In the early 20th century, Vladivostok rapidly developed and became the center of merchant life in the Far East, gradually acquiring the features of the business capital of Primorye. Luxurious restaurants, large shops, apartment buildings, and prestigious hotels appeared in the city. One of these hotels was Central on Svetlanskaya Street, owned by local merchant Karl Georgievich Goldenstedt. It was built as one of the most prestigious and comfortable in the city, and externally it resembled a palace. The building was constructed in the Art Nouveau style, with a prominent massive first floor contrasting with the second and third. The roof was adorned with towers featuring sharp spires. Central impressed guests so much that many saw a resemblance to the Moscow store Myur and Meriliz (now TSUM).

The hotel was considered the most comfortable in Vladivostok: it had plumbing, sewage, electricity, rooms furnished with expensive furniture, and corridors decorated with paintings. The second and third floors housed offices and halls, while the first floor was rented out to shops. The hotel thrived and brought significant profits to Goldenstedt.

However, during the Civil War, things worsened, and the hotel began to incur losses. In Soviet times, the building was nationalized, and in the 1930s it was converted into a department store for the Pacific Fleet's Trade Management. Later, as part of the fight against architectural excesses, the attic floor was demolished, and some details were removed. A few years ago, attempts were made to restore Central, but the work was carried out improperly, and in the end, only the facade of the hotel remained.