The old settlement of Agios Efstratios was destroyed by an earthquake in 1968. It was situated on a hill above the harbour. Houses were made of stone and featured two or three stories with wooden supports and traditional architectural styles.
From the earthquake and the subsequent demolition by the military dictatorship of that time (junta), some stone houses were saved which were later restored with great care by the locals, like the beautiful building of Porfyreios and Marasleios School which until then housed the primary school of the island. Its construction lasted from 1906 to 1909 with funds of the community of people from Agios Efstratios who lived in Egypt and the donation of National Benefactor Grigorios Maraslis. Presently, following its renovation, it is planned to house the “Green Energy” Academy within the framework of the implementation of “Ai Stratis – Green Island” Project.