The two-storey palace of the Armenian Bishop was built in the 15th century next to the market as a trading house, which was rented out to Armenian merchants. Then the residence of the Armenian bishop was located in the house and, for some time, the commandant of the fortress, Jan de Witte, lived here. On the stone slab near the house there is an inscription: "The house was bought by pastor Beatrice and his wife in 1479."

Now the building houses the Archaeological Department of Antiquities of the Kamenetz-Podolsk Historical Museum-Reserve. In the halls of the museum, the dwelling of an ancient man is recreated in the form of a diorama "Neanderthal Cave", ancient tools, household items, decorations of people who inhabited Podolia from ancient times to the baptism of Russia are presented. In the courtyard there is an exhibition of pagan idols found on the territory of the Khmelnitsky region, which were used in pre-Christian rites.