ICD Grup purchases historic villa in the center of Bucharest

A historic villa, located in the central area of Bucharest - on 33 Căderea Bastiliei Street - was recently purchased from George Soroș Foundation by a local investor, together with ICD Grup - a group owned by the Chitafeș family. The transaction was assisted by the real estate consulting company Crosspoint Real Estate.

The property, with 1,300 sqm usable area and a plot of 1,200 sqm, is estimated at over EUR 2 million. “It should be added that, unfortunately, both the international context and the obstacles caused by the local administration have blocked, in many cases, a lot of transactions and prevented significant amounts of capital from reaching the market, which would have added value and would have created more jobs. However, we are glad to see restoration and conversion projects like these because they ultimately lead to the improvement of the city center’s image," said Cătălin Gavrilă, Partner, Land Development, Crosspoint Real Estate.