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. It was built between the years 1926-1930. Today it houses a luxurious hotel.Its foundations were laid on the curtain wall on the northeast side of the enceinte, near the Sambionara 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.