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Kazakh Government official buys Paris apartment for €65 million
Central Asia | society | 15:05, 14 November 2017 | 1892
Avenue Montaigne

AKIPRESS.COM - A Kazakh government official has snapped up a luxurious, high-security flat in Paris for €65 million (US$75.8 million)—making it one of the priciest residential transactions in the city this year, according to Mansion Global.

The multi-million-dollar apartment is located on the ultra-ritzy Avenue Montaigne in the Golden Triangle and is a minute’s walk to the Champs-Élysées. It traded hands in an off-market deal brokered by Ignace Meuwissen, a Belgian dealmaker whose Moscow-based real estate company represents sellers and buyers from Russia and the former Soviet states.

The seller, the head of a Russian investment company, had combined a half-dozen apartments in the building, Mr. Meuwissen told Mansion Global. The combined apartment overlooks the historic Plaza Athénée, a celebrity-riddled hotel where rooms go for as much as $20,000 per night.

The seller started shopping the home around as a whisper listing only three months ago for €75 million (US$87.5 million), Mr. Meuwissen added.

The 1,200-square-meter (12,900-square-foot) home has five bedrooms, five bathrooms, a spa and separate wing for the staff. But its selling point for the Kazakh administrator was its high-security amenities, including a 55-square-meter panic room, bulletproof windows and separate quarters for security staff.

“It is a very unique apartment,” Mr. Meuwissen said, adding that it’s unusual to find a French home with this level of protection.

The broker declined to name the seller and buyer, describing them only as a Kazakh government official and Russian investor. But he says the deal is the priciest residential transaction in the city so far this year, something Mansion Global could not independently verify.

Prime real estate in the City of Lights has boomed over the past year. Luxury home prices have shot up 11.3% in the past 12 months, according to global real estate brokerage Knight Frank, which defines prime residential as the top 5% of the housing market.

Prime prices in the city now average about €18,000 (US$21,000) per square meter, according to Knight Frank. This latest deal went for three times that.

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