A Romanian investor with a substantial portfolio of commercial spaces has acquired half of the landmark Scala apartment building from the heirs of the Bragadiru family.
The transaction, brokered by Special Properties, included 27 flats and studios, as well as the commercial space on the ground floor.
The Scala building, with a total surface area of 3,165 sqm, was constructed in 1936 on a 1,180 sqm plot. The property was returned to the family in 2001, following its nationalisation in 1950.
Daniel Țigănilă, Founder of Special Properties, said: "We have confidence in the extraordinary potential of the city centre and are already working on other transactions in this area."
Designed by architect Rudolf Fränkel, a key figure in the avant-garde movement, the building was conceived as a multifunctional complex. In addition to the flats and commercial spaces, it also housed the famous Cinema Scala, whose inauguration was attended by Queen Marie.
The building is on a list of properties to be renovated with non-reimbursable funds, according to the Municipal Administration for the Consolidation of Buildings with Seismic Risk (AMCCRS).
