The building on Teatra Street in Old Riga, known for its sculptural composition of three atlantes, was purchased for 2.72 million euros by the company LLC "TE9". The deal was concluded following an auction organized by the state enterprise "State Real Estate" (VNĪ).
According to the Land Registry data, the new owner of the historical property is the company "TE9". As reported by Firmas.lv, the enterprise was registered on March 30, 2026, with a share capital of 2,800 euros. The sole owner of the company is Inna Kurilova.
As reported to the LETA agency by the real estate agency "Kivi Real Estate," which represented the buyer's interests, the deal has already been completed. The company noted that the house is one of the most recognizable historical buildings in Old Riga and holds significant architectural and cultural value.
According to Kristine Niedre, a board member of "Kivi Real Estate," investor interest in historical properties in the center of Riga and Old Riga continues to grow.
"The number of such buildings is limited, and their location, architecture, and cultural-historical significance create long-term value," Niedre noted.
A repeated auction took place on April 17. The starting price of the property was 2.71 million euros, with a bidding increment of 10,000 euros. Only one bid was made during the auction, resulting in the price rising to 2.72 million euros. The property includes a land plot of 435 square meters and a five-story administrative building with an attic, totaling nearly 1,900 square meters.
VNĪ previously reported that the house at 9 Teatra Street is a striking example of decorative Jugendstil with elements of eclecticism. It was once owned by the Riga bookseller and antique dealer Karlis Jakabs Zihmanis.
The facade of the building is adorned with decorative shells, floral garlands, atlantes supporting the balcony, and mosaics. The main architectural feature is the corner tower with a sculptural group by August Foltz — three atlantes holding a globe, which is illuminated at night.
The last major restoration of the building was carried out in 1989. Since 1992, it has housed the Embassy of Italy.
Notably, last autumn, this same property was sold at auction for a similar amount — 2.72 million euros. However, the deal was not completed at that time, prompting the state to organize repeated bidding under the same conditions.
