The Palace of Waterdeep, also known as the Lords' Palace and previously often called Piergeiron's Palace, was the residence of the Open Lord of Waterdeep.
The Palace also served other functions for the administration of the city. It was the main office for many of the city's officials including City Watch, City Guard, and City clerks. The Masked Lords of Waterdeep Court also met in a large chamber on the second floor.
There were embassies here from many other countries and cities, although they were not required to be on the palace grounds. Guest quarters for foreign dignitaries without embassies were also available.