The present building was erected in 1903 on the site of an older family home, where Andreas Kalokairinos and Maria Krasaki lived after marrying in 1835.

The original house was levelled by an earthquake in 1856 and left in ruins until 1870. Its replacement, designed by the famous Greek architect Lysandros Kaftantzoglou, was destroyed in the 1898 riots.

The north elevation has three floors, on account of the sloping plot on which the present building stands. The main entrance was originally situated on the south side, where there is a marble portico supported by Doric columns, below a balcony with a marble parapet. Interesting frescos, ceilings and other embellishments are still visible inside the building.