The architect of the palazzo is unknown, but the design is frequently attributed to Giovanni Buora, Mauro Codussi, or Pietro Lombardo.

When the palazzo was the residence of the Princess of Polignac, it became the site of a great intellectual salon, hosting important personalities in the field of the arts (especially music), like Igor Stravinsky.

Today, the palazzo is still a private residence and a property of the Decazes family, direct descendants of Winaretta Singer, Princess of Polignac ; it was restored between 2004 and 2007.

The palazzo's look appears as a mixture of elements inspired by Byzantine art, Renaissance architecture, and components of Tuscan origin, thus creating a union, which severity and grace were much appreciated even by John Ruskin.

[7] The structure stands on a place of previous Byzantine factory, of which only the shape of the windows and the round decorations that enrich the facade survive.