Occupied for a few years by Manuel Godoy, at present the palace is the headquarters of the Center for Political and Constitutional Studies, an agency of the Ministry of the Presidency, Justice and Relations with the Courts.

Sabatini used stone and brick, combining these materials in the style of other monuments that he had designed in the capital, such as the Royal Customs House.

Despite giving the building its popular name, the Marquis de Grimaldi was not the first to inhabit the Palace of the Secretaries of State, but instead his successor, the Count of Floridablanca, in 1782.

Finally, from 1941 to 1943 it was renovated to house the Museum of the Spanish People, it was then that the current façade facing Bailén Street was erected.

During some works in 2019, buried remains of the basements of the demolished part of the palace appeared, in a magnificent state of conservation.