Live Like an 18th-Century Aristocrat in This Wildly Decorated Parisian Apartment

Listing of the Day

Location: Paris

Price: €4.2 million (US$4.49 million)

This Rue de Rivoli home in the heart of Paris’s 1st Arrondissement comes with some serious design cachet: For one, it was one of the first major projects of notable French interior designer Didier Rabes, according to listing agent Paola Feau.

While an apartment, the four-level home is large enough to feel like a detached house, and Rabes decorated it lavishly to evoke an 18th-century chateau, complete with chandeliers, mirrored ceilings, Versailles-style parquet flooring and stucco imitation sculptures.

A wrought iron stairway connects the home’s four floors, while a lift also connects the three main floors.
Sébastien Dondain

Most of the building dates to the mid-19th century, though there are some remnants of the older Directoire style with its Neoclassical architectural forms, which were popular in the late 1700s, according to Feau.

This particular residence in the building also has the legacy of being the couture workshop of designer Madeleine Vionnet during the early 20th century, Feau said. It was later transformed into a private home, and with recent renovations, it boasts both a distinctive period atmosphere and modern comforts such as an elevator and a large modern kitchen.

Stats

The 3,207-square-foot apartment has four bedrooms with three full bathrooms and two half bathrooms. The apartment is spread over four floors including a lower ground floor, and is entered on the ground floor of the building.

Amenities

The home boasts a lift that goes between its three main floors, as well as a home office, and a 300-square-foot paved courtyard on the second floor that two of the bedroom suites open onto.

A separate, renovated apartment on the second floor connects to the main house, and can be accessed by both an interior staircase from the main house or through the building’s common areas. With two bedrooms, a bathroom, a living room, and a kitchen, “the apartment could be kept completely separate and rented or used for guests, or it could be used as an extension of the main house,” Feau said. “This little apartment has been fully renovated in a completely modern style, in contrast to the 18th-century-style main house.”

Neighbourhood Notes

Sitting right on the expansive Tuileries Garden, a 17th-century formal garden filled with statues, including 18 bronzes by Aristide Maillol, the location is also within a few minutes’ walk of the Louvre, Place Vendôme and Place de la Concorde, as well as the Jardin des Champs-Élysées.

“It’s one of the best areas in Paris,” Feau said. “It’s very, very central, with all the finest restaurants, fashion and jewellery boutiques and hotels, including Hotel Le Meurice and the Ritz.”

The Place Vendôme has historically been the home of many famous dress designers, with the stores of the couturier Chéruit and the shirtmaker Charvet still in situ.

Agent : Paola Feau, Daniel Feau and Luxury Portfolio International

Former President Donald Trump said he would ban undocumented immigrants from obtaining home mortgages, a move he indicated would help ease home prices even though these buyers account for a tiny fraction of U.S. home sales.

Home loans to undocumented people living in the U.S. are legal but they aren’t especially common. Between 5,000 and 6,000 mortgages of this kind were issued last year, according to estimates from researchers at the Urban Institute in Washington.

Overall, lenders issued more than 3.4 million mortgages to all home purchasers in 2023, federal government data show.

Trump, the Republican presidential nominee, made his comments Thursday during a policy speech to the Economic Club of New York in Manhattan.

Housing remains a top economic issue for voters during this presidential election. Rent and home prices grew at historic rates during the pandemic and mortgage rates climbed to levels not seen in more than two decades. A July Wall Street Journal poll showed that voters rank housing as their second-biggest inflation concern after groceries.

Both major candidates for the 2024 presidential election have made appeals to voters on housing during recent campaign stops, though the issue has so far featured more prominently in Vice President Kamala Harris ’s campaign.

Trump has blamed immigrants for many of the nation’s woes, including crime and unemployment. Now, he is pointing to immigrants as a cause of the nation’s housing-affordability crisis. Yet some affordable-housing advocates and real-estate professionals said Trump’s mortgage proposal would fail to bring relief to priced-out home buyers.

“It’s unfortunate that given the significant housing affordability crisis that is widely acknowledged across most partisan lines, we are arguing about a minuscule segment of the market,” said David Dworkin, president of the National Housing Conference, an affordable-housing advocacy group.

Gary Acosta, chief executive of the National Association of Hispanic Real Estate Professionals, a trade organization, said, “It’s just another effort to vilify immigrants and to continue to scapegoat them for any issues that we have here in the United States.”

A Trump campaign spokeswoman didn’t immediately respond to a request for comment.

Undocumented immigrants in the U.S. can obtain an obscure type of mortgage designed for taxpayers without Social Security numbers, most of whom are Hispanic. The passage of the USA Patriot Act of 2001 allowed banks to use identification numbers from the Internal Revenue Service as an alternative to Social Security, extending a number of financial services to people without legal status for the first time.

Mortgage loans for undocumented immigrants are typically higher interest and borrowers include legal residents who have undocumented spouses, Acosta said. Lenders include regional credit unions and community-development financial institutions.

In his speech, Trump said that “the flood” of undocumented immigrants is driving up housing costs. “That’s why my plan will ban mortgages for illegal aliens,” he said.

Trump didn’t elaborate on how he would enact a ban on such loans.

Though mortgages for undocumented people living in the U.S. are relatively rare, residential real-estate purchases by foreign nationals are big business , especially in expensive coastal cities such as New York and Los Angeles. These sales have declined in recent years, however.

Close to half of foreign purchases are made by people residing abroad, while the other half are made by recent immigrants or residents on nonimmigrant visas, according to an annual survey by the National Association of Realtors. Many affluent foreigners buy U.S. homes with cash instead of obtaining mortgage financing.

In his Thursday speech, which focused mostly on other economic matters such as energy and taxation, Trump proposed other measures to bring down housing costs, including cutting regulations for builders and allowing more building on federal land. Similar ideas appeared in the housing policy outline Harris released in August .

The former president has spoken on housing-related issues in speeches at other recent campaign stops, including in Michigan last month, where he touted his administration’s 2020 overturn of a policy that had encouraged cities to reduce racial segregation .

“I keep the suburbs safe,” Trump said. “I stopped low-income towers from rising right alongside of their house. And I’m keeping the illegal aliens away from the suburbs.”

Live Like an 18th-Century Aristocrat in This Wildly Decorated Parisian Apartment

The four-bedroom home is decorated lavishly, complete with chandeliers, mirrored ceilings, Versailles-style parquet flooring and stucco imitation sculptures

The Republican nominee says it would help bring down home prices, though these buyers account for a fraction of U.S. home sales