The building itself is a post-classical town house built in 1871, which was rebuilt in 1906 to serve as an official bank house. The company history of Bankhaus Wassermann ends in 1938 with the forced sale under National Socialist rule. Since 2013, three Stolpersteine (cobblestone-size concrete cubes bearing a brass plate, placed outside the houses of the victims of Nazi persecution and inscribed with their names and life dates) in front of the building commemorate Elsa, Edith and Alice Wassermann, who were murdered by the National Socialists in Riga in 1941.