A significant example of Turkish architecture, following the principles of Neoclassicism. It was constructed in 1878 in order to house the "Efkafi", a Turkish service for the administration of the Philanthropic foundations. The architectural form of the building presents elements of the Romantic Neoclassicism, finely combined with the models of Balkan architectural tradition.

At the end of the 19th century the building housed the Turkish service of "Efkafi".

After the liberation of Crete, it housed the Greek service of "Antallaxima" (Exchangeable) and later it was sold to individuals. Since then its function has changed many times and over the years it has been used as a private school, as shops, institutes etc.