It was built at the request of the Constables of Castile during the 15th century. Its creator was Simón de Colonia. It served as a meeting place for the Catholic Monarchs and Christopher Columbus on his return from his second voyage to America. The Courts of Castile in 1515, which approved the union between the kingdoms of Navarre and Castile, were also held there. It was an emblematic building for the monarchy of the time. All the Habsburgs stayed in this house at one time or another. Its name alludes to the Franciscan cord that frames the main doorway. It is currently the headquarters of the Caja de Burgos bank.