Picture from before the restoration.
From the site of the hotel now located at this spot I conclude this is the “4th Vakıf Han”, built in 1911 by architect Mr. Kemaleddin, who was director of the Construction and Restoration Department at the Ottoman Ministry of Foundations. It is styled as first Turkish national architecture , also called Ottoman Revivalism. The building was constructed between 1916 and 1926 in the place of 'Hamidiye Külliyesi', the religious buildings complex belonged to Sultan Abdulhamid I. It was built to meet the high demand for Office blocks at the area in the early years of 20th Century. During the occupation of Istanbul by allies following World War I , French troops, which were stationed in the old city zone, used the at that time incomplete building from 1920 to 1923 as barracks, calling it 'Caserne Victor'. In the latest years of 20th Century ,the office building housed the Istanbul Stock Exchange and Bankers for a long time. The building, constructed with a steel skeleton frame, has seven floors including the basement. The top gable is flanked by two turrets and the building has two symmetrically placed entrances in between 24 shops with mezzanine. The entrances open up to both corners of a U-shaped passage. In the above four floors, there were a total of 148 office rooms of equal size for rent, 37 at each floor. At the end of the passage, two stairways and elevators make it possible to reach the upper floors .There exists also a service stairway in the middle of the backside running from the ground floor to the mansard, which is unusual in Ottoman business buildings. In 2000, the building was emptied with the intension to be used as a court. After standing vacant for four years, the Istanbul 4th Vakıf Han was leased to the company Gap-San Eserler for a lease term of 25 years The restoration work that lasted twelve months and completed in 2006.