In 1502, after selling the Ermida do Restelo to the Order of Saint Jerome, king Manuel Ist gave the Order of Christ the Synagogue House of Judiaria Grande I (the large Jewish quarter) located at Vila Nova square, between what is now the Rua dos Fanqueiros and Rua da Madalena. Refurbished and dedicated to our Lady of Conception, and also on the Rua Nova dos Ferros, later on « Old Conception ». Alexandre Herculano and other authors have wrongly identified this church as the Lisbon Grand Synagogue. Other authors have since clarified the question, but that does not prevent some guides going to the church’s north entrance showing the spot where they thought was the Mezuzah.

The old large Jewish community lived and worked between the Madalena and S. Nicolau churches and the Rua da Correaria. The urban sketch was of course different then, some areas around the Fotea well having been demolished. Nevertheless, and there was located one of the Jewish doors. King Pedro made a reference to this door after the scattering of the Jewish communities. This area was later on refurbished several times, namely by king Dinis, modifying the urban space even if he played a crucial role in the urban development of that same area.

The synagogue was a meeting place, and the king had to approve its construction. Until 1383, the old Jewish synagogue was the most well-known, comprising the space of nowadays Madalena and S. Nicolau churches, near the Conceição church. Under king John II, the synagogue had three naves, but was no longer the original building of king Dinis reign, because it had already been refurbished.  The church S. Nicolau was a part of this later building.