Designed by architect Rino Levi and built in 1950, the building is a reference of modernist architecture in the state of São Paulo, standing out for its vertical use of space, open plan, and free façade, among other features. It was originally constructed to house the Banco Paulista do Comércio, whose branch occupied the ground floor, basement, and mezzanine, while the upper floors were used for offices. Today, the building is listed as a protected landmark by CONPRESP.