It was built built between 1922 and 1930, in the center of the city by architect Eli Modiano, (1881-1968), a member of the well known Italian–Jewish Modiano family of the city. He studied architecture in Paris. The building resembles some Parisian markets. was one of the most famous Jewish architects who worked in the rebuilding of Thessaloniki after the fire of 1917. In 1922 he was awarded the title of knight by the King of Italy, Victor Emmanuel. It had food stores that sell spices, cheese, fish, meat, delicatessen products The building was sold in 2017 with plans to restore the building.