The palace, located in the square of the same name, within the territory of the Colonna district, is a 15th-century building, the only example in the city of the Roman Capitoline architectural style.
The inscription on the main portal indicates 1451 as the year of construction, which took place at the behest of Cardinal Domenico Capranica. The first private residence of the Capranica family, in 1457 it became a college for ecclesiastics.
The palace, heavily remodeled over the centuries and bearing traces of 17th-century additions, is characterized by the presence of a square-plan corner tower, with traces of graffiti and a bas-relief depicting the "Bust of Jesus the Savior between two candlesticks and two praying figures", the coat of arms of the Archconfraternity of the Savior; the tower ends with a loggia on the top floor, which opens with two arched windows on both sides.
On the ground floor, the two marble portals with architraves take on great importance: the portal under the tower, entrance to the college, has the inscription "COLLEGIUM CAPRANICENSE" while the one on the right, entrance to the original palace, bears the date 1451 and the inscription "TEATRO CAPRANICA".
On the first floor there is a series of windows: three Gothic mullioned windows and three Renaissance Guelph Crusader windows. In the Gothic ones, on the capitals of the columns, there are still traces of the Capranica family coats of arms.
On the second floor, however, five of the six windows are walled up.
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