Located in a 16th-century building, it was known as the Women's Hospital from the time of Maximilian's regime until 1966.

After being beautifully restored, it was adapted to house an enormous and valuable collection of American, European, and Asian viceregal art accumulated by Franz Mayer, a German philanthropist.

The collection is classified chronologically and thematically, functioning as a museum of applied arts. It showcases an exceptional collection of artistic objects from the 15th to the 19th century, including wooden furniture from different styles and origins, sculptures made of pure silver, liturgical objects made of gold and silver, clocks of various shapes and periods, ceramics, paintings, and carpets from Mexico, Europe, and Asia.

Upon leaving its six permanent rooms, you reach the cloister where several rooms representative of a Novohispanic mansion have been recreated. The museum offers museographic services, a historical library, an auditorium, and organizes temporary exhibitions.