The new institution was transferred a chapel in the cloister of the Sé Cathedral of Lisbon. In 1502, after transferring the title of the Hermitage of Restelo to the Order of Saint Jerónimo, King Manuel traded to the Order of Christ the "Casa da Judiaria Grande" ("Great House of the Jewry"), a synagogue situated in Vila Nova (which was between "Rua dos Fanqueiros" and "Rua da Madalena"). The victorious Christians then rebuilt and consecrated the new church to "Our Lady of the Conception" (), then known as the "Church of the Conceição dos Freires", later known as the "Conceição Velha" (in deference to the Church of "Nossa Senhora da Conceição Nova", which was built along the "Rua Nova dos Ferros"). At the time, it was called the "Church of the Misercórdia".