Unfortunately, the Drechsler Palace of Budapest is more of a derelict site, despite the obvious architectural qualities of the building. It was built between 1883 and 1886 under the supervision of two chief architects, namely, Odon Lechner and Gyula Partos, in an eclectic architectural style. It used to be home to the Institute of Ballet, and it is located in the proximity of another historical building and protected monument, that is, the State Opera House. In fact, it actually faces the State Opera House.
The word goes the Drechsler Palace is bound to be turned into a luxury hotel.