Property Invest #2 by Crosspoint Investment Banking & Real Estate

property invest the premium estate magazine

issue #2

Publisher:

Exclusive affiliate in Romania of:

Contents Retail 1

Retail: 10 great trends for 2015 by Laura Berezitchei, Associate, Office & Commercial, Crosspoint Real Estate Asia and Middle East present: The future of Shopping Centers

INVESTMENTS 5

Excitement from land transactions & residential projects “in the making” by Mihai Dumitrescu, Managing Partner, Crosspoint Investment Banking & Real Estate

OFFICE 8

EDITORIAL: Office builds on hopes for sustainable growth by Simona Bazavan, Senior editor at Business Review 5 EASY STEPS: Prepare your Office Space for Lease by Eduard Holban, Senior Account Manager, Office & Commercial, Crosspoint Real Estate Marian Roman, CA IMMO: Romania may become an attractive “office hub”

9 10

ARCHITECT TALKS 24 25

Dorin Stefan, DSBA: The future looks smart! ADNBA: The Shopping Mall is Becoming a New Street

RESIDENTIAL 27

EDITORIAL: Great expectations for high-end residential market by Simona Bazavan, Senior editor at Business Review Bucharest Properties for sale / rent

INTERNATIONAL PROPERTY INVESTMENT Codrin Matei (Crosspoint) in the International Advisory Board of LeadingRE NEW YORK PROPERTIES for sale

46 47

Publisher:

Your contacts:

Crosspoint Investment Banking & Real Estate

Mihai Dumitrescu

www.crosspoint.com.ro | www.crosspoint-imobiliare.ro

Managing Partner mihai.dumitrescu@crosspoint.com.ro

office@crosspoint.com.ro | office@crosspoint.co.uk

Codrin Matei

Simona Buta

Managing Partner codrin.matei@crosspoint.com.ro

Project Coordinator simona.buta@crosspoint.com.ro Graphic layout & DTP www.cromaticstudios.com

Print: 3.000 copies Distribution: Bucharest Channels: corporate only

+40 212 32 45 40

Retail: 10 great trends for 2015 1

Transforming the mall experience by leveraging technology and multichannel strategies. The most innovative malls today look nothing like their predecessors The digital transformation of retail is not all bad news for malls. On the contrary, it presents new opportunities for malls to engage consumers throughout their decision journeys.

Exploration of new formats and commercial real estate opportunities. Although location remains the key real estate consideration for malls, a differentiated design and structure is increasingly important. Open air malls go a long ways toward lending an atmosphere of a town center, especially when they incorporate mixed use real estate. Many of the malls being built in urban areas are open and fully integrated with the landscape.

3 by

When a friend of mine said he was working as an IT developer for a huge international fashion retailer in UK, I said: “How cool, I believe they`re investing a lot in mobile apps and professional websites!”. He said: “Actually, we`re developing software to detect common features among our customers, such as body weight / height/ eye color or what type of clothes they are trying in the cabins. This way, we can adapt our production line and marketing campaigns to a very specific behavior”. This is to one extent how technology is impacting retail. As several major inaugurations and M&A deals are expected in the retail sector this year in Romania, we looked at the major trends expected to impact the retail world in 2015. What you will read below is what we believe relevant in terms of tech, customer behavior and what we believe developers and retails need to know. Enjoy & take notes!

Social networks will serve as shopping platforms. Over the last several years, brands have used social media to market their products, talk to customers, and even make merchandising decisions; but in the coming months, we anticipate merchants to add “selling” to the list of things they can do on social sites.

Loyalty-wise, the points-for-purchases model will no longer be effective. Enriching and personalizing the shopping journey will no longer be limited to tailored product recommendations and offers. Forward-thinking retailers will find additional ways to make each customer’s experience unique and memorable. We predict that one of the areas that they’ll focus on is customer loyalty.

Retailers will even more adopt and experiment with technology. Merchants will adopt and/or experiment with tech innovations and figure out how they can use them to improve the shopping experience. We’ll likely see more of the following in the coming year:

Gen Y—a young but equally large—market segment will continue to be a major influence in retail. Merchants who want to reach millennials will need to invest in mobile, as they are the largest group of smartphone owners (and adoption is still growing).

Laura Berezitchei

Associate, Office & Commercial Crosspoint Real Estate

Millennials will continue to heavily influence retail.

POS TECHNOLOGY BEACONS WEARABLES

AUGMENTED REALITY 3D PRINTING

Property Invest

Retail

Crosspoint assists the first major retail transaction of 2015

Data will be more accessible and powerful. Next year, we expect the number of businesses using big data and analytics to grow. Retailers will realize that they need to rely on data in order to get to know their customers and provide customized shopping experiences.

GTC sells Galleria Mall Buzau to Eurosting

Retailers that localize their product mix and store formats will win. Localization will be more important than ever. Merchants that customize their stores and merchandise according the needs of their local communities will find great success in 2015. Consider what retailers such as Starbucks are doing. In order to tap into dense, urban markets, such chains have started to deviate from their usual store formats to establish smaller, “express” stores in specific locations.

Globe Trade Center (GTC) Real Estate sells Galleria Buzau shopping center to Eurosting, a Romanian company specialized in production and distribution of fire extinguishing systems. Eurosting, with a EUR 8 million yearly business, took over the retail center, including the existing leases and plans to reposition and re-brand the shopping center. Crosspoint Investment Banking & Real Estate oversaw the financial aspects of the acquisition and is currently overseeing the repositioning of the shopping center on the Buzau market as well as the tenant mix. GTC opened Galleria Buzau in 2008. On 14,000 sqm leasable area, it hosts tenants such as Leonardo, TinaR, Fox, Casa Rusu, Flanco, Adidas.

This was the first major retail deal in 2015. We have positive signs for mergers and acquisitions this year, in various fields, and we believe we will see several significant market deals this year.

Retailers Will Exploit The Mainstreaming Of The Health And Wellness Trend. What began as a fringe movement of people interested in organic food is now becoming a major retail trend. In translation: a cross-section of shoppers seeking healthy choices beyond traditional health categories, such as food, beauty, home, active wear and technology - with huge opportunities for lots of brands, categories and retailers.

“

Codrin Matei Managing partner Crosspoint Investment Banking & Real Estate

Retailers Will Woo Shoppers With Food. As online shopping has captured consumer mindshare, retailers must find new reasons to lure shoppers into stores. More retailers are recognizing that a way to a shopper’s heart is through his/her stomach.

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One example: Macy’s Herald Square flagship in New York City is expanding its food and beverage offerings, from a full-service Italian restaurant Stella 34 Trattoria to several Starbucks.

Retail

Asia and Middle East present:

The future of Shopping Centers Spectacular design, city in the city facilities, dynamism, futurism, high consumer engagement and sophistication - this is what the newest shopping centers in the world offer. In this terms, Asia and the GCC countries set the pace for the entire world, their newest developments displaying how the future of shopping malls looks like.

AL RAYYAN GATE – Mall of Qatar, scheduled for 2015 completion. It will contain world`s largest IMAX theatre, an “Angry Birds” theme park, 500 shops and 80 F&B outlets, residential buildings, business offices, sports , schools, leisure districts. Last but not least, a five star fashion hotel featuring 210 rooms – part of the Curio Collection by Hilton.

OASIS Mall – China, designed by Aedas, one of the world’s leading global architecture office, awarded at the prestigious Asia Pacific Property Awards Ceremony.

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Retail

NAKHEEL MALL – DUBAI, scheduled to be completed by 2016. It will feature 200 stores, 12 restaurants, 6 medical clinics, a nine-screen cinema and a 50-story hotel alongside it.

SHANGHAI Disneyland and Luxury Shopping Complex - opening in 2015. The 50,000 sqm site will stock a variety of luxury Asian and International lifestyle brands with collections selling at discounted prices. The shopping complex is set to be “the most important tourism outlet shopping location in Asia”, as the developers state.

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Retail

Investments:

Excitement from land transactions & residential projects “in the making”

Mihai Dumitrescu Managing Partner Crosspoint Investment Banking & Real Estate

The local real estate market has definitely started with a better dynamics in 2015, as compared with the previous years and transactions in the land segment and residential projects “under development” area are announcing an interesting period ahead. As of the beginning of the year, Crosspoint Real Estate data outline intense activity on the land segment – even more intense than on the residential sector. Demand for land plots has significantly increased and investors are buying several land plots at a time, to ensure their infrastructure for future developments. If in the recent years, the land market was kept active by the retailers` expansion, now we are seeing increased activity from the residential developers. On the office market, we see an increased appetite from investors looking for buildings with a good occupancy rate and with a good mix of tenants. From the demand point of view, an interesting niche is that of start-ups and dynamic IT&C companies, with a great development potential in the next period, which are looking for smaller office spaces (100-150 sqm). At the moment, there is still room on the market for medium – size buildings development, to offer such spaces – also for companies active in the consultancy area.

trying to lure shoppers into stores by means of adjacent food businesses. After all, the way to a shopper’s heart is through his/her stomach! On the industrial area, another interesting trend is that the development of the local online shopping market entails an increasing demand for logistic / depositing spaces. On the high-end residential area, our data point out to an increase of sales of apartments in residential projects in the building stage – a net indicator of market recovery. A situation that was not even present on the local market in the 2006-2008 period is also registering now: more and more apartments are now being contracted in stages even before the release of authorizations for construction. The new Fiscal Code, announcing more relaxed fiscal conditions, banks` relaxation on the loan activity and the return of “traditional” developers on the market creates the premises for an …interesting year for real estate investors.

In the commercial sector, well-known retailers opening of new locations are still active and new international brands are also scouting the local market. One interesting trend that we have been analyzing is that retailers will introduce new business models in the next period – such as fashion retailers

Property Invest

Retail

The Mansion Boutique Hotel Historical Monument Building Bucharest Historical City Center

UNIQUE HOTEL & COMMERCIAL DEAL OPPORTUNITY Layout: B + GF + 1F + Attic Land surface: 522 sqm Total built area: 1.570 sqm

Vicinities: Bucharest Old City Unirea Shopping Center Unirea Subway Station Victoriei Ave CEC Bank HQ

B + GF â&#x20AC;&#x201C; commercial space 1st F + Attic - 19 rooms (boutique hotel)

Landmark location with high traffic & commercial exposure Increasing foreign tourism in the area Full building rehabilitation & contemporary interior design Inner yard lobby 2 cafes Restaurant & Pub

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Laura Berezitchei Associate, Office & Commercial Crosspoint Real Estate +40 751.515.155 laura.berezitchei@crosspoint.com.ro

AGENT

o f f i i c e Office was the most dynamic real estate sector in 2014 and will most likely maintain the position this year as well, albeit with no major trend shifts forecast.

Property Invest

Office

Office builds on hopes for sustainable growth

Simona Bazavan

Senior editor at Business Review

Office was the most dynamic real estate sector in 2014 and will most likely maintain the position this year as well, albeit with no major trend shifts forecast. A total of approximately 300,000 sqm of office space was leased last year in Bucharest, out of which less than half represented new demand, in line with the previous year’s figures.

2015 as part of projects such as Bucharest One, developed by Globalworth, the second building of Skanska’s Green Court project, the final two development phases of AFI Business Park and the third building of Sema Office. Most of these developments are located in the Barbu Vacarescu area of Bucharest and in the western part of the capital.

The market is expected to post similar results this year as well. So who’s fueling demand for office space in Bucharest? Romania, and its capital in particular, has been benefitting from a wave of outsourcing and IT companies arriving over the past few years, in response to lower costs, a versatile labor force and overall improving economic performances. The fact that Romania can offer this at more competitive costs than the region’s leaders, Poland and the Czech Republic, has made it even more attractive to such companies. Industry representatives forecast that this trend will continue in 2015 as well, with both existing players expanding their operations and newcomers entering the market. And lower operational costs are not the only factor fueling this, they claim. The value of the local labor pool and its capacity to perform increasingly complex processes will ensure that the local office market is looking at sustainable growth ahead.

Given all this, the vacancy rate will most likely drop slightly below last year’s average of approximately 13.5 percent. However, beyond 2015 the new office stock is forecast to increase significantly – it is expected to double in 2016 to about 300,000 sqm – and should demand maintain present levels the vacancy rate will go up and there will be more downward pressure on rents.

As a result, some 12 new office buildings totaling approximately 120,000 sqm were delivered in 2014. A similar stock is scheduled for completion in

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Looking beyond Bucharest, the office market is showing positive signs as well. Although the capital continues to get the lion’s share of new business, some 40,000 sqm of office space was leased last year outside the city, up by half compared to 2013 and seven times more than in 2012, according to market representatives. Cluj-Napoca, Timisoara and Iasi were the most attractive alternatives to Bucharest, these also being the cities with the largest stocks of office space outside the capital. This is an excerpt. Read the full article at www.business-review.eu

Office

5 EASY STEPS: Prepare your Office Space for Lease A client which is capable of running a successful business and thus sustaining a certain rent level will be more demanding and at the same time lured by or willing to adhere to an image which best represents his aspirations. Everyone wishes to sell the most sought after products or services, to be an exemplary partner, the most desired employer, in short, to have the best brand image as a whole. The office space is therefore an element which surrounds, helps develop and best represents the activity and the image of a certain company. A recent study on decision-making has revealed that a person takes a decision subconsciously in the first 6 seconds. That is why the image of an office space we are promoting is crucial in settling for a deal. In life in general and in real estate in specific, with a focus on the office segment, the image sells like no other technical specification except probably price.

As 65 % of the population is visual learners, images are clearly key to engaging people.

Eduard Holban

Senior Account Manager, Office & Commercial Crosspoint Real Estate

Fix it up and Clean It Up

Implement a showroom

Replace carpeting OR have carpeting professionally cleaned

Efficient layout for all needs

Exterior & Entrance

Final Your office represents a lifestyle, a neighborhood, a place where someone spends most of his or hers actual time. Think about your ideal client, and prepare the office accordingly. Put in the time, the attention and the care – just like you might for yourself – and you will be rewarded.

THINK! 9

More benefits for the tenant Configure on the ground floor or wherever possible two shared meeting rooms, one larger up to 30 people and one smaller 6-10 people with the furniture and equipment to host trainings and meetings available for free only for the buildings tenants, with a prior reservation notice. Arrange if possible a shared leisure room, courtyard or cantina for the employees to interact, eat and charge batteries. This will yet again help the tenant companies maximize the usable office space. Include small gifts: One parking place per company for the GM free of charge. Offer the tenant’s employees a free parking for bikes with an eventual shower cabin in the basement. Make a deal with one of the famous fitness providers and offer the tenants employees a discount to a renowned fitness provider. This can be done easy and free of charge. To overcome a remote position ensure a connection with the nearest subway station through a minibus, during rush hour interval.

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Office

Marian Roman, CA IMMO:

Romania may become an attractive “office hub”

“A remarkable growth” is what Marian Roman, Managing Director with CA Immo Real Estate Management Romania, one of the largest income producing property owners, estimates for the next period, on the office segment. More on the local real estate market, growth indicators or how the office space evolved in the last period, in the interview below.

The macro economic landscape Certainly, we are now in a time of favorable perspective for the maintaining and improvement of the macroeconomic indicators, confirmed by the global trend, but also with direct influences on the real estate market. We hope to see sustainable growth in the next period, so that the progress we obtained until now to contribute to the strengthening of the grounds of this industry that was so thoroughly affected by the recent economic crisis. The office space market in Bucharest in 2015 In Bucharest, the real estate market is undergoing a remarkable growth in the office segment, as regards the lease activity, respectively the net demand (the main indicator of a healthy growth) – that grew by some 30% in 2014. The sustainability of the total office space demand increase represents the key development of the market indicators, including the guarantee of a stock of buildings that meet the quality standards requested by the tenants - mostly multinational companies with clear requirements at an international level. Further on, CA IMMO is focusing on maintaining the current tenants portfolio in its buildings (Europe House, Opera Center, Bucharest Business Park and Riverplace), as even in the 2012-2014 period the retention rate was more than 95%.

The office area known in the market as “Center - West” proved to be a very dynamic one in the recent years, offering a viable alternative to the “Barbu Vacarescu - Floreasca” corridor, whose accelerated growth puts into difficulty, as access and traffic are concerned, all employees of the companies located in that area.

Status of the Orhideea Tower project Orhideea Towers is a major objective for CA IMMO at the moment, undergoing a full pre-lease campaign.

The local office market as compared to mature markets The office space in Romania should objectively remain connected to the pulse of the other markets in the region. It is tending to line up to the requests of the international clients, who come with their experience and impose their superior quality standards. From this perspective, Romania may become an attractive “office hub”, and not necessarily because of an inferior labor cost.

We are under advanced negotiations with clients interested of a relocation/ consolidation in the Project, considered as an optimum solution through its technical specifications, but also through facilities such as: accessibility and visibility of the location (15 Orhideelor Ave., in the immediate vicinity of the Basarab Bridge), the positioning adjacent to the central area of the city but also the fluent connections to DN1, A1, through the infrastructure system that is under development now (penetration Splaiul Independentei-Ciurel-Autostrada Bucuresti-Pitesti).

The contemporary office space There is always room for progress! The quality of the working environment is essential for the employees and many times, as Owner, I understood this, from the discussions I had with the tenants. We consider that the relation between the Owner and the Tenant is one of partnership, and the Owner, through his diligent actions, can contribute to maintaining an adequate “office environment”, also maintaining and improving the standards of the building itself.

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Office

Cool building for investment 1 May/Expozitiei Area

Building consisting of basement, ground floor and 4 floors, built area 3.400sqm, net area 2800sqm, free yard 800sqm, total land 1.400 sqm. The building needs renovation.

for SALE 1.150.000 â&#x201A;Ź

Alexandru Boff Associate, Residential Crosspoint Real Estate +40 747.122.021 alexandru.boff@crosspoint.com.ro

Rooms no.: 90 Bathrooms: 10 sqm

Built area: 3.400 Sqm Net area: 2.800 Sqm

Parking lots: 25

WHY INVEST: excellent location - 3 min. walking distance to subway station multiple possible functions great acquisition price: 100 EUR / built sqm

AGENT

Possible destination: office building hotel student hostel

MAGHERU ONE TO LET

Promotional offer (by June 30): complete free fit - out sqm

Available Units:

5th floor (306 sqm) The office is open spaced and fitted with kitchenettes and sanitary units offering open galleries full of sunlight and open-able windows from both facades. The space can be partitioned upon request. 6th floor (476 sqm) The office is open spaced and fitted with kitchenettes and sanitary units offering open galleries full of sunlight and open-able windows from both facades. The smallest rentable unit are of ca. 167 sqm and the maximum number of tenants per floor is two. The space can be partitioned upon request.

Eduard Holban Senior Account Manager, Office & Commercial Crosspoint Real Estate +40 747.222.240 AGENT eduard.holban@crosspoint.com.ro

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Floreasca Tower Built to suit Development Floreasca Tower, owned by UNIQA Real Estate Management, a subsidiary of Austria based insurance “UNIQA Group”, is a landmark building on the Bucharest office market, located at the northern end of Floreasca str., at the junction with Pipera, next to the new Pipera over-pass and only 30 meters from the Aurel Vlaicu metro station. The Barbu Vacarescu / Floreasca area, the fastest growing business district in town. has seen a lot of development in recent years with new A-class buildings, a new shopping center and new infrastructure access facilities. Due to its proximity to the city center and airport, but also to the fast developing and density of commercial banks headquarters (Banca Romaneasca, RBS, Volksbank, Raiffeisen, Bancpost, Italo-Romena Bank), the area has become a preferred business location for many local and international companies - like Oracle, Honeywell, Xerox, to name just a few- and is currently consolidating its market status as a financial and business district of Bucharest. Access: The site can be easily reached both by car and public transportation (tram, bus lines and Aurel Vlaicu metro station in the immediate proximity).

TO LET

Neighbors:

14 € / sqm

Sky Tower Promenada Mall

Service charges

Herastrau Park

3 € / mp + TVA

Details: Class B+ office building 2UG+ GF+ 13 floors Excellent natural light Office floors: the floors have been projected to increase comfort and assure a pleasant and relaxing atmosphere Standard floor plate: 580 sq. m 3 Kone passenger elevators Controlled access PC infrastructure, phone lines HVAC climate system Opening windows Installation for detecting and preventing fire Alarm system Video surveillance Secure controlled building access / 24hr reception and security Uninterrupted power supply Diesel generator Underground and above ground parking places Restaurant on site Impressive reception area

Laura Berezitchei Associate, Office & Commercial Crosspoint Real Estate +40 751.515.155 laura.berezitchei@crosspoint.com.ro

AGENT

Our present rentable area is between 353 sqm and 2.850 sqm.

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Office

S-Park

TO LET Levels: GF+5Floors Rentable area: 34.186 sqm

Facilities/ Services: Flexible office areas 4-pipe HVAC system Automatic fire alarm and smoke exhaust 24-hour security service

S-Park Business Centre conveys a state-of-the-art architecture, redefining one of the best-renowned central areas in Bucharest and enforcing a landmark of power for your business. As a tenant, you will benefit from our entire flexibility in order to provide you with the office space that best suits your companyâ&#x20AC;&#x2122;s business needs. Having S-Park as headquarters, top building quality and exquisite floor design are granted so as to conceive an identity of excellence for your company. Extended varied retail area, including a cafeteria, snack shop, pharmacy, bank branch, wellness center or beauty salon, as well as concierge services are also available amongst the premises, complementing the service package as extra benefits for a pleasant setting.

Raised floors State-of-the-art architecture BMS 600 parking places

Laura Berezitchei

AGENT

Associate, Office & Commercial Crosspoint Real Estate +40 751.515.155 laura.berezitchei@crosspoint.com.ro

S-Park is located in northern Bucharest area, close to Presei Libere Square. Shuttle buses and bus routes provide great public transport, whilst the location is well served by main roads with access to the city center and ring road system. The airport is a ten minute drive away. The building provides 34,186 sqm of rentable area and is organized over eight levels: two underground levels, ground floor and five upper storeys.

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Metroffice

PRE-LEASE Metroffice is realized as the first part of a long-term master plan which involves the redesign of the entire area within IMMOFINANZ’s Iride Business Park into the future Iride City - the modern and comfortable living and working environment which will be created in the coming years. As first development stage, Metroffice opens doors for an innovative quarter, a new, open and vitalized section for the city. Following clients’ needs and their varied profiles, Metroffice is a set off signal for a new concept in the area. The Metroffice office complex covers three buildings with rentable space totalling approx. 40,000 sqm. The first section, to which construction is in progress, will cover six stories with nearly 20,000 sqm. The rentable areas will range up to 3,500 sqm per floor, with a flexible design that allows for individual and open offices. One unique feature of the building is its location: the project is situated in northern Bucharest, with direct connection to the subway and additional public transport by buses and trams. The location also benefits from prime access to city center main roads, ring roads and Henri Coanda International Airport.

Levels: GF + 5Floors sqm

Rentable area: 40,000 sqm

Facilities/Services: Excellent transport connection; Prime amenities (retail, conference possibilities); Flexible design and space arrangements; Sustainable building (LEED Certification planned): Green roof; Bicycles parking; Basement locker rooms; Rainwater storage; Modern technical facilities; Leading developer – Immofinanz Group; 4-pipe HVAC system; Automatic fire alarm and smoke exhaust; 24-hour security service; Raised floors; Operable windows; Ample parking.

Laura Berezitchei

AGENT

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Associate, Office & Commercial Crosspoint Real Estate +40 751.515.155 laura.berezitchei@crosspoint.com.ro

Office

Stefan cel Mare Building Built to suit Development North Area of Bucharest | Availability: Q2 2016 (built to suit possibility) Green Building Accreditation – BREEAM Certification

Levels: 2BS+GF+9Floors sqm

PRE-LEASE

Rentable area: 7.854 sqm Ground floor: Retail (257 sqm) Floor 1-9: offices

88 Indoor Parking Units 70 Outdoor Parking Units

EASY ACCESS: Metro station M1: Piata Victoriei, Stefan cel Mare, Obor, Piata Iancului, Dristor, Timpuri Noi, Piata Unirii, Izvor, Eroilor, Gara de Nord, Basarab. Bus station: 135, 330, 335 Tram station: 1, 5, 46

Architecture: High quality glazed façade for minimum energy consumption Class A office finishes and construction materials 4 high speed and capacity elevators (serving also the basement) Heavy duty carpet, acoustic false ceiling Operable windows Balconies on each floor Raised floor providing flexible fit out 2.8 m free height in office area, allowing optimal natural light High quality equipment and fittings for toilets 88 parking places indoor 70 parking places outdoor Electrical: Efficient lighting automation for minimum consumption Individual control for lighting, for each office or office area Floor box sockets (hard current and data-voice) system Backup power supply generator for emergency systems Separate power meters Free choice of data/telecom provider Food: Decebal La Mama Torna Fratre Li Wu Eat Point Moo Moo Simits (pretzels) Fornetti Patiseria Bunicii Mega Image Shop & Go Mega Image Non Stop Supermarket Hospitals: Regina Maria Emergency Hospital “Floreasca” Matei Bals Colentina

Laura Berezitchei Associate, Office & Commercial Crosspoint Real Estate + 40 751.515.155 laura.berezitchei@crosspoint.com.ro

AGENT

Sport: Dinamo Club: basket ball, polo, rugby, football, tennis, volley ball, athletic sports, box, martial arts, canoeing, cycling, gym, sword play, target firing, women judo, swimming, taekwondo, Greco-Roman wrestling Dancing Studio & Pilates Banks: BCR, BRD, BCR, Piraeus Bank, Raiffeissen Bank, BT Other services in the area: Digi Punct Beauty Salon: New Look, Vegas etc. Travel companies 4 drug stores Kindergarden no. 138 Primary School no. 24

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Office

Ciprian Vlad, ZENONNI SU MISSURA: Time has come to create added value

Pangratti HQ Building for Offices To be delivered: July 2015 New development of office spaces, located Northern Bucharest, next to the National Television and in the immediate proximity of Charles de Gaulle Square, Herastrau Park and Aviatorilor Statue, only a few minutes away from Dorobanti and Victoriei Square, with easy access to public transportation (5 minutes’ walk to Aviatorilor Metro). 774 sqm total usable area, disposed as follows: High Basement: 181 sqm Ground Floor: 213 sqm 1st Floor: 231 sqm 2nd Floor: 148 sqm and 44,2 sqm of terraces

TO LET

“Sometimes it is even hilarious to admit, but the main change we want in Romania is normality”, Vlad says in an interview for Property Invest.

“

As an entrepreneur, after more than 10 years of experience, years that came with large challenges and in a business environment that is still building itself, I have certain expectations regarding predictability, stability and a secure business environment.

16 € / sqm

Laura Berezitchei Associate, Office & Commercial Crosspoint Real Estate +40 751.515.155 laura.berezitchei@crosspoint.com.ro

An entrepreneur and a charming interlocutor, Ciprian Vlad, co-founder and CEO of Zenonni Su Misura considers that as a country we need to apply business principles.

AGENT

I believe in businesses that grow healthy, organically, fed with a lot of work, intelligence, learning and perseverance – which is actually the foundation of a normal economy that I so much wish. Changes? Sometimes it is even hilarious to admit, but the main change is that we wanted normality and we are beginning to discover it both in the business environment and at large, in the entire Romanian society. Times of mediocrity have passed. Now there are times for those who create added value, through work, to arise. I believe in the new class of Romanian entrepreneurs, those who oriented to a life on their own – and the apparition of this class is actually the economic reset and the ground of normal development.

“

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Architect Talks

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Office

GREEN GATE

Eduard Holban Senior Account Manager, Office & Commercial Crosspoint Real Estate 40 747.222.240 AGENT eduard.holban@crosspoint.com.ro

TO LET EXCELLENT FLEXIBILITY Green Gate was built by incorporating the latest specifications and high-end interior design into one flexible space. Tenants requirements can be met to accommodate an open floor environments well as individual office units. Anything is possible. The design of all common and public areas of Green Gate follows one dominant theme – everything matters. Using timeless materials, both traditional and innovative in balanced harmony: massive wood, translucent foil, grass and plants stirring behind, and light intensifying the atmosphere that will reflect, changing with the time of the day and seasons.

LARGE FLOOR WITH SINGLE CORE A typical floor is approximately 2,400 square metres, and as it is organized around a single core, it can also be easily and very efficiently divided into up to 6 separate tenancies. Due to it’s shape and depth, all office spaces benefit from natural light.

The theme is accented in the lobby by the gentle sound of rain trickling against a large glass ceiling above those who enter into the building. The presence of fresh greenery will persist from the main lobby and into the vertical garden, living courtyard, and throughout the common areas. This environment will provide a pleasant complement to the office setting, emphasizing again, that everything matters.

Location & transportation: Located in the immediate proximity of Piata Chirigiu – an important bus and tram hub, Green Gate benefits from “minutes away” access via multiple connections. Also, it can be easily reached by metro: connecting stations in the vicinity are Izvor (M1, M2) and Unirii (M1, M2, M3) and in 10 minutes walking distances, Academia Militara (M5), is currently under construction.

among the tenants: Teamnet, Teaha Consulting, Fujitsu, Mapei unique & contemporary, real A class designed & built in strategic metropolitan location

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Reduced rent & operating costs

Grand Marriott Hotel – 2 min

Exclusive shuttle services for the tenants

Palace of the Parliament - 2 min

Increasing quality of the working environment

Unirii Sq. - 5 min

Optimization of workflows

Izvor Park - 3 min

Increase in employees satisfaction & retention

Polytechnic University - 7 min

More attractiveness to skilled workforce

Botanical Garden - 5 min

Increased efficiency

Liberty Mall - 1 min

Office

BVO Office Building

Surface: 3.535,7 sqm rentable area 300 - 350 sqm/ standard floor Deposit space - 200 sqm (UG) Retail - 954 sqm

District Floreasca Located Northern Bucharest, within the flourishing commercial and residential district Floreasca, facing Barbu Vacarescu Boulevard- main artery connecting the city center to Henri Coanda international airport-, BVO benefits from excellent access and visibility.

Office - 2.181,3 sqm

Levels: 2UG + GF+ 6 floors sqm

Rentable area: 3 535,7 sqm

Occupancy ratio: 100%, 3-10 years contractual period Tenants: Gazprom, Dalkia, Amway, MDM Legal, Sofa

TO LET price upon request

Stylish Villa for Office/ Restaurant

Eduard Holban Senior Account Manager, Office & Commercial Crosspoint Real Estate +40 747.222.240 AGENT eduard.holban@crosspoint.com.ro

Cotroceni area

Villa with a living history, refurbished and brought into contemporary times as to host a restaurant or office space. New and high quality installations (sanitary, electrical, HVAC, thermal). Premium finishes: paneling, massive oak doors and parquet, stucco, wallpaper, chandeliers, marble and monitoring system.

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Office

Office Building/Embassy HQ Building under Development District Dorobanti

PRE-LEASE 20.000 € / month [Rent - entire property, built-to suit, according to most specific tenant needs]

15 € / sqm Rent - standard office

Neighbors: Dorobanti - Capitale residential, diplomatic and business areas, Kiseleff Park, Victoriei and Dorobanti Squares, Herastrau park. Building details: 2BS+HBS+GF+4 Floors Land area: 483 sqm

Proposed destinations: Office Medical Center Diplomatic headquarter

Footprint: 243 sqm

Laura Berezitchei Associate, Office & Commercial Crosspoint Real Estate +40 751.515.155 laura.berezitchei@crosspoint.com.ro

AGENT

Total Net area: 1,741 sqm (1,078 sqm usable area), as follows: 2 BS: 266/296 sqm HBS: 246 sqm GF: 183 sqm 1st Floor: 199 sqm 2nd Floor: 176 sqm 3rd Floor: 138 sqm 4th Floor: 136 sqm

Designed to have: elevator car elevator central heating VRV climate system raised floor alarm 11 underground parking places and storage areas (80 sqm)

Current building stage: under development; built to suit possibility.

Frumoasa 30 Prime Downtown building

TO LET 14 € / sqm sqm

Available area: 300 sqm

finalized in Q4 2010 among the tenants: Asseco SEE, URSUS

high quality equipments & fittings for toilets

Eduard Holban Senior Account Manager, Office & Commercial Crosspoint Real Estate +40 747.222.240 AGENT eduard.holban@crosspoint.com.ro

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up to 2.80 free height, allowing optimal natural light for all flexible partitioning and fit-out possibilities 2 intelligent elevators for minimum waiting time free choice of data/ telecom provider

Office

Investment Opportunities: Armand Business Center CBD (Central Business District)

Eduard Holban

for SALE 7.500.000 â&#x201A;Ź

Levels: 2B+ GF+ 6 floors sqm

Rentable area: 3, 600 sqm

Located within the CBD (Central Business District) - the most wanted spot for business offices -, near Universitate, in between two main subway stations (Universitate and Romana Square) Armand Business Center is easily accessible from all parts of the city, with connections to all mean of urban transportation (car, subway, bus, trolley bus and tramway). Designed and build to comply with the latest BOMA standards, ARMAND Business Center is raising the bar to a new level.

Tenants: Avira, Flash Office, Tellence, Mega Image 100% occupancy ratio

Neighbors: Unirii Square Universitatii Square Dacia Bvd.

Senior Account Manager, Office & Commercial Crosspoint Real Estate +40 747.222.240 AGENT eduard.holban@crosspoint.com.ro

Details: Clear height per floor for offices 2.70m Double height entrance lobby of 6.25 m Raised floors for the offices areas Glazed facades with openable windows Entrance and building design comply with disable access principles Visitor entrances adds to the prestige and quality of the development due to choice of high quality and durable materials 2 elevators for upper floors and the underground parking HVAC 4 pipes system The entire building is equipped with sprinkler system High fire safety standards 33 parking spaces Awards: Nominated for the 2013 Annual Architecture Awards, Social Cultural Section

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Office

Victory Business Center

Details: 2B+GF+7 floors 5.400 sq m rentable surface 6.25 meters double height prestigious entrance lobby 2.7 meters clear height Smoke/heat detectors Sprinklers HVAC 4 pipes Suspended ceiling Raised floors Switchboard Security 2 High-speed lifts Auxiliary power supply Power generator Open able windows 60 Parking spaces

Neighbors: Muncii Square Decebal Av.- with its restaurants,

Tenants: BDO, Portnoi Tudor & Associates

for SALE 8.500.000 â&#x201A;Ź

95% occupancy ratio

cafes, hotel and other retail facilities Victory Business Center is located within the central fast-expanding financial area of Bucharest, near Decebal Boulevard, at the junction of three main arteries, Decebal, Matei Basarab and Calea Calarasilor. The area is excellently served by public transportation - with Piata Muncii metro station located just 7 minutes away from the property-, as well as by facilities and amenities, with numerous restaurants and hotels in vicinity. The access to both airports is straightforward, being reachable in 15-20 minutes depending on day time and traffic.

Eduard Holban Senior Account Manager, Office & Commercial Crosspoint Real Estate +40 747.222.240 eduard.holban@crosspoint.com.ro

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AGENT

a r c h t e i c t t a l k s Property Invest

Architect Talks

Dorin Stefan, DSBA: The future looks smart!

Dorin Stefan is known as one of the most non-conformist and proliferous Romanian architects – actually he is the first Romanian architect whose works were published in the World Architecture Atlas. During time, he addressed various challenges in the field of architecture (such as “Opera Center” Bucharest, 2000; Romanian National Pavilion, AICHI, Japan, 2005 ), urban planning (such as the Urban remodeling in Constanta, Romania, 2001), national contests (such as Revolutiei Square Urban Design, Bucharest, 1996) and international competitions (such as Bucharest 2000 Contest, 1995; Romanian Government Extension, Bucharest, 2006) and art events (such as Triennale de Milano, Italy, 1996. Much positive international attention for Romanian architecture he drawn by winning, together with his team, the first prize at the international “Taiwan Tower Conceptual Competition”– Taichung/ Taiwan.

The future of the countries in the first line may be fascinating The future of architecture is written in various plans: some recently enriched countries, in full ascension, preoccupied of their country image – like China, Korea, the countries in the Arab Gulf will set the pace; other rich countries, like USA, UK, Canada, France will follow the first, but without extravaganza; countries like Romania will have an image that will not be much different than the one from now; that future of the countries in the first line may be fascinating, with a lot of technology encapsulated in an artificial shell, with a lot of artificial intelligence involved in the projection stage - there will be softs dedicated to each project, a soft conceived especially for that project. Bucharest versus the World If we talk in the above-described terms, referring to that fascinating world, Bucharest does not keep the pace; if we refer to the world in which some extravagant people, bored by the Western world, with its streets, borders, hospitals, airports, universities, who dream of a night in the country that turned back in time, then yes, we could say that our architecture is contemporary. A definition of Bucharest Bucharest is interesting. “Interesting” is a word that excuses you from many other epithets. “-How is Bucharest?” “-Interesting.” Bucharest is suffocating, although in South-East European context it could be a regional metropolis to make the difference in the zone. It is held in suffocation by the managerial incompetence and by the operational nostal-

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gia of the civil society. Unfortunately, the words once said by an angry and disappointed Brancusi are still valid today: “I left you stupid and poor, I found you even more stupid and poorer”. A view in the future Smart! Smart – architecture, smart – city, smart – people, smart – telephone. Do we still dream beautifully? The chance of those who have a creative job is to dive into creativity, for their own pleasure, if they have the financial resources – otherwise, requests pretty much resume to malls these days; unfortunately, architects are neither solicited for utilitarian works such as bridges and thus they look so bad. The local landscape is pretty much sad and the dreaming is as such. If you were to invest now for a good yield, in what sector would you invest? I don`t know. I`m not in that situation. I know yet what mistakes I made when I invested money in a summer house, in a too larger car, in a jacuzzi..all these things we use too little to worth the investment. Of course, now I would invest in a main house that represents me, in which I feel good, a house that is like a protective shell in world full of misunderstandings.

Architect Talks

ADNBA:

The Shopping Mall is Becoming a New Street

“

The work of our practice is characterised by our attempt to search for the right balance between experiment and experience in the complex and delicate landscape of contemporary life. While we believe in architecture as a creative gesture, with cultural value and social responsibility, we also acknowledge the sometimes hazardous, and always subjective distinction between such attributes, in a rapidly changing environment as nowadays Romania and the whole of Eastern Europe.

Recent years Bucharest Bucharest seems to have been more and more fragmented, from the architectural point of view, in the recent years, continuing the trend started in the `90s. The lack of some coherent and rigorous urban regulations, on wider areas, continues to allow local, autonomous solutions, too little accorded with the vicinities or the neighborhood. Thus, the public space is suffering, the streets as well as the buildings, refusing in too a too much extent an opening to the city. The transition period also meant an opening to the outskirts and a development of the suburbs, mostly uncontrolled and too little into the benefit of a Bucharest that lacks correct and complete infrastructure equipment. In addition, the crisis brought a decrease of the investment cost for new constructions – which, unfortunately, is strongly reflected in the overall image of the city. All these are consequences that will mark Bucharest on a very long term. The contemporary City The city, in its contemporary meaning, has mostly derived from the communication sciences and it seems to have become extremely complex. The modern communication techniques, the role of mass-media, the commercialization of culture and the loss of the critique dimension of the public space, in the favor of an entertainment culture – they all play an important social role. We thus assist to an enlargement of the term “city”, that is especially becoming “relational”, built on the image of an interaction and adaptation geography. It is not a simple formal project anymore, but an informational mechanism. It no longer represents civic models, but rather “crossed situations”. Bucharest surely has the symptoms of the contemporary world, but mostly in the sense of a public space dominated by the mass-media and the commercial culture. In rest, at the moment it resumes many of the mistakes of the European cities in the `70s - 80`, which these have already corrected or are trying to. Its development seems to be focused on the vehicle flexibility, and the open, public space is exiled once the auto traffic monopolizes the streets, the boulevards, the arteries. The shopping mall is becoming a new street, starting even to replace the leisure functions of the parks.

“

How the architects from ADNBA see the contemporary Bucharest, read below.

Modern world and architecture The global transformations of the recent years reflect several important mutations in architecture. The first one, triggered by the instant spread of the information, is the trend to flatten the difference between places that not long ago seemed to be essentially different. The second visible change is a growing appetite for a playful, sometimes frivolous image of an apparently spectacular architecture, but which can be easily consumed and digested, with a minimum of intellectual effort. Least but not last, the mobility, inevitably involving consumerism and the new values of loisir, determine architecture to resume to a shiny package, interested more of its own autonomy in a world of information and rankings and less to the cultural and social heritage of a place. To a large extent, the public space is moving towards this interior, either we talk about shopping malls, amusement parks, conference centers, airports, hotels or even virtual spaces – to only list those that are shockingly different from the traditional spaces. Architect – Developer relation In such a relation, like in many other cases, good results show up when there is mutual trust. In Romania, developers are still cautious and this comes either from the uncertainty and instability of a young and fragile market, either from convictions that are not always founded towards a certain profile of the end user or client. This way, certain gestures that are actually normal according to the ways of contemporary architecture expression look eccentric, in a local architectural landscape that is certainly poor. But it is not the extravagance that interests us, but more an equilibrium of normality which, in our opinion, can not be reached without an actual according to the means of work and expression of the contemporary world. As far as we are concerned, we surely were lucky to have met people who had the courage to think and make things differently, thus assuming important risks.

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r d n i

e s i e t a l

Investors` appetite came back for certain categories of investments. The new VIP investments are the new residential projects, very well located (near metro stations, parks or shopping malls), with quality finishings and reasonable surfaces.

Residential

Great expectations for high-end residential market

Simona Bazavan

Senior editor at Business Review The top end of the residential segment seems back in expansion mode judging from last year’s data. Two high-end residential projects totaling an investment of about EUR 36 million were announced in November 2014 alone. Overall the number of high-end apartment blocks delivered in Bucharest in 2014 tripled compared to two years ago, according to market representatives, and new projects are expected to start this year. What is fueling the developers’ optimism? While demand for luxury housing has remained relatively constant over recent years, very few projects were delivered in the years following 2008, they point out. Also, many of those completed before this date no longer meet market demands. Despite the fact that the term “luxury” continues to be overused and abused, one thing is clear, developers say – potential buyers are increasingly more informed, selective and demanding. They are looking at more than a project’s location, the quality of the finishes and the carpet area, and considering the living concept behind it all. Developers have also been upgrading their offer. For once, the projects being built today look different from what was available on the market a few years ago and overall the supply is better tailored to current market conditions. There are also more profound changes, such as developers showing a more efficient approach in terms of building and maintenance costs, unlike

the situation before the crisis when the motto was that anything sells, say consultants. All in all, it goes to show that this niche market has grown more mature and the time is right to invest in such properties both from the developers’ and the buyers’ perspective, argue consultants. This is why many developers that already own land in Bucharest in good locations and have a project of above-market quality are now plucking up the courage to invest. Attractive asking prices are also making potential buyers consider the acquisition of a high-end property as an investment. A particularity of the high-end residential segment is that, compared to the overall residential market, it is dominated by rental transactions. Given its other specifics this is understandable, say realtors: the renting process takes less time than the selling process and many buyers acquire such properties to rent them out, as in premium location such as Nordului Road-Herastrau, Kiseleff or Primaverii, a rented apartment generates a yield of about 5 to 7 percent per year. Both demand and the number of actual transactions involving high-end properties are on the rise, developers and consultants agree. Is this enough to suggest a trend? 2015 will have to confirm it. This is an excerpt. Read the full article at www.business-review.eu

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Residential

EXCLUSIVE PENTHOUSE in new residential compound

Kyriakos Kavouras, RAPTIS - KAVOURAS Construction & Development:

NO BUBBLE IN SIGHT, as the downward cycle is just now stabilizing

“

Primaverii Residential Area

Offices and retail spaces are leading the market, followed by agriculture land, and industrial buildings / logistics, with a stable to positive outlook for coming year (small increase in property prices). As far as the residential market is concerned, we notice an adjustment of the developers’ offers, to clients’ potential, with smaller spaces, 2 rooms and 3 rooms apartments. 3 types of clientele are now active on the market: Medium income clients at 700-900 €/ sqm, properties on the peripheral areas; Medium- high income clients at 1.2001.350 €/ sqm, on more central areas; High income clients at 2.000-3.000 €/ sqm, on selected areas in North part of Bucharest, mostly in high architectural small buildings, with quality finishings and updated specifications. We expect a stable market outlook, with small yearly increase on prices ~ 5%.

“

Also, we have NO BUBBLE IN SIGHT, because the downward cycle is just now stabilizing, affected also by the distressed properties’ supply. sqm

Net area: 148 sqm Built area: 338 sqm Rooms: 4

for SALE 609.000 € + TVA

Bathrooms: 4 Terraces: 3 P

Parking lots: 2

Puskin 11 is one of the newest residential compounds in Northern Bucharest, located in Primaverii area. It offers a limited number of apartments, in a quiet and intimate building, though with quick access to the main arteries in Northern Bucharest. The penthouse, disposed on the last 3 levels of the building, benefits of direct access of the elevator into the apartment and of a wide terrace with a unique view in Bucharest.

2014 GDP growth ~ 2,8% 2015 GDP forecast ~ 2,6% Unemployment rate ~ 5% Inflation rate ~ 1% RON/ EURO exchange rate stable : 4,4 - 4,5 Mortgage interest rate in RON ~ 5% Retail sales ~ 7% Industrial production positive

ANAMARIA MUNTEANU Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro

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Public debt and Budget deficit remaining under control, with expectation of State spending increase. AGENT

FDI outlook positive

Residential

A HOUSE WITH A

CENTURY OF MEMORIES

for SALE 2.200.000 â&#x201A;Ź

The villa is a typical house of the late 19th - early 20th century in Bucharest, on a street located in a protected area, with eclectic architecture, combining decorations in Neoclassical and neo - Romanian styles with oriental elements. The building is ranked as a national monument with the number of B-IImB.18246. Currently, the house has the following functions and utilities: the basement unfolds a cellar built of pine wood, a bar and a dining room (fully equipped bar), a library, a cigar room. The ground floor consists of four individual rooms, currently serving as individual offices and a monumental reception hall. As per transforming the house into residence, these rooms can be converted into bedrooms. The attic is in the form of an open space area of 150 sq m, used as an office space.

ANAMARIA MUNTEANU Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro

sqm

Net area: 400 sqm Yard: 200 sqm

AGENT

Rooms: 8 Kitchen: 1 Bathrooms: 3 Terraces: 1 P

Parking lots: 2 exquisite central area, with living history monument building eclectic architecture

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Residential

Brand New Residential Compound

Baneasa Forest

Invest in Gold, Capital Markets or in Real Estate? Art and Real Estate are the new Gold, as Blackrock CEO states

Alexandru Boff Associate, Residential Crosspoint Real Estate

PRICES STARTING AT 77.300 € / UNIT Parking lots are included in the sale price Amenities: This new residential compound in Northern Bucharest, of only 9 apartments, benefits from high - end finishes and finest attention to details. The project stands out through carefully designed space configuration, with generous areas for each housing area and terraces offering gorgeous views over the area.

elevator Schindler (accessible from parking) filtered water supply individual central heating systems (Buderus) thermostat temperature control in each room air conditioning (living room & bedrooms) wide terraces finished with floating floors Marazi ceramic glass balustrades led lighting systems (common spaces)

AVAILABLE UNITS: penthouse (334 sqm, 4 rooms) 4 room apartments (151 sqm to 277 sqm) 3 room apartments (151 sqm to 194 sqm) 2 room apartments (91 sqm)

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We found the best answer in the below statements of Laurence D. Fink, CEO of BlackRock - the world’s largest asset manager. International specialists say that at the moment, gold is being replaced as a store of wealth by a new breed of investments. According to BlackRock CEO Laurence D. Fink, art and real estate are outshining gold as a means of securing today’s fortunes. “Historically, gold was a great instrument for storing of wealth,” the chairman of BlackRock said mid April at a Credit Suisse conference in Singapore. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.” Fink said that as gold became more widely owned through ETFs and other financial instruments, it has become less attractive. The price of gold is down by more than a third from its recent peak in 2011.

Camelia Bracea Account Manager Crosspoint Real Estate +40 747.021.992 camelia.bracea@crosspoint.com.ro

As real estate brokers, we often happen to be asked by investors which is the most profitable sector to place cash: is it the Swiss banks? is it real estate? is it gold, capital markets, art, et cetera?

AGENT

Art and real estate have become better stores of value, Fink said. Fink’s comments were reported by Bloomberg, and confirmed by BlackRock. The markets for art and real estate are far less liquid than gold.

Residential

STUNNING VILLA Corbeanca/Otopeni

PROMO PRICE 650.000 â&#x201A;Ź

sqm

Net area: 440 sqm Built area: 840 sqm Land: 2.000 sqm Rooms: 7 Bathrooms: 5 Terraces: 5

Alexandru Boff Associate, Residential Crosspoint Real Estate +40 747.122.021 alexandru.boff@crosspoint.com.ro

AGENT

Just 10 min./ 25 km away from Bucharest city center, this amazing 2.000 sq. m. property is an oasis of relaxation & beauty, near Corbeanca village - an area that is highly preferred for its green landscapes. While benefitting from its own spa & leisure facilities, including covered pool & fitness zone, a wet and a dry sauna, the villa is disposed on 4 levels: basement, ground floor and 2 upper floors. It has a total built surface of 600 sqm and a 440 sqm net area plus 240sqm terraces. It is foreseen with spacious terraces, easy access to garage, as well as a friendly garden design.

Exquisite Property sqm

Close to Cismigiu Park

for SALE PRICE UPON REQUEST

Net area: 400 sqm Built area: 454 sqm Land: 645 sqm Rooms: 14 Bathrooms: 5 This Villa is very convenient located in Bucharest city center, close to Cismigiu Park. It is positioned on a 645 sqm plot, with 21 m opening and a generous interior space. Best use for company office or residential.

Catalin Gavrila Account Manager Crosspoint Real Estate catalin.gavrila@crosspoint.com.ro +40 747 122 021

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Residential

“PASSIVE HOUSE”

Concept Property Baneasa forest sqm

Net area: 185 sqm

Built area: 306 sqm

Land: 640 sqm

The “Passive House” concept means both a standard energy performance of the building as well as a set of design principles and construction used to achieve this standard: passive buildings consume 80% less energy than the regular buildings.

Camelia Bracea Account Manager Crosspoint Real Estate +40 747.021.992 camelia.bracea@crosspoint.com.ro Rooms: 5 Bathrooms: 3 Terraces: 1 P

Parking lots: 2

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EXCELENT PRICE 248.000 €

Luana Ibacka:

A “5 stars home” always reflects the harmony and positives energies of the owner A journalist, a TV presenter and advisor, a communicator…but most of all, a home & design passionate. Luana Ibacka, known in the recent years for her “5 Stars Home” TV show, didn`t give up our attempt to get from her a practical description of the luxury home. It`s from the inside of the individual, she says about the idea of exquisite. How did the living space evolved as to adapt the lifestyle of the contemporary individual? I believe that the adaptations will only start from now on. Let`s not forget what “generous” villas Romanians have built on loans. Only now Romanians are waking up to adapt their real needs. Starting with the `90, Romanians have kept building “showroom” houses, with living rooms that could accommodate two parking spaces. Now, most of these houses are for sale - for the maintenance costs are too high. I believe that the adaptation is a harmonization of the owner`s needs – for resting space, entertainment - with the financial possibilities. From the hi-tech addictions` perspectives, adaptation may mean a common, neutral space, in which one can continuously change his favorite gadgets.

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We are living in an amazing diversity, so everybody`s point of contact should remain the moral values, family and passions. The nest is created around these values. How do you define “real estate luxury”? How does a “5 stars home” look like? Luxury is pretty much the same in all domains. It never disappears. It IS. In real estate, there are people who are good at it and people who only do the selling. The finality is always happy, as every home only needs one owner, and that One eventually appears, sooner or later. I would compare a 5 stars home with a 5 stars hotel: it should offer satisfaction in all the important aspects regarding comfort and aesthetics.

Residential

Chiqueâ&#x20AC;&#x201C;Urbanesque Villa Rosetti area

for SALE 650.000 â&#x201A;Ź sqm

Net area: 328 sqm Built area: 438 sqm Land: 160 sqm Rooms: 9 Bathrooms: 4 Balconies: 2

Parking lots: 1

This property, recently renovated, is disposed on Bs + GF + 1F + At and has a net area of 328 sqm. It is divided into 9 bright rooms with large areas and generous height regime, a kitchen and 4 bathrooms. It benefits from central heating, air conditioning, solid wood parquet and two entrances.

Oana Mihailescu

The basement accommodates one parking lot (garage), while another parking lot is available outdoors. AGENT

Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

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Residential

PERFECT FOR EXPAT FAMILY: 5 room Luxury Villa - Iancu Nicolae area TO LET 4.000 â&#x201A;Ź / month + VAT sqm

Net area: 365 sqm Built area: 574 sqm Courtyard: 143 sqm Terraces: 106 sqm Rooms: 5 Bathrooms: 5 P

Unique Design

Parking lots: 2

Architecture Features

Located in Iancu Nicolae area, close to the Jolie Ville Mall, this mini complex is composed of 5 buildings, each with a private garden. The compound benefits from permanent guard and administration services. The villas display on high semi-basement, ground floor, 1 floor and the terrace on top of the building.

High semi-basement: storage area, technical room, laundry area, bath room and technical areas. Ground floor: living room with dining area, kitchen and 1 bedroom. 1st Floor: night area - 3 bedrooms, each with en-suite bathroom and dressing areas; this level offers the access to the terrace above the building. Architect & Project Manager: Fabrica de Arhitectura [Architect: Daniel Popescu]

This property stands out through a special design and exclusive finishes and elements : TOSSB or WEVER & DUCRE light fixtures AXO LIGHT (Karim Rashid signed luminaire) All sanitary ware & ceramics come from the famous brand Porcelanosa The main entrance door is made of wood and stone from OIKOS DOORS, the kitchen door with hidden frame made by FILOMURO is entirely covered in stone, as well as the wall of the living room The entire living area and the bathrooms are equipped with floor heating system

Solid wood flooring of oak, the garden landscaping done so as to benefit from green plants all year round, the laundry chute, the hidden air-conditioning system Mitsubishi are distinguishing features for this property. The complex is served by a spa area with swimming pool, sauna and jacuzzi, changing rooms and dehumidification system.

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ANAMARIA MUNTEANU Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro

AGENT

Residential

Adrian Arendt, DSBA: Keep Calm & Love Bucharest

Adrian Arendt, Design Director at “Dorin Stefan Architecture Office” (DSBA), shares several of his most intimate thoughts and dreams about Bucharest, space quality and urban design.

“

It is difficult to establish qualities and imperfections of a city that is as heterogenuous as Bucharest. It almost depends on my state of mind. I believe that in a great extent the Old City area (as much as it`s left of it) has a particular pleasant character, it is encapsulating a story, with a large potential; I am not only talking about the cafes, the bars and the clubs but – beyond the advanced degradation status of many of the buildings – the streets themselves are extremely bohemian. Of course, massive investments are necessary in the area – and not only for facade painting every two years or for interior refurbishment of some cafe, when many of the buildings` balconies are almost disintegrating. Today` Bucharest is marked by a biting fight between the occupation of free spaces, chaotic constructions that are often illegal, a vague and incomplete legislation. Yet I notice a reason of joy: more and more experimenting, new materials used in constructions, new technologies - the results are beginning to be not so predictable. The public space still lacks a certain charm, it almost completely lacks its conceptual side. It is only utilitarian and often absurd, including the important areas like the main squares (Romana, Victoriei, Unirii) and many of the urban landmarks can only be recognized by their size, but not by any architectural quality. The constructions only solve the issue of their own lot - little are the cases in which the financial, beaurocratic or legal framework allows a larger approach on the area. In the best case scenario, developers generally resume to building a particular interesting edifice, without bringing any contribution to the surrourding urban space.

“

Marvelous Villa Excellent for Embassy HQ destination TO LET

Aviatorilor area

15.000 €/month sqm

Net area: 765 sqm Built area: 900 sqm

This property is located on a bohemian street in Dorobanti Capitale – Aviatorilor area, one of the most beautiful residential and diplomatic areas of Bucharest.

Entrances: 3 Courtyard: 590 sqm Rooms: 13 Kitchens: 3 Bathrooms: 3

With a history dating from 1946, the villa was completely refurbished and brought to the contemporary efficiency and comfort standards – massive wood, high walls, crystal - windowed doors. Layout: Bs + GF + 1F + At. The property benefits of a generous courtyard, lovely landscaped and of an annex building (GF + 1F) of 85 sqm.

Half-bathrooms: 4 Terraces: 1

The property is ideal for an embassy headquarter, consultancy (law, finance, advertising) or architect`s office.

Balconies: 2 Storage spaces: 2

Oana Mihailescu Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

AGENT

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Residential

Best Address in Bucharest Luxury Penthouse in exclusive residential compound

for SALE 967.000 â&#x201A;Ź + TVA 2 underground parking spaces and a storage room are included in the price

sqm

Net area: 218 sqm Built area: 257 sqm 3 Terraces: 98.6 sqm Rooms: 5 Bathrooms: 3 P

Parking lots: 2

This wonderful penthouse is part of an exclusive residential compound, located in one of the best areas of Bucharest - very close to Victoriei Square, Kiseleff Park and Dorobanti Square. Victoriei Subway station is only a few minutes away. The fireplace, the elegant design of the furniture, the state - of the - art finishes and the luxury equipped bathrooms and kitchen recommend this property as a perfect option for an exquisite private residence.

ANAMARIA MUNTEANU The residential compound features premium facilities, specific to a contemporary lifestyle: reception for visitors, 24/7 security, a small private park, children playground and a fitness club. AGENT

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Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro

Residential

4 bedroom Penthouse with generous terrace Aviatiei

for SALE 475.000 â&#x201A;Ź

sqm

Net area: 292 sqm Built area: 485 sqm Rooms: 5 Bathrooms: 4 Terraces: 5 P

Garages: 2

This property is located in one of the best positions in Bucharest â&#x20AC;&#x201C; it can generate a monthly rent fee of EUR 2.500.

The building is part of a luxury compound, in the close proximity of Bordei and Herastrau Parks. The penthouse is disposed at the 8th and the 9th floors of the building, plus a terrace. The 8th floor accommodates 4 bedrooms. Two of them have their own bathroom and dressing, and the other two benefit from large storage spaces, with a common bathroom. This level also accommodates two intimate balconies/terraces. The living and the kitchen are on the 9th floor. The living has access to the impressive 144 sqm terrace, with a beautiful city view. The property is sold completely furnished, with 2 underground parking lots.

Alexandru Boff Associate Residential Crosspoint Real Estate alexandru.boff@crosspoint.com.ro

AGENT

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Residential

3 Room dazzling Apartment Aviatorilor Area

TO LET 4.000 â&#x201A;Ź / month

sqm

Net area: 130 sqm Built area: 150 sqm Terrace: 73 sqm Rooms: 3 Bathrooms: 3 P

Wonderfully spacious unfurnished apartment, characterized by luxury and elegant design in perfect harmony with its surroundings, located in the most emblematic and exclusive area of Bucharest. Reinforced concrete structural system, ventilated facade, natural stone on aluminium structure, free height level 2.75 m, smart building system BMS, convector heating system, integrated HVAC system, 3- layered glass windows are only a few of the building characteristics.

Parking lots: 1

ANAMARIA MUNTEANU Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro

AGENT

With exquisite design, highest end materials and finishing, fully-equipped kitchen (Bulthaup furniture) and bathrooms, spacious bedrooms, electric curtain and blind systems, cabinets and wardrobes (Interlubke), Nussbaum doors and oak parquet (Silverline edition), this dazzling apartment boasts a privileged location, creating an open and welcoming living space.

The Premium Estate Magazine

Residential

3 bedroom Apartment in exquisite residential compound Primaverii

for SALE 646.000 € + VAT sqm

Net area: 190 sqm

Rooms: 4

Built area: 279 sqm

Bathrooms: 3

Terraces: 1 P

Garages: 2

This apartment is located in the most beautiful and famous residential area of Bucharest - Primaverii, near two parks, various cafes and fine dining restaurants. The building was completed in 2011, at the highest standards of interior design and finishes. The modern architecture and the refined interior design details are complemented by a generous interior space, beautiful wooden terraces and by the synergy of predominant elements: wood, glass, marble and metal - designed by the famous Spanish Bueso Enchausti architecture office.

Oana Mihailescu Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

AGENT

3 bedroom Apartment with direct view to Herastrau Park for SALE 575.000 € sqm

Net area: 164 sqm

Rooms: 4

Built area: 250 sqm

Bathrooms: 4 Terraces: 1

This stylish building, developed in 2005, is located right next to the Herastrau Park, with quick access to the fitness clubs, international kinder-gardens and restaurants in the Northern area of Bucharest. This property is located in one of the best positions in Bucharest – it can generate a monthly rent fee of EUR 2.500.

Alexandru Boff Associate, Residential Crosspoint Real Estate +40 747.122.021 alexandru.boff@crosspoint.com.ro

AGENT

Property Invest

Residential

Lovely 2 bedroom Apartment

Homefinders.ro analysis:

Alexandru Boff Associate, Residential Crosspoint Real Estate +40 747.122.021 alexandru.boff@crosspoint.com.ro

Prices tend to stabilize in Residential AGENT

for SALE 265.000 € sqm

Net area: 100 sqm

Rooms: 3

Bathrooms: 2

Built area: 130 sqm

Kitchens: 1

Balconies: 1

Medium prices on the Central and Northern area of Bucharest tend to stabilize, according to a Homefinders.ro analysis, the same level of prices being registered in the first months of the year. The volume of offers available on the market is also stable - the total number of offers for sale registered in April, in all Bucharest areas, was of approx. 3.100 units.

This apartment is located at the 2nd floor of an exquisite new residential building, delivered in 2009, only comprising 6 floors. The apartment benefits from splendid view (from all windows) to Herastrau Park and it is sold completely furnished and equipped.

“

We overcame the period in which buyers were only looking at the periphery of the City – now we see more and more investments and demand in the Central and Northern areas.

“

Homefinders.ro The Premium Estate Magazine

Residential

4 room Apartment with unique vicinity Dorobanti area – luxury residential compound

for SALE 750.000 € + VAT sqm

Net area: 157 sqm

Rooms: 4

Built area: 215 sqm

Bathrooms: 3

(with terrace)

Parking lots: 2

This exquisite apartment is located in a gated residential complex with administration services, fitness room and underground garage.

The apartment is located on the 2nd floor, with a view to the interior garden. The unit has been completely refurbished, in the modern manner post ARTDECO, using special materials and finishings: interior cherry wood Garofolli doors, massif cherry wood parquet flooring, stucco Venezziano modern painting, Thassos white marble (bathrooms), Nero Absoluto granite, Sicis mosaic, Duravit sanitary ware, Hans Grohe accessories. The day area was re-partitioned by opening the kitchen towards the living- room space. The whole lighting system is exclusive, from prestigious companies. The kitchen is fully equipped in Rovere Moro finish.

ANAMARIA MUNTEANU Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro

AGENT

The apartment has automatic operated blinds and curtains of silk and wool, curtains in the living area, electronically operated. The BMS (Building Management System) Lutron + Crestron used in living area, allows an optimization of the consumption of utilities. The dressing area is functionally furnished with Poliform furniture. This unit is for sale completely furnished and equipped, with 2 underground parking lots.

George Slic, SSAB: Urban minimalism, trendsetters` favorite style

“

As we could see at the Milan Design Salon, urban minimalism continues to be the favorite style of the trendsetters: clear lines, sober chromatics (white, black shades of grey), industrially-inspired materials like cement, metal, wood that is processed to have a modern look and products that, under minimalistic design, encapsulate sophisticated technologies. Another style still in trends is the Victorian style, for those who wish a home with a classic, warmer atmosphere. This style is characterized through the passion of the old British Empire and through a larger color palette, in which pastel colors combinations are preferred. Both styles suggest the idea of a large, open space in which for example the bathroom and the bedroom become a single room, with freestanding or inter-connected products; both styles focus on more personalization, with hand-crafted products, customized furniture, made of innovative materials or decors of mosaic especially created for the beneficiary.

“

Property Invest

Residential

NEW EXQUISITE RESIDENTIAL COMPOUND

The Real Estate Book of Good Manners Prepare your property for photo shooting/viewings.

Dorobanti Area PRE-BOOKING: SPECIAL PRICING UPON REQUEST

for SALE

Prepare/agree a schedule of visits with the agent and , as much as possible, try to be available and flexible on the schedule.

Don’t talk about possible commissions owed to the agent in front of the client.

Don’t try to negotiate directly with the client.

If you list the property in several agencies, give the same listing price or , at least, inform the agent on different listings.

Please answer the phone or, at least, call back. Agents do not call only for courtesy. They also call for putting out offers for your property.

ANAMARIA MUNTEANU Senior Account Manager Crosspoint Real Estate +40 740.083.396 anamaria.munteanu@crosspoint.com.ro Floor

Rooms

GF+ 1 GF 1 2 2 3 + 4 + Terrace 3 + 4 + Terrace

6 4 4 4 3 5 5

Apartment built area (sqm) 268,2 129,3 161,7 128,8 122,5 231,7 233,1

Balcony net area (sqm) 148,3 75,8 12,8 28,2 20,3 20,5 12,4

AGENT

Total net area (sqm) 416,5 205,1 174,5 157 142,8 252,2 245,5

This exclusive residential development is to be delivered in 2016 and it only comprises 7 living units. The extraordinary apartments are designed to combine the modern living lifestyle with the amenities and historical air of the neighborhood. These stunning apartments figure large surfaces and impressive terraces, maximizing light and space, rising above the residential area of Dorobanti.

Your emotional investment in the property that you want to sale/rent out cannot be quantified and will not be paid for by the buyer. Try to remember why you bought that real estate ( what impressed you the most) and use it as a differentiator or sale argument to sell/rent faster. But don’t expect to get some money for the beautiful moments you spent in that real estate.

When presented with an offer, be aware of the amount of time you are given to accept it. If you need more time, request it in writing. No one owes you more than what is agreed to in the contract.

Everyone needs a certain amount of personal space. For anything that isn’t urgent, jot down your thoughts and ask your agent when would be the best time to call. Remember that your agent has to make a living, so he probably has other clients who need his attention. Respect that.

Anamaria Munteanu Senior Account Manager Crosspoint Real Estate

The Premium Estate Magazine

Residential

Apartments on the Beach North Mamaia (Constanta)

Oana Mihailescu Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

AGENT

for SALE 890 â&#x201A;Ź/sqm (VAT included)

At less than 100 m from the Black Sea shore, located in one of the most luxurious areas of Mamaia resort, these apartments are built to offer the ultimate standards of comfort and relaxation.

Last 11 apartments left for sale: Building

Floor

Apartament no.

Net area

126,75

135,30

151,50

147,04

126,75

147,04

130,70

148,00

Property Invest

Residential

EXQUISITE PENTHOUSE WITH SEA VIEW Caelia Residence (Mamaia, Constanta)

for SALE 650.000 â&#x201A;Ź

Can you feel the breeze? sqm

Net area: 201 sqm

Rooms: 4

Sea view terrace: 37 sqm

Bathrooms: 4

Parking lots: 2 Air conditioning Heating system

This 200 sqm penthouse is one of the best investment options on the Romanian seaside. Located in the most luxurious residential compounds in North Mamaia, this apartment is right in the vicinity of prodigious REX Hotel and it is fully equipped with luxury furniture. Apartments owners benefit from free facilities such as 24/7 security, reception, SPA center, wet and dry sauna, pool, private beach.

Oana Mihailescu Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

The Premium Estate Magazine

AGENT

INTERNATIONAL

p r p e o e r t y INVESTMENT 45

Property Invest

A World Wide State of Mind: INTERNATIONAL PROPERTY INVESTMENT

Codrin Matei (Crosspoint) Appointed in the International Advisory Board of Leading Real Estate Companies of the World At a time when the common speech includes the “being global” slogan, Leading Real Estate Companies of the World truly lives it – having built a powerful international presence long before being global was in fashion. At Leading Real Estate Companies of the World (LeadingRE), it`s not just about having it in their name – it`s about connecting market – leading real estate firms and sharing business opportunities through an approach that is world – wise and globally aware. With a reach that extends to 52 countries with over 500 companies, LeadingRE is home to several of the world`s premier independent real estate brokerages, providing the business resources and global connections of a franchise while allowing its members to build their own brands rather than someone else`s. As of March 2015, Codrin Matei, managing partner, Crosspoint Investment Banking & Real Estate was appointed member of the International Advisory Board of Leading Real Estate Companies of the World (LeadingRE). LeadingRE’s International Advisory Board, comprised of non-U.S. members, is committed to expanding the value proposition of the company’s international membership programs. “Codrin will be a great addition to the International Advisory Board and will surely help us build forward the incredible success LeadingRE is having internationally”, stated Ron Stader, Chairman of the International Advisory Board and Vice Chairman of the real estate company CIR REALTY from Canada. Exclusively represented in Romania by Crosspoint, Leading Real Estate Companies of the World is a prestigious worldwide network that includes over 500 real estate companies with almost 3,500 offices and 120,000 associates. Network affiliates produced over one million transactions valued at $314 billion in home sales in 2013.

Codrin Matei Managing Partner Crosspoint Investment Banking & Real Estate

LeadingRE International Advisory Board Members:

SWITZERLAND

Ginesta Immobilien

HONG KONG

Asia Pacific Properties

SPAIN

Inmobiliaria Rimontgo Javea

CANADA

CIR Realty

ITALY

Cofim Immobiliare Giorgio Vigano Real Estate

JAPAN

H&R Consultants

FRANCE

Conseil Immobilier

PANAMA

Siuma Realy

BAHAMAS

Bahamas Realty

ROMANIA

Crosspoint Investment Banking & Real Estate

The Premium Estate Magazine

Crosspoint is the single company in Southeast Europe represented in the Int`l Advisory Board of LeadingRE.

3-Storey Penthouse Townhouse in the Sky Broadway, New York for SALE price upon request Perched atop one of the most prime Lincoln Center modern condominium buildings, this stunning apartment features unparalleled 360 degree views of Manhattan and beyond.

sqm

AGENT

Pprox. square ft: 8,100 sf

Period: Post-War

Property type: Condominium

Built: 1997

Type: Triplex

Building Type: Hirise

Oana Mihailescu

Rooms: 16

Sublet Approval: Required

Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

Bedrooms: 8

Doorman

Bathrooms: 9

Concierge

Pied-Ă -terre: Allowed

Laundry Pets allowed

This one-of-a-kind, contemporary 3-story penthouse with three entrances - one on each of the buildingâ&#x20AC;&#x2122;s penthouse levels - contains 16 rooms, totaling an impressive 10,100 square feet (8,100 interior and 2,000 exterior square feet). The 7-8 bedrooms contain nine full bathrooms, plus a powder room, and there are two kitchens. A peaceful retreat, the master bedroom suite has dazzling views and appointments, a generous walk-in closet and a large master bathroom which uses over 25 slabs of onyx with his/her sides, a huge two person all-glass enclosed shower with great northern views. To enhance this property the two massive, landscaped and irrigated terraces designed by Thomas Balsley Associates together provide extraordinary outdoor living with views North, South, East & West, large entertaining space, a unique, one-of-a-kind elevated planter system and immense electronic sliding doors one of which was brought up 33 stories to the home via crane.

ovens, two refrigerators, three sinks, and three dishwashers. The large dining room with a double-sided fireplace is perfect for entertaining intimate parties or grand scale events. It features a paneled, exotic wood ceiling, floor to ceiling frameless glass panels overlooking one of the terraces and has Southern views over Lincoln Center and the Freedom Tower. The breakfast room has direct access to one of the terraces providing north and west views overlooking the Hudson River and the Central Park reservoir and has a further two refrigerators and large wine cooler and second built in coffee machine. A long hallway with art walls and specially designed art lighting directs attention to the custom bronze, fibre-optic ceiling and diamond-patterned wood floor.

Only the finest materials and custom design elements were used. Notable features: distressed, pillowed-edge American Walnut flooring, custom, hand-made solid wood The estate atmosphere provides panoramic views from an immense grand room of doors, a free floating steel and ebony staircase, stone slab bathrooms, Crestron over 1,500 square feet containing two sitting areas, over 65 feet of floor to ceiling and Lutron systems throughout with a 16-zone security camera system, electronic windows, a free-floating, four-sided bronze and glass fireplace, stone and wood shades, radiant heat and central HVAC with a built in HEPA filtration system with 18 bar, and drop down movie screen with hidden speakers and black-out shades. In separate zones and a central humidity system.This full-service building has a 24-7 the bronze and wood paneled study with park views, there is a unique cantilevered doorman, concierge, security staff, live-in resident manager, in-house maintenance free-floating double stone desk with pop-up computer screens, and custom bookshelves and cabinetry and custom bronze art lights. A particularly unique advancement and repair team totaling over 25 full-time staff members who collectively provide the ultimate in luxury services for their residents. The building is conveniently located is the large TV on a custom lift that recesses into the paneled ceiling and also pivots next to Lincoln Center and the Apple Store, across from the Reebok gym and is a when in the down position to allow for different viewing angles from different parts of very short walk to Riverside Park and Central Park, mid-town Manhattan and all the the room. The massive main kitchen designed by Boffi utilizes stainless steel, Corian famous food stores and retail destinations along the Upper West Side. (including on the walls) and slab stone construction with double stoves and double

Property Invest

A World Wide State of Mind: INTERNATIONAL PROPERTY INVESTMENT

Penthouse Condominium in the Sky

sqm

Approx. area: 3,041 sf

Manhattan Upper West, New York Impressive private full-floor penthouse perched in the sky with four to five bedrooms, four bathrooms, outdoor spaces, and a wood-burning fireplace. Stunning open views from all four exposures, this home is pin-drop-quiet and has 9-foot ceilings. The open-plan chefâ&#x20AC;&#x2122;s kitchen has granite counters and solid lacquer cabinets with abundant storage. Top-of-the line appliances include a Garland range; Subzero refrigerator; Bosch dishwasher; and 36-bottle wine fridge. There are California closets throughout and a dedicated laundry area with full-size side-by-side washer and dryer. The master bedroom oasis contains an en-suite, five-fixture bath.

for SALE

Property type: Condominium

7.750.000 $

Type: Simplex Rooms: 8 Bedrooms: 4

Central Air

Bathrooms: 4

Concierge

Staff rooms:1

Fitness Room

Built: 1998

Pets Allowed

The Westbury House is a boutique condominium with an exceptionally high level of service. Amenities include a gym, outdoor play area, suitcase & bike storage. Pets welcome! This location can not be surpassed: close to best shopping, all major public transportation, and both Central Park and Riverside Park.

Oana Mihailescu

AGENT

The Premium Estate Magazine

Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

A World Wide State of Mind: INTERNATIONAL PROPERTY INVESTMENT

Dramatic Doorman Condo Loft Chelsea, Manhattan, New York sqm

Approx. square ft: 3,600 sf Property type: Loft Rooms: 6 Bedrooms: 3 Bathrooms: 3 Built: 1920 Doorman Concierge Pets Allowed

for SALE 5.950.000 $ This magnificent 3,600SF prewar loft is located at the historic YMCA Building and offers grand-scaled rooms, soaring ceiling heights, and a sprawling 3BR layout affording maximum comfort and pin-drop quiet privacy throughout! A marble entrance foyer leads to a ballroom-sized Living/Dining room bathed in natural sunlight with 12-foot ceilings, exposed brick walls, gorgeous oak flooring, and sliding doors that open onto a charming Juliette balcony offering picture-postcard views of the historic Chelsea Hotel.

Oana Mihailescu

AGENT

Senior Account Manager Crosspoint Real Estate +40 747.211.135 oana.mihailescu@crosspoint.com.ro

The enormous state-of-the-art chefâ&#x20AC;&#x2122;s kitchen with center-island is open to the entertaining space and offers deep granite countertops, endless custom cabinetry and top-of-the-line Viking appliances including a 6-Burner professional range vented to the outside, and a temperature-controlled wine refrigerator. At opposite ends of the Living room, pocket doors slide open to reveal 2 enormous Bedrooms (one currently divided into an office and nursery), and two renovated bathrooms. Nearby, a hallway leads to the palatial Master Bedroom Suite - a loft unto itself with a large separate vanity area, fully fitted Dressing room, and a fabulous spa-quality bathroom with double sinks, separate W/C with bidet, radiant heated floors, and an enormous glass-enclosed steam shower room with bench. The entire loft is centrally air-conditioned, offers custom lighting on dimmers throughout, and a whole house audio system with in-ceiling speakers and keypads in all major rooms. Additional amenities include a separate laundry room, pantry, and incredible storage space throughout. All this in a boutique doorman condominium located right in the heart of Downtownâ&#x20AC;&#x2122;s most vibrant neighborhood with great restaurants, shopping, schools, and all major transportation right at your doorstep!

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