The building was erected around 1878 to house the Ottoman Evkaf administration, which oversaw Muslim charitable endowments (waqf) as well as Muslim orphans. The religious court was also accommodated in the same building. Following the departure of the Ottomans, it went on to house shops, offices, educational institutions, and other uses.

It represents an early application of Romantic Neoclassicism, adapted to morphological models drawn from Balkan architecture. The façades are articulated through the use of strict axes of symmetry. On the ground floor, eight arched doorways are formed, defined by pilasters, while the upper floor features a corresponding eight windows with straight architraves. The main entrance is centrally placed, set back within a recess.

The composition is enriched by a wealth of architectural detail, including decorative frames to the openings, pilasters with simple and Corinthian-style capitals, cornices, and arched lintels. Of particular interest are the window sills of the upper floor, where rendered decoration evokes the form of a lattice screen with a rosette at its centre.