The once-imposing building on Pheidiou Street is almost unnoticeable due to decades of abandonment (the Greek Conservatory ceased to operate in 1971). Erected in 1836, it possesses an historical rather than architectural value, since it was one of the first private mansions to be constructed in the new capital of the newly formed state of Greece. The building came into being when the Austrian Ambassador to Greece Anton Prokesch von Osten, looking for somewhere to stay in Athens, decided to build himself a residence. The ambassador assigned its construction to the Viennese painter and architect Karl Roesner. The building passed into the conservatory’s hands in 1919. Nowadays, it is the property of the National Bank’s pension fund. A respresentative of the fund told Kathimerini that at various times, efforts had been made to upgrade the building, however, these have come to naught. The latest attempt is under way: The interested party will be submitting an overall proposal within the following weeks and is being informed by YPPO on the limits to any work that can be carried out on the old conservatory, which has been declared a listed building.