Realis WAM is transforming a former seven-story office building on Maros utca in Buda into an 80-unit premium residential project, adding new housing supply to one of Budapest’s tighter central submarkets.
The company acquired the property from CPI in 2024 and plans to launch sales in October under the name The Brick. Completion is scheduled for the second quarter of 2028.
The Brick will offer homes ranging from studios to larger units with up to four bedrooms and a living room, while the upper floors will provide panoramic views toward Castle Hill, Gellért Hill and Sváb Hill.
Office-to-residential conversion with limited demolition
The property was originally built after Hungary’s political transition and, according to the developer, its existing structure makes it particularly suitable for residential conversion, highlighting generous ceiling heights, efficient floor plan, façade structure and two-level underground garage as key advantages.
Its current technical condition is also expected to allow construction to proceed with relatively limited demolition. The existing inner courtyard is planned to be transformed into a landscaped garden with trees.
Sales launch planned for October
Sales at The Brick are due to begin in October. The residential mix will range from smaller studio units to larger family apartments, with Realis WAM positioning the project in the premium segment.
The developer also said the interior concept will follow what it describes as a distinctive cosmopolitan design approach intended to differentiate the project from other new-build schemes in Budapest.
Realis WAM manages private and institutional capital
Realis WAM operates as the fund management arm of the Realis Group, with its managed assets sourced 45% from private investors and 55% from institutional investors. Development activities for the fund are carried out by Realis Development.
