It is the seat of a Monte di Pietà, a public body that served as a bank for low-rate loans, from the end of the 17th to the 18th century. Promoted and financed by Francesco Ulderico della Torre, captain of Gradisca, it was established to combat the phenomenon of usury.

The building was erected at the end of the 17th century. The main façade has a horizontal development, marked by the string courses that highlight the three levels. In the centre of the façade, the entrance portal is enclosed by an arch whose keystone bears the coat of arms of the city. Above is a shell-shaped canopy that houses a sculptural group depicting the Pietà. Originally, until 1786, there was a public clock with two bells on the roof. On the sides of the gate there are two small metal lion heads bearing a ring, once used to tie horses.

On the ground floor, the atrium is paved with square slabs of black and white marble arranged in a chequerboard pattern and is surmounted by a ceiling with squared wooden beams; above the four side doors, enclosed within gravestones with a black background and golden frame, there are inscriptions relating to the history of the building. The internal fulcrum of the building is the staircase, where the statue of Francesco Ulderico della Torre is located.

Today the building is the seat of various associations.