The building of the Volkenstein income house, erected in the late 19th and early 20th centuries, is one of the monuments of pre-revolutionary architecture in the historical center of Rostov-on-Don.

The name of the first owner of the house is still unknown, but the building was named after its most famous owner, lawyer Lev Philipovich (Isaak-Leiba Fisheleveich) Volkenstein. He was an influential person, passionate about theater, and the brother of Mikhail Philipovich (Moses Fisheleveich) Volkenstein, the director of the "Society of Access and Railway Routes in Russia." Lev Philipovich is also known for having studied at the gymnasium with the writer Chekhov, who mentioned meeting him in his diary in August 1894.

After acquiring the building, Lev Philipovich carried out a major renovation, decorating it with classical decor and adding a stucco heraldic shield with lions to the eastern wall. He lived in the house with his wife Sofia Efremovna, two daughters Alice and Olga, and a son Yuri, who later became a lawyer in Paris.

With the advent of Soviet power, the family was forced to emigrate, and the building was confiscated. In 1930, two additional floors were added to it. From August 1943, it housed the Azov-Don Shipping Company, and then the building became residential again and remains so to this day. A few years ago, the former income house was included in the list of cultural heritage sites of regional significance.