The building was designed by architects Rafael Fernández Ruenes, Esteban Rodríguez Castell and José Menéndez, for the Bacardi rum company. The art deco landmark was completed in 1930 and was at the time the largest building in the city.
After the Cuban revolution and the departure of Bacardi from Cuba, the building continued to be used for offices. At the end of the 1990s it was renovated by the city historian's office.
In 1963 Bacardi opened their US head office in a building in Miami.