The palazzo was designed in 1749 by architect Lorenzo Boschetti (author of the facade of the church San Barnaba) for the Venier family.

[1] The project envisioned a building that would combine the styles of Palladio and Longhena, two architects who left a significant legacy in Venice.

However, the ambitious project remained unfinished: the Venier family's financial problems led to the construction of only part of the first floor of the palazzo.

In 1948, Peggy Guggenheim purchased the palazzo, which became not only her Venetian home but also the venue for her small but valuable collection of modern art.

At the center of the facade is an entrance, consisting of a niche with a gate leading to a broad terrace that offers a view of the Grand Canal from the Academy Bridge to Piazza San Marco.