful.  It has also uplifted my spirits to know that apartments like that really are out there on the market.  The chance of finding something like this petit bijou makes the search and the wait and the phone calls and visits all worth it, and I’m stickin to my guns (and my crazy requirements).  Patience, patience is my current mantra.

*Average prices in the neighborhood are 7k-8k/m2 according to some realtors I spoke with in surrounding agencies, and 7k-9k in the building itself according to meilleursagents.fr.  The highest offer at the time I last spoke with the agent was 8500/m2, which I consider a stretch but clearly the market says otherwise!

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5 Responses to “Third time’s NOT a charm – Commerce”

  1. Struggler Says:

    I’m glad you can be upbeat despite missing this gem! Great to know that apartments of the type you want are indeed out there.

  2. The Real Life Impact Of Superstition | Christian Dating Online Advice Says:

    […] Third time's NOT a charm – Commerce « House Hunting in Paris […]

  3. househuntinginparis Says:

    Thanks. The realtor left me a message that all offers were rejected because the owner is holding out for full asking price. Absolutely insane, but I’m sure they’ll be able to get it…eventually.

    Further update: wow, they got it – offer at full asking price. Shows what I know. Even if we had the additional cash needed for this apartment I’m not sure I would feel comfortable paying that much for that location. At least that’s what I’m telling myself 😉

  4. Pernety, Pere Lachaise, Falguiere, Vavin, Denfert-Rochereau « House Hunting in Paris Says:

    […] failure to find an apartment (yet!) has nothing to do with our budget.  Ok, so we had to pass on that most amazing Commerce apartment (still dreaming of that beauty!) because it was out of our price range with the work needed, and of […]

  5. Rue d’Alencon « House Hunting in Paris Says:

    […] 2nd visit last week was a by-owner listing catty-corner to that amazing Commerce apartment.  30 m2 3rd floor walk up in crappy limestone building with no cellar and no concierge. […]

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