The palace, which is one of the buildings at the Piazza dei Cavalieri, changed its name multiple times over history, depending on its function and the present name refers on the twelve member’s council that was the main body of the “Ordine dei cavalieri di San Stefano”. The building was renovated by Pietro Francavilla for this purpose in the 16th century. It has a pink plaster facade that emphasize the white marble decorations.

The palace is located on the Square of the Knights and previously belonged to the Eaglet of the Knights of St. Stephen. It housed the order's leadership of twelve members.