Local real estate developer One United Properties has sold the commercial property One Athénée in Bucharest in a transaction valued at EUR 24 million.
The transaction exceeds that of the package in the One Herăstrău Office building – a 30% stake for EUR 21 million, sold in the first quarter.
The company acquired the historic building in the center of the capital for EUR 4.9 million in the autumn of 2021, with the aim of transforming it into a luxury residential project. Its gross development value was estimated at EUR 21 million.
Frequently Asked Questions
What was the total value of the One Athénée sale?
One United Properties sold the One Athénée commercial building for 24 million EUR.
How does this sale compare to previous 2024 transactions?
At 24 million EUR, this deal surpasses the 21 million EUR sale of a 30% stake in One Herăstrău Office earlier this year.
What was the initial investment and development plan?
The building was bought for 4.9 million EUR in 2021 with the intent to develop a luxury residential project valued at 21 million EUR.