Bernard Arnault buys three prestigious addresses in Paris for 900 million euros

The founder of the LVMH group would have acquired three prestigious Parisian addresses this summer.

In real estate terms, good offers follow one another in the Parisian market. Between the acquisition at the beginning of the year of for 200 million euros (and another for an estimated amount of 45 million euros) and the sale by the Cheval Paris fund, with 400 million euros more-value at the end of the day, is a transaction as spectacular as alone . , group owner [actionnaire de Challenges, ndlr]would have acquired a portfolio of three buildings in Paris for 900 million euros from the heirs of billionaire Claude Dray, who died in circumstances not yet clarified in 2011.

parisian luxury

The addresses are prestigious, starting with 22 Avenue Montaigne, which is none other than the flagship of the luxury group. This 18,700 m² building (16,000 m² of offices and 2,700 m² of boutique shops) was 60% owned by the Dray family and 40% by LVMH. The second building is located at 7, rue de la Paix, between the Place Vendôme column and the Opera. It offers 3,100 m² of offices rented to various tenants and 500 m² of shops occupied by the watchmaker Piaget. Finally, the third building is located at 12, place des Etats-Unis at 16me district, 5,600 m² of offices leased to the Martin Margiela haute couture house.

Between the Champs and Montaigne

Many real estate moves are underway within the LVMH group. In January 2023, the building at 50 Avenue Montaigne, dubbed “50 Montaigne”, will house several hundred group employees in 12,500 square meters of office space. The building required three years of rehabilitation works for 100 million euros by the real estate group of Saudi origin Olyan. At number 30, still on Avenue Montaigne, Christian Dior’s former private mansion has been transformed after nearly three years of work to unfold a 10,000 m² boutique that brings together all the collections (women’s, men’s, beauty and home), workshops neck[…]

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