The building is situated on the corner of Husova Street and Mariánské Square, in Prague Old Town.
The palace was first designed by the imperial court architect Johann Bernhard Fischer von Erlach, from Vienna.
During the rest of the 18th century, Jewish[citation needed] balls and concerts were held in the palace, and were attended by noteworthy artists including Mozart and Beethoven.
Besides, since 2010 a multi-genre festival named "Opera Barocca" is regularly held (twice a year) in the palace premises.
This festival is focused on historically informed performance of Baroque music, dance, theatre and carnival.