The palace was built around 1610 from the fusion of four terraced buildings of 13th-century origin. Giovanni Battista Grimaldi possibly entrusted the work to the architect Andrea Ceresola, known as il Vannone, who was already active in the nearby Piazza Banchi area.

It stands on the vico di San Luca with a façade that has remained substantially unchanged over the centuries and has recently been restored: a high ground floor, conceived as a commercial and storage area, surmounted by two superimposed noble floors.

On the roof was a sort of terraced turret, later modified in the 19th century, a place of enjoyment and at the same time visual control of the surrounding urban landscape.

Organised today into flats, it still presents rooms with very interesting decorations: on the first floor one can admire a living room with walls and vaulting entirely frescoed by Lorenzo De Ferrari, one of the protagonists of 18th-century painting.

The same artist also worked on the piano nobile where he frescoed 'The Hunting of Diana', following the example of Domenichino's work of the same name. In the same flat, there is also a small chapel with rocaille stuccoes.