He had the houses rebuilt into a magnificent city palace in the Renaissance style. The entire facade, including the attic, is richly decorated with graphite. The Rákoci family thus managed to create a real gem of the city's Renaissance architecture, considered to be the most beautiful city Renaissance palace in the territory of the former Upper Hungary.
The history of the palace has been closely connected with the history of the Rákoci family since its foundation. In 1633, negotiations took place there between the representatives of the Transylvanian prince Juraj I. Rákoci and Emperor Ferdinand II, which ended with the signing of the Peace of Prešov. After 1711 it was confiscated and changed several owners.
During the 18th century. the courtyard wing was rebuilt in the Baroque style. In the 19th century. the building had several owners or tenants who adapted it to commercial and workshop premises. A thorough reconstruction of the palace into its original Renaissance form, completed by the restoration of the graphite decoration on the façade, took place in the 1950s. At present, the building houses the Regional Museum in Prešov.
At present, the Regional Museum is housed in the building of the Rákoci Palace. The Regional Museum has several permanent exhibitions - e.g. about life in Šariš, the history of Prešov, historical weapons, firefighters. In addition, the visitor will find other temporary exhibitions here.