Located at the corner of Post and Grand, 185 Post is surrounded by high-end retailers such as Hermes, Coach, Burberry, Cartier, Prada, Bulgari and others. Coach leases space at 180 Post, which sits across the street from 185 Post and also is owned by Grosvenor, which also owns 251 Post, whose tenants include Sharper Image. First floor rents for premium locations in the Union Square area range from $350 to $450 per sf per year.

Grosvenor acquired 185 Post from Prada, which acquired the building in 1996 with plans to open a multi-level flagship at the location, according to local sources, but the project never materialized. Grosvenor hasn't revealed the purchase price, which local sources say was about $11 million. The building was originally constructed in 1907.

Grosvenor, which has a penchant for buying up properties on high-end retail streets worldwide, has completed a full renovation of 185 Post, including a seismic upgrade and new building systems. The original 1907 brick exterior was preserved by encapsulating it in layers of translucent and frosted glass.