The Verdi Park luxury building in Bucharest, which is in bankruptcy, will be auctioned at a starting price of €4m. The money is intended to cover part of the €5m debt that Alpha Bank is intent on recovering from the developer.
Verdi Park, developed by Meridian Land is located in District 2, between Verdi Park and Floreasca Lake. The building has 5 floors and comprises 11 apartments. The smallest of the 11 apartments is 92 sqm and in 2010 their sale price was between €285,000 and €1.6m. The auction will be held on September 10.
Meridian Land Company, owned by Emil Oprea, went bankrupt late last year.
