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).