In addition to the Táncsics building, Hungary will take over two more properties from the US, one in King Béla Road in Buda and the other on the Széchenyi embankment along the River Danube.
As part of the in-kind transaction, Hungary will pay an estimated HUF 2.5-3 billion to convert the building on Szabadság Square into offices, Ms Göncz said.
The exchange was agreed on during a trip to Hungary by US President George W. Bush last year, and a declaration of intent was signed by Göncz and Foley in October.
The 1,200-square-metre Táncsics building was acquired by the US after WWII. It has served as the home for 8-10 marines and a gym has been installed on the second floor. The embassy also holds its annual July 4th garden party in the building's courtyard.
Mihály Táncsics (1799-1884) was freed from his prison after a year on March 15, 1848, at the outbreak of the revolution against Habsburg rule. He was later sentenced to serve seven years in the same building.
Source: Múlt-kor / Hungarian News Agency (MTI)
