Orange România puts historic Palace of Telephones up for sale

Orange România has put the Palace of Telephones (Palatul Telefoanelor), a historic monument in central Bucharest, up for sale. The property is being offered via a closed-envelope auction with a net asking price of 25.87 million euros.

Located at Calea Victoriei 35, the building dates back to 1933 and was designed by American architect Louis Seabury Weeks with the involvement of Romanian architect Edmond Van Saanen-Algi. The structure features an Art Deco style and stands 52 meters tall. The sale includes the main building, which comprises two basements, a ground floor, a mezzanine, and 11 floors, covering a total floor area of 11,764 square meters. The offering also includes 2,252 square meters of land.

The sale follows recent restoration works totaling over 7 million euros, which aimed to consolidate the structure and modernize its facilities for safety and fire resistance. The building is situated in a prominent area near the University and Revolution Square metro stations, surrounded by various cultural and commercial institutions.