 It is known among the locals with nicknames such as "The Red Castle" and "The Red School".Designed by the Greek architect Konstantinos Dimadis, the building was erected between 1881 and 1883 with an eclectic mix of different styles and at a cost of 17,210 Ottoman gold pounds, a huge sum for that period.The money was given by Georgios Zariphis, a prominent Greek banker and financier belonging to the "Rum" community of Istanbul.