The Palace of the Telephones was erected between 1929 and 1934 in a style specific for the American sky-scrapers with Art-Deco influences. The building, 52.5m (172ft) high, was the tallest edifice of Bucharest till 1970, being also the first building from Romania with a metallic structure. The drawings were done by the American architects Louis Weeks and Walter Froy.

It had suffered many damages either because of the bombardments or because of the many earthquakes of the 20th century. It was completely renovated, today being the headquarter of Romtelecom, a major player on the Romanian communication market.

The building is erected on the site of the previous Otetelesteanu hotel and house. The Otetelesteanu House was famous at the end of the 19th century for its sumptuous balls. After the death of Lady Otetelesteanu the house became a famous coffee shop, many important Romanian artists becoming regular clients of it.

Address: 35 Victoriei Avenue