One of the most prominent features of this typical Madrid mansion, built in 1730, is the carved granite baroque facade, designed by Pedro de Ribera. The palace is also home to one of the finest eclectic interiors in Madrid. It is currently one of the headquarters of the Madrid Chamber of Commerce.

When the Dukes of Santoña acquired the palace in 1874, they adapted it to the tastes of the time and the decor has been preserved ever since. Thus, a facade was opened up onto Calle de las Huertas, similar to the one created by Ribera on Calle del Príncipe, and a spectacular marble staircase was built, designed by Carlo Nicoli. The sumptuous halls of the main floor are adorned with mural paintings, created by artists of the time, such as Sans Cabot, Pla, Francés and Domínguez among others who, through the neo-baroque language, drew together the Italian Renaissance settings with French Rococo and Oriental styles. 

Later, the palace became the residence of José de Canalejas. In 1933, it was acquired by the Chamber of Commerce and Industry, which ordered a complete restoration, carried out by Chueca Goitia. In 1953, the facades were restored, and the palace was later further extended and refurbished. 

The Chamber of Commerce rents out rooms in the palace to host various types of events.