As the Plaza Mayor's first building, it served as a model for the rest. The original had archways that gave people access to the square and its daily market from the main street, or Calle Mayor. It was built for the bakers' guild in 1617 and had a colourfully painted façade that was later destroyed by fire. In the late 1980s, painter Carlos Franco was commissioned to redecorate the façade, which he did with allegorical depictions of time and the horoscope. The building now hosts interesting exhibitions about Madrid.
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