The palace changed through many hands over the centuries; coats of arms on the walls include those of the Piccolomini and Bandinelli.
Other names for the palace have included Petroni and Grottanelli-de' Santi.
A plaque indicates palace rebuilt in 1425, by Capitano Pietro Salimbeni Benassai.
In 1854 it underwent a reconstruction which, hoping to give the palace an antique look, led to addition of crenellated roofline, and rings for tying up horses.
The palace is down the street from the Palazzo Chigi alla Postierla, Siena.