The palace was constructed according to the plans of architect Ion D. Berindey in 1911, by Gheorghe Grigore Cantacuzino, called „Nababul” (“The Nabob”). Inspired by the architecture of The Little Trianon of Versailles, the palace was intended to be a mark of luxury and a statement of the owner's statute. In 1913, after the sudden death of the beneficiary, the almost finished palace becomes the property of his son, who abandons the works, leaving the building in ruin.
During the First World War, the German Army vandalized the building that also suffered structural damage in the 1940 earthquake. After the nationalization in 1948, the ensemble was transformed in a canine unit, and then after 1965 in tuberculosis sanatorium, that still functions.
In 2000, the palace was returned to the heirs, who sold the property to a private investor. Today different projects and initiatives are implemented in order to stop the degradation process and rehabilitate the monument.
