Revolutionary in its time, this was the first multi-storey building to appear in Heraklion and the first apartment block to be equipped with a lift.

Its foundations were laid on the curtain wall on the northeast side of the enceinte, near the Sampionara Bastion, which suffered irreparable damage as a result. The main structure is made of stone masonry and reinforced concrete. The interior boasts two large lighting wells and two main entrances leading to stairways and lifts.