The building was built in 1876 based on project of Janis Fridrihs Baumanis (1834-1891), as a five-story brick rental building with mansard on then Esplanade Street. In 1928, architect P. Mandelstam completely redesigned the facade, transforming the building in the luxurious Hotel Imperial which at the time was the most prestigious in Riga.

The building was acquired in 2016, and extensive renovation was carried out, recovering the original amazing gypsum and marble decorations, installing new lifts and recovering historical entrance.

The works were completed in 2018, including the construction in the basement of a modern underground parking, where up to 18 cars can be parked and up to 60 bicycles can be stored.