Situated at the junction of Podwale and Miodowa Streets, it was constructed for the aristocratic Branicki-Gryf family in the Rococo style.

The original building that stood where the palace now stands was a 17th-century mansion of the Sapieha family sold in the beginning of the 18th century to Stefan Mikołaj Branicki.

[4] This led to the current palace, built in 1740 by Johann Sigmund Deybel for Grand Crown Hetman Jan Klemens Branicki.

[6] The Branicki Palace previously had been called the Mrs Krakowska Palace, because after Branicki's death the property was inherited by his beautiful wife Izabella Poniatowska (1771), sister of king Stanisław August Poniatowski (Izabella was a daughter of Stanisław Poniatowski, Castellan of Kraków).

She held a salon in the palace, and became known as a patron and gatherer of artists, intellectuals, and statesmen in the era of Enlightenment in Poland.