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observatory (n.)

"building for observing astronomical phenomena," 1670s (in reference to Greenwich), from French observatoire, from observer (v.) "to observe, watch over, follow," from Latin observare "watch over," from ob "in front of, before" (see ob-) + servare "to watch, keep safe," from PIE root *ser- (1) "to protect."

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Definitions of observatory from WordNet

observatory (n.)
a building designed and equipped to observe astronomical phenomena;
observatory (n.)
a structure commanding a wide view of its surroundings;
Synonyms: lookout / observation tower / lookout station
From wordnet.princeton.edu