Situated just off Calle de Alcalá, at the very beginning of Gran Vía, the Edificio Grassy was built between 1916 and 1917.

Its basement also houses a museum of ancient clocks, with remarkable French, German and English items which span from the 16th to the 19th century, conforming an interesting private collection.

For the last decades Jaeger-LeCoultre, Audemars Piguet, Piaget and Baume et Mercier have enjoyed a preeminent position, easily distinguishable at the entrance of Gran Vía.

In 1981, the Edificio Grassy was immortalized by painter Antonio López in his hyperrealist masterpiece "La Gran Vía".

A plaque placed at the entrance of the building facing to Calle del Caballero de Gracia informs that in spring 1840 Théophile Gautier lived in this area.