Built starting in 1463, probably by the same craftsmen who had created the oldest cloister of the Gregorian Seminary, which at the time was the seat of the city's Franciscan convent. The building was established to accommodate a community of the order of Servants of Mary, which, along with Brother Elia from Brescia, was among the main promoters, in the early 16th century, of the construction of the Monte di Pietà. The Servite community remained in Belluno until the Napoleonic suppression of 1806. Requisitioned for administrative use, it currently houses the state offices of the Finance Department.
It is located in Piazzetta Santo Stefano, in the immediate vicinity of the beautiful Church of Santo Stefano: both monuments are included among points of interest highlighted by the itineraries designed to explore the historic center of Belluno on foot. They are located along the red route, “Dolomiti”.