Palais Pallavicini is located in the Josefsplatz square at number 5 and forms an architectural ensemble with the Hofburg Imperial Palace and the Spanish Riding School.

The palace was constructed in 1784 by Johann Ferdinand Hetzendorf von Hohenberg in a Neoclassical style, with caryatids by Franz Zauner framing the front entrance.

It was built for Count Johann von Friesa member of the Fries banking family (and is therefore also known as Palais Fries).
Then it was inherited by Johann's son, Imperial Count Moritz von Fries, who was one of the richest men of his time.
Ultimately, an economic crisis destroyed Mortiz' fortune, forcing him to sell the palace.

In 1842 Alfons Pallavicini acquired the palace; in 1873 it was inherited by his son Alexander Pallavicini senior.
Fortunately, the palace did not suffer any serious damage during the two World Wars and can therefore still be admired in its original state to date.
The Pallavicini family still lives in Palais Pallavicini.