It is a historic palace dating back to 1826 built in the classical style, which was the residence of the Russian princes Alexander and Peter in Oldenburg. It is located near the northeastern corner of the city. It is also an art museum that houses the modern art collection of the State Museum of Art and Cultural History. The museum focuses on the collection of works by German artists from the neoclassical and romantic in the mid-19th century to the post-1945 era.