Rebuilt by King Christian IV into the Renaissance style in 1610, it was in use until 1728 when it was destroyed in the first Great Fire of Copenhagen.

It was built on the south side of the Gammeltorv but nothing is known about the appearance of the building during this early phase of its history.

When King Christian IV ascended to the throne in 1588, it was with ambitions to strengthen Copenhagen's strategic role in the Baltic region and he soon embarked on a number of building projects such as the new Arsenal Dock, Rosenborg Castle, and the Børsen.

[1] A projecting, octagonal staircase tower topped by a spire was built in the middle of the façade towards Gammeltorv.

[1] The cellar was used as a jail as well as a drinking establishment serving beer and wine.