Peter Lindbergh’s Parisian Mansion Is For Sale | Kanebridge News
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Peter Lindbergh’s Parisian Mansion Is For Sale

The historic former abode of the acclaimed photographer was also once home to Picasso.

By Terry Christodoulou
Fri, Jul 31, 2020 5:05amGrey Clock 2 min

While we’re all dreaming of a French escape, the opportunity to own Peter Lindbergh’s (think Cindy Crawford, Naomi Campbell, Christy Turlington and that heady ‘90s supermodel period)  Parisian estate has come up for grabs.

The enviable 6th arrondissement address (5-7 Rue des Grands-Augustins) presents a grand mansion at the site of what was once the Hôtel d’Hercule – itself known to house a venerable who’s who across many differing eras.

Dating to the 14th century, the hotel and its various buildings housed former French kings, Savoy princes, lords, artists – including Picasso, who lived and worked here from 1936-1955 – among others.

King Charles VIII is said to have paid 10,000 pounds for the property in 1493, and it’s also claimed that a nine-year-old Louis XIII was crowned king within the mansion.

Lindbergh, who died in 2019, had the spacious mansion reflect his artistic career and life. The 496sqm residence covers three expansive floors complete with two kitchens, two cellars, a workshop, two parking spaces and a private 103sqm garden terrace.

The first floor harbours an entry hall opening to a lofty living room complete with fireplace, as well as two bedrooms, bathroom, kitchen, mezzanine office and loft.

The second floor boasts a robust interior complete with a bedroom, shower room and aforementioned workshop. The third floor, meanwhile, offers a red bricked industrial kitchen topped with wood beams, sloped picture windows and garden terrace.

The property is currently listed with David Stanley at Emile Garcin Propriétés for approx. $27.3 million.

Emilegarcin.com

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House values continued to fall last month, but the pace of decline has slowed, CoreLogic reports.

In signs that the RBA’s aggressive approach to monetary policy is making an impact, CoreLogic’s Home Value Index reveals national dwelling values fell -1.0 percent in November, marking the smallest monthly decline since June.

The drop represents a -7.0 percent decline – or about $53,400 –  since the peak value recorded in April 2022. Research director at CoreLogic, Tim Lawless, said the Sydney and Melbourne markets are leading the way, with the capital cities experiencing the most significant falls. But it’s not all bad news for homeowners.

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 percent,” he said. “That has now reduced by a full percentage point to a decline of -1.3 percent in November.  In July, Melbourne home values were down -1.5 percent over the month, with the monthly decline almost halving last month to -0.8%.”

The rate of decline has also slowed in the smaller capitals, he said.  

“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls,” Mr Lawless said. “However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.” 

The RBA has raised the cash rate from 0.10 in April  to 2.85 in November. The board is due to meet again next week, with most experts still predicting a further increase in the cash rate of 25 basis points despite the fall in house values.

Mr Lawless said if interest rates continue to increase, there is potential for declines to ‘reaccelerate’.

“Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire,” Mr Lawless said.

Statistics released by the Australian Bureau of Statistics this week also reveal a slowdown in the rate of inflation last month, as higher mortgage repayments and cost of living pressures bite into household budgets.

However, ABS data reveals ongoing labour shortages and high levels of construction continues to fuel higher prices for new housing, although the rate of price growth eased in September and October. 

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