Local developer One United Properties has acquired a historic building near the Romanian Athenaeum in central Bucharest.
The company paid €4.9 million for the property and the gross estimated gross development value is €21 million.
“Through this development, we want to bring back the appreciation of the past to these buildings, adapted to the new reality. Our long-term vision takes into consideration further developments in this area, as we want to contribute to the protection and regeneration of the cultural heritage in the center of Bucharest,” stated Victor Căpitanu, Co-Founder of One United Properties.
The building, classified as a historical monument, will be entirely renovated by One United Properties. After completing the restoration process, the building will host ten high-class apartments and commercial spaces within One Athénée project.
The historical buildings in central Bucharest are attracting specialized real estate developers that are looking to upgrade the buildings with office, residential and commercial functions.