In 1603, Emperor Rudolf II. (1552-1612) gifted the property to his military secretary, Heinrich Nickhard. In 1707, the pawn shop and auction house founded by Emperor Josef I. was based here, a predecessor of today’s Dorotheum. Between 1720 and 1730, it was rebuilt by an architect who was closely aquainted with Johann Lucas von Hildebrandt (1668-1745). In 1805, Archduke Charles finally acquired this building, which was remodelled into his palace from 1801-1804 by Louis Joseph Montoyer (1749-1811). In 1817, his son Albrecht was born here, who would also become a famous field commander.

From 1841-1847, the composer and founder of the Vienna Philharmonic, Otto Nicolai, lived in this palace. From 1838 until his death in 1856, Simon Georg Freiherr von Sina (1783-1856) was the owner of this property. He was one of the most important bankers and entrepreneurs of the 19th century.

In 1965, this palace, with its Baroque facade and lattice balconies overlooking Seilerstätte, which were added in 1872, was converted into an international cultural centre and student residence, and the building even housed a small theatre. Its final refurbishment took place in 2000, when it became the home of the “Haus der Musik” Sound Museum.