Dropping $111 million on a Paris pied-à-terre may seem excessive to some, but not to Sheikh Hamad bin Khalifa al-Thani. The Emir of Qatar has recently purchased one of France’s most mythic private homes, the Hôtel Lambert.

Designed by Louis Le Vau in 1640, the property, which sits at the tip of the Ile Saint-Louis, had been the Paris residence of Baron Guy de Rothschild and his late second wife, society queen Marie-Hélène, since 1975, reports W Magazine.

Emir plans a huge overhaul of the building