About Andrássy 12

Andrássy 12

Andrássy 12

Office building Andrássy 12 (Krausz Palace) is located in the heart of Budapest, in the area bordered by Andrássy Avenue (part of the World Heritage), Révay utca and Dobó utca, at No. 12 Andrássy Avenue. It was built in 1884 based on the plans by architect Zsigmond Quittner, and was ornamented by the masterpieces of the famous creators of the end of the century. The palace renovated meeting art history standards in 2001 by Tercon, a subsidiary of IVG, presently offers a modern office space of 5,638 m2 on a ground floor + 4 storeys.



The listed building is a corner house with three facades, two entrances and two staircases, built in Neo-Renaissance style. The ground floor entrance lobby accommodates frescos by Károly Lotz. In the cortile currently covered by a glass roof up to the first storey a bronze fountain sculpture titled ‘Incselkedők’, the work of Gyula Donáth can be seen, and the exterior groups of figures of the facade embodying fidelity, love, wealth, peace and work are also the works of the master. The ornamental sculptural works were made by the well-known building sculptor of the era, Ignác Oppenheimer. The interior chambers of the storeys are richly ornamented, the walls of several of them have a wood covering or one of colourful draperies up to the present day. The building formerly functioning as an apartment house is a real spectacle with its decorative figure pairs on the third storey, its rustic footing and palatial entrance even for those just passing by.


Andrássy 12The history of the building

The Krausz Palace was built for Lajos Megyeri Krausz (1843-1907), who started his career as the director of a minor distillery leased by his father, then he got involved in the great business of the era, the corn industry. He built one of the largest mills of Budapest, the Gizella Mill in Soroksári út. The property had been owned by the Krausz family until 1920, and then it passed into the ownership of the Budapesti Kereskedelmi Testület (Budapest Association of Commerce).


The ground floor of the house was once home to the Piccadilly café and the Korona café.


The history of Andrássy Avenue

The idea of the creation of Andrássy Avenue was brought up in the reform era already, when Lajos Kossuth proposed the construction of a new avenue lined by trees. The ground for the project was that Király utca, the main artery of Terézváros at that time, proved to be a bottleneck.

The first plan for the construction of the new avenue was assented to by the House of Representatives in 1870 upon the proposal by Prime Minister Count Gyula Andrássy senior. Design of the buildings lining the new avenue was assigned among others to Miklós Ybl and István Linczbauer. The new avenue was opened in 1876, and the buildings of uniform Eclectic/Neo-Renaissance style were finished in 1885. The avenue was first named after Count Gyula Andrássy at this time.

The first plot owners came from the upper middle class and the aristocracy, and the intention behind the new properties built here was often investment or representation.


Andrássy Avenue can be divided into three sections:

  1. Deák Ferenc Square – Oktogon: 3 to 4 storey buildings, apartment houses
  2. Oktogon – Kodály körönd: 2 to 3 storey buildings, bridle-road
  3. Kodály körönd – Heroes’ Square: Standalone palaces, villas



In the heart of the City Centre


Office building Andrássy 12, standing on the section of the historic avenue between Deák Square and the Opera House, is only a few minutes walk from Erzsébet Square and Deák Square, a prominent transport hub of Budapest. Andrássy Avenue and the nearby Fashion Street have become the most preferred locations for the shops of luxury brands of the world in Budapest in the past years. Váci Street, with its elegant restaurants, offers many other facilities for high-standard amusement in the vicinity. Further, the road-section between Vígszínház and Kálvin Square, named the New Main Street of the City Centre and having radically decreased car traffic, was inaugurated this spring too within the Heart of Budapest Programme.


Andrássy 12

Nagymező Street, also called the Broadway of Pest and known for its teeming cultural life, where several theatres and galleries (inter alia: the Budapest Operetta and Musical Theatre, the Radnóti Theatre, the Thália Theatre, the Moulin Rouge, the Mai Manó House, and the Ernst Museum) are located besides the popular cafés, is only a few blocks away from the office building.