Crosspoint assisted land transaction for 8,000 sqm residential project in Bucharest

The real estate consultancy company Crosspoint Real Estate has assisted the sale of a land plot by a private investor to an entrepreneurial group with full Romanian ownership. Crosspoint represented the seller in the transaction worth two million Euro.

2018-09-24 14:35:27

The land is located in Obor area, on Ion Heliade Radulescu Street, on which a residential project will be developed, a total 8,000 sqm built area and will include about 100 apartments. The construction is scheduled to begin in the nearest future.

The project benefits from immediate proximity to the subway, park, mall, farmers market and a central location close to many important arteries, but at the same time it is secluded, being located on a street with a strong residential character.

"The area is dominated by buildings built before 1990, with a limited number of new projects and land available for sale," said Catalin Gavrila, Associate Director Land Development, responsible for the completion of the transaction. "This is the first transaction that Crosspoint has closed in this area and we strongly believe in its potential in terms of residential and office developments, with good access to public transport and all services in the area."

Crosspoint has been involved in the last years in more than 15 large land transactions, totaling 250,000 square meters. Considering the last 12 months, Crosspoint has assisted transactions with land plots with a total value of over 60 million Euro.