Built between 1910 and 1911 to replace the early neoclassical Pallis residence constructed before 1845, the new Pallis Manor in Syntagma square at the corner of Karageorgi Servias Street, was built around 1910–1911 from designs by Anastasios Metaxas.

The newer, more glamorous manor is an example of late neoclassicism, with strong eclectic features and heavy, elaborate decorations. Employing novel construction techniques, Metaxas was one of the first to use reinforced concrete in Athens.

After the Pallis family relocated, the building became home to the Ministry of Transport until World War II. Subsequently, the Omega Technical School and various bank branches occupied the ground floor. On October 18, 1944, Georgios Papandreou, prime minister of the National Union Government, having only recently returned from the Middle East, gave his liberation speech from the first-floor balcony. The building was listed as protected in the 1990s, to avoid being demolished like others overlooking the square.

In recent years, with special permission from the Ministry, the façade was restored and renovations made to preserve the unique interior, which now houses a bookstore.