Ostankino Palace is a former summer residence and private opera theatre of the Sheremetev family, originally situated several kilometres to the north of central Moscow.

Extant historical grounds include the main wooden palace, built in 1792–1798 around a theatre hall, with adjacent Egyptian and Italian pavilions, a 17th-century Trinity church, and fragments of the old Ostankino park with a replica of Milovzor folly.

In 1790 he held an architectural contest for a Palace of Arts in Moscow, but eventually preferred to build it in the country, far from city life.

This project did not materialize; by 1792, Sheremetev built only a two-story wooden theater hall, apparently discarding Casier's plans.

Then, as Sheremetev recruited services of influential contemporary architects (most notably Francesco Camporesi, see Attribution dispute section), work accelerated and the wooden palace was structurally in its present shape, including pavilion wings, by the end of 1793.

Contemporary witnesses reported that Sheremetev was so confident in perfection of his palace that he set up an unprecedented veil of secrecy around construction site: the manor was closed to any visitors, covered with shrouds, architects worked in parallel unaware of each other's progress.

The theater operated publicly for just one season in spring 1797, with one show for emperor Paul and one for Stanisław Poniatowski, former king of partitioned Poland.

Partitions separating stage, orchestra pit and spectator areas were re-introduced during the controversial repairs of the 2000s, so the theater can once again be used in its original function.

[1] Igor Grabar attributed design of the palace to Vasily Bazhenov; this viewpoint is discarded by modern studies as unsubstantiated.