Merchant S. Hakhnazaryan's house was located in Demirbulagh quarter of Old Yerevan. It was built in 1880. The two-storey building was one of the finest examples of Yerevan's architecture of that period. There were shops and residential houses in the building.

The building is currently being built on 11/1 Aram street. On the 1st and 2nd floors it is planned to build shops, exhibition halls (and more), and 18 guest houses on the added two floors. The building also has an outdoor roof with lawn and decorative trees.

The building is rich in decorative and artistic elements. There are two storey balconies alongside the front facade. The main facade has three balconies, the first floor is covered with black tuff and the second one with brick.

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