Regular readers of the 56Paris blog will know that Eiffel Tower view buildings always sell for a premium.
But the latest Paris property sale is making headlines, not just because of the price.
We take a look behind the headlines at this historic piece of Parisian real estate – and its redevelopment potential in the future.
The enduring appeal of the Tower
The prestigious Îlot Chirac (Chirac Block) has found a buyer after more than a decade on the market.
Sold for a reported €170 million, it strengthens the enduring appeal of Parisian real estate – especially when the property boasts views of the Eiffel Tower or the Seine River!
The sale is actually four interconnected residential buildings, spanning over 10,000 square meters in total. The architects built all the structures in the Art Deco style.
The new owner is reportedly a French investor, and speculation has already started about what the buildings will become – new luxury real estate, or perhaps even a hotel?
The buildings stand at 67-71 Quai Jacques Chirac in the 7th arrondissement, just 200 meters from the Eiffel Tower. This means they offer some of the most close-up views of the monument that money can buy.
The first new owner in over a century
The Art Deco buildings that make up the Îlot Chirac are richly steeped in history.
They were first constructed in 1911 for the Oberkampf family – a wealthy dynasty known for producing 'Toile de Jouy' fabric. This decorative fabric is an icon of French design.
Back then the buildings were originally known as Îlot Branly – before being renamed in honor of Jacques Chirac, the late former President of France.
It’s been owned by the Oberkampf family from the beginning – which means the new investor is only the second owner in its 113-year history. This makes it a remarkable transaction in its own right.
What will the renovation look like?
Currently, there is only speculation.
It’s estimated that only 20% of the 60 apartments inside are occupied, and many require extensive renovation. So this could be a huge residential project, with the potential to create ultra-luxury new apartments set within the Eiffel Tower view buildings.
In total, the floorplan covers 10,000m². And so the agreed sale price of €170 million translates to 17,000€/m².
But once renovated, some market analysts predict the new apartments could sell for as much as €35,000€/m², and perhaps more for the corner properties which have views of both the Tower and the Seine from two perspectives – a double wow!
While this renovation is one option, other reports suggest the site could be transformed into a high-end hotel or even new retail spaces, given the prime location and iconic views.
Only time will tell what the future holds for the Îlot Chirac – and it’s in the hands of the new owner.
The allure of Eiffel Tower view buildings
In Paris, apartments with direct views of the Eiffel Tower and the Seine River command a premium.
These Parisian icons are not only symbols of our city, they’re also a powerful driver of real estate value. And the Îlot Chirac’s location between the Champ de Mars and Avenue de Suffren places it in a unique position to capitalize on this timeless allure.
It’s not just the Eiffel Tower and the Seine River – having views of any famous landmark makes a property hugely more desirable.
For example – this stunning Arc de Triomphe view apartment complete with a terrace and balconies, set in the prestigious northern 16th arrondissement. Fully renovated with high-quality materials, the elegant two-bedroom property combines Parisian charm with modern comforts.
As well as the views, the apartment is also just steps away from both the Champs Élysées and the Golden Triangle.
For prospective buyers and investors, it’s a reminder that when it comes to real estate in the City of Light, a good view is always in high demand.
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