The palace was built in the late eighteenth century and owned first by the Principe di Belmonte Giuseppe Emanuele Ventimiglia e Cottone to be later acquired by the Prince of Pandolfini. In the nineteenth century it passed to Baron Riso. The building was severely damaged by bombs during the Second World War. The first restoration of the palace was conducted in the mid-nineties which included the reconstruction of floors and roofs, of the two large axial courts, and the reorganization of internal spaces. It is in this suggestive location in the historical center of Palermo that the Museum of Contemporary Art is housed.