Looks like Paris' most expensive apartment — an 1,862-square-foot first-floor in a 17th-century building overlooking the Seine in the 6th Arrondissement, the former property of the owner of the huge, fancy bakery chain Paul and macaron empire Ladurée — just sold at the record price of €8 million ($11 million).
Well, let's be clear: They mean a record price in square meters. It went for €46,200 per square meter, which is almost $6,000 per square foot. (In comparison, according to one report, average square feet in Manhattan right now is about $1,300, and last year in Paris was about $1,100, amid continuing reports that prices there are coming down.) This Paris apartment in question is just that — an apartment — whereas the big kahuna in Paris is a maison particulière, their equivalent of a private brownstone-type mansion. One — with 7,800 square feet indoors and 3,700 square feet outdoors — recently went on the market for $47.4 million.
In general, as exorbitant as real-estate prices are in Paris — especially for studios that make NYC studios look gigantic in comparison, and that often come with only two hotplates and a tiny stand-up shower — they are still somewhat cheaper than in New York. As far as rentals go, in my past few years of obsessive lèche-vitrine — window-shopping, though literally it means "window-licking" — in Paris to compare rentals to New York, I've concluded that it's still generally cheaper to rent there than here. Mostly I'm looking in the funky, immigrant/hipster neighborhoods of Paris' north and northeast (the 18th, 19th, and 20th Arrondissements), which would be the equivalent right now to places like outer Bushwick and Crown Heights, and it usually appears you can find a studio in those Paris neighborhoods for around $1,000, whereas a Craigslist search I just did on the New York 'hoods yielded little for less than $1,500. (But keep in mind, you may have to go without a stove.)
None of this is to say that it's necessarily easier for Paris' non-rich to find an apartment. It's not. It's income-documenting hell, just like it is in New York, with the added factor that there is much less of the looser, find-it-on-Craigslist-and-make-a-deal-with-the-nice-old-Polish-lady-downstairs secondary market that exists in New York. For that reason, Paris officials, just like their NYC counterparts, are trying to crack down on landlords who turn their properties into expensive short-stay venues at the expense of real residents who need affordable apartments.
But whereas New York authorities want to crack down hard on Airbnb renters of all stripes, Paris at least appears to be trying to distinguish between absentee mega-subletters and average folks who rent a spare room to guests from time to time to help out with the rent.
"We don't want to stigmatize Airbnb," Paris' new housing czar just said. "Most of their clients are in conformity with the law ... that's why we'd hope that they are living among their Airbnb guests."
If he really means that, then it's just one of the many ways that Paris, despite its world-class wealth, often prioritizes its average citizens and the public good over the hyper-rich. For example, the city just announced that, due to extremely high pollution levels, it hopes to automatically make public transit free whenever car-pollution levels exceed a certain point, to discourage car use. The city did just that for more than three polluted days in March, when I was there, at a cost of more than $5.6 million daily. The gesture sent the message that the city actually cared about public wellness more than its transit system's coffers. Could you ever see that happening with the MTA?
Most Viewed Stories
Rob Kardashian and Blac Chyna Reportedly Broke Up
Donald Trump Spent the Morning After the Debate Fat-Shaming Miss Universe, Again
It’s Finally Possible to Understand What Happened to Amanda Knox
Hillary Clinton’s Sickest Debate Burns
Ask a Boss: My Co-worker Wants Everyone to Call Her Boyfriend Her ‘Master’!
2009 Called — It Wants Its Vogue-Versus-Bloggers Fight Back.
22 Intimate Lost Photos of Marilyn Monroe
Former Miss Universe Becomes U.S. Citizen So She Can Vote Against Trump
Area Woman Interrupted by Man 25 Times in 26 Minutes
Our Scowling Hero Breaks a Smile
From Our Partners
powered by PubExchange
Latest News from The CutMen Who Protested Ryan Lochte’s Presence on Dancing With the Stars Are Charged With Misdemeanors
Two men were charged with two counts of misdemeanors on Monday.Serena Williams Refuses to ‘Stay Silent’ About Racial Inequality
“It’s not how far we have come but how much further still we have to go.”Young Girl Calls for End to Police Brutality in Heartbreaking Speech
It’s a devastating plea.The Y Has Returned in a Big Way to YSL
This is what Saint Laurent looks like post-Hedi.The Most Dramatic Backstage Photos You’ll See All Fashion Month
Preview the book Landon Nordeman: Out of Fashion.Even 100 Years Ago, People Were Worried About Technology Ruining Relationships
An old cartoon echoes some very modern anxieties.This Lipstick Was Designed by a Woman Who Can See 100 Million Colors
Maureen Seberg can see so many more colors than you.Brad Pitt Skipping Premiere to Focus on ‘Family Situation’
The actor may be gearing up to tell his side of the story in the tabloids this week.Please Help Wesley Snipes Find His Leather Jacket
He will be cold without it.The President of NARAL on What Abortion Means in This Election
It signals how the candidates feel about women.
The stretch feels like a backbend—but for your feet.Amy Schumer Just Broke a Major Milestone for Women in Comedy
She’s the first woman to land on Forbes’s list of the highest-paid comedians.The Very Uncomfortable Experience of Rewatching Election in 2016
An ambitious woman and the angry men who want to stop her.Ivanka Trump Is Great for Women, Says Man Married to Ivanka Trump
Ivanka Trump is the perfect person to handle “women’s issues,” according to her husband.World’s First 3-Parent Baby Is a Healthy Boy
He was born in Mexico to Jordanian parents.Nation Recovers From Post-Debate Hangover With Mary J. Blige and Hillary Clinton Memes
“What will you do to fix the national epidemic of hateration in this dancerie?”The Hottest Party of the Year Is This 6-Year-Old’s Drake-Themed Birthday Party
It has everything: an OVO cake, Drake balloons, fake money.See Haute Couture’s Most Romantic Looks
Intricate pieces, out for a stroll around Paris.Rob Kardashian and Blac Chyna Reportedly Broke Up
TMZ reports that all the baby-shower drama stems from a breakup.Fashion Bloggers Do Not Deserve This Backlash
Neiman Marcus jumps on Vogue’s bandwagon and blames social media for declining sales.