Having 14 floors and a height of 47 metres (154 ft), it was the tallest building in the capital until it completely collapsed in 1940 in an earthquake.

The master plan for the systematization of Bucharest, elaborated by the City Hall in 1935, was the basis for the construction, as were most other tall buildings erected in the center of the capital at the time.

The calculations for the reinforced concrete structure that conferred the strength of the building were performed by the engineer Franz Schüssler.

The earthquake, with a magnitude of 7.4 on the Richter scale, happened at 3:39 am (local time),[3] when most residents were at home.

According to Constantin Bălăceanu-Stolnici, the collapse of the building killed at least 150–160 people,[3] although other accounts put the death toll at 200–220, with a single survivor (a watchman on the top floor).