Landmark Petrescu House to be restored as cultural hub after EUR 1.7 mln sale to Bucharest District 1 Council

The historic Casa Petrescu/Petrescu House, a late 19th-century architectural landmark in central Bucharest, has been sold to the District 1 Local Council for EUR 1.7 million, Romania Sotheby’s International Realty announced. The property will be restored and transformed into a cultural and educational center for the local community.

Built in 1895 by merchant Dimitrie Petrescu, the building at 115 Calea Griviței stands as one of the few remaining examples of Bucharest’s late 19th-century urban architecture. The property covers 682 square meters of land and includes a total built area of 1,656 sqm.

According to the National Association of Authorized Valuers of Romania (ANEVAR), its market value exceeds EUR 2.1 million, Sotheby’s International Realty said.

Casa Petrescu retains its original façade, ornate window pediments, and decorative floral motifs. Inside, high ceilings adorned with rosettes and cornices evoke the elegant atmosphere of the city’s former cultural salons.

Over the decades, the building hosted various commercial activities and, during the communist era, housed a grocery store and local tax office. It was returned to the heirs of the original owners in 2021 under Romania’s restitution law.

(Photo source:Romania Sotheby's International Realty)