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Being one of the most beautiful representatives of Neo-Ottoman architecture, the Residence stands on the Beylerbeyi strait of Bosphorus Bridge... It was first accommodated by Damat Melek Mehmet Pasha, the Grand Vizier of the period...

Later in 1890, it was reconstructed by the architect A.Valluary and was bought by Ismail Hakki Pasha, the Deputy of Debre... After the big fire in 1983, the building was restored by Yali Tourism Investment and Management Ltd. with the approval of Ministry of Tourism, based on the old drawings and photographs...