Built at the end of the 19th century, Palazzo Margherita is the best known of Bernalda's historic residences and is protected by the Superintendence of Architectural Heritage.
Today it is owned by the Italian-American film director F. F. Coppola (whose grandfather emigrated from here to America in 1904) and has been reborn as a 5-star resort, thanks to a careful bio-ecological restoration project by the well-known French interior designer J. Grange. It houses one of the few and best-preserved urban gardens in Basilicata, behind the palace and overlooking the Basento valley. Its layout is due to the strong personality of its creator and implementer, Giuseppe Margherita, heir to the family residence, who began its transformation in 1925. The garden reveals few built elements and is marked by a luxuriant mixture of local essences (holm oaks, maritime pines) and exotic trees, including four gigantic palms, plants that Giuseppe Margherita later introduced also along the course of Bernalda, of which he was first Commissioner and then Mayor (1939-43).
There is a sad legend about this palace, linked to a love-suicide that affected the rich family that lived there. The owner's daughter fell in love with the family's young stable boy and their love remained clandestine until her father found out. He shot him with a rifle, but the boy was badly wounded, escaped and was cared for by a shepherd. The girl, convinced of her lover's death, threw herself from the balcony. From that moment on, disturbing things happened: every night there was a knock on the central window, which was removed and replaced with a fake brick one. So the spirit stopped wandering around the building and continued its search for its beloved elsewhere.