This is a building on the street called Szentháromság Tér in Budapest, Hungary at a time when the surrounding area was being re-developed. The building directly in the centre of the picture is still prominent in the modern Street View picture, as is the War Memorial, but the rest of the area has changed considerably because of the re-development, presumably the changes shown in this picture.
This photo was originally on Found Film as a Challenge which was won by Bruce - see the comments below.