By the time of the February Revolution in 1917, the Romanov dynasty owned many palaces, most of which were destroyed or fell into disrepair in the following years. However, the palace of Grand Duchess Olga Alexandrovna became a pleasant exception: it preserved not only its exterior appearance but also its magnificent interiors. The building was erected in the 1830s by the princes Baryatinsky and was repeatedly rebuilt. In 1858, architect Gerald Andreyevich Bosse significantly expanded the house, giving it baroque features. In 1874, architect Mertz conducted a second major reconstruction, which preserved the current proportions of the building.

The last legal owner of the palace was the 14-year-old Grand Duchess Olga Alexandrovna, who inherited it from her father in 1896. After her marriage, she moved there with her husband, Prince Peter Alexandrovich of Oldenburg. For the new owners, the palace was rebuilt again, but without radical changes. A coat of arms appeared on the facade, corresponding to the status of the Grand Duchess, and the main focus was on the interiors, which were worked on by Dubinsky and Rubtsov. However, the family lived in the mansion for a short time: the marriage turned out to be unhappy and was rather formal. With the onset of the war, the Grand Duchess went to the front as a nurse, and later Nicholas II granted her a divorce. After the February Revolution, she went south and then emigrated. The mansion was confiscated by the new authorities, but, unlike other architectural monuments, it survived and still delights passersby.