The Culbertson Mansion was built for William S. Culbertson in 1867-69 by architect/builders William and James Banes. Culbertson spared no expense in having the French Second Empire-style mansion built to his liking, spending $120,000 on its construction. The mansion contains a full basement with three stories above, with 25 rooms and 20,000 square feet.

Culbertson came to New Albany from Pennsylvania in 1835, at the age of 21, and found great success as a wholesale dry goods merchant. Culbertson's philanthropy was also noteworthy: he financed the construction of a widows' home (still standing at 704 East Main) and an orphans' home, which stood on Ekin Avenue. At the time of his death in 1892, Culbertson was considered one of the wealthiest men in the state, with an estimated net worth of three and a half million dollars.

His heirs sold the mansion at auction in 1899, where it was purchased by the McDonald family for only $7500. Following the McDonalds' residency, the home was used as an American Legion Post for many years. In the early 1960s, the mansion was in danger of being torn down and replaced by a gas station on the site. Historic New Albany purchased the house to save it, and in 1976 donated the property to the state. It continues to be operated as a state historic site, with restoration work ongoing. More information is available at http://www.indianamuseum.org/sites/culb.html.