Information on the location
Gresham Palace is a large hotel located across from the River Danube in Budapest, Hungary. Construction of the building began in 1904, and it was completed in 1906, eventually being opened the year following completion. It is currently under ownage of Four Seasons Hotel.
Appearance in the rap battle
This is the location where James Bond briefly rapped during the line, "Spell my name! The ladies wanna B on D!" He is seen in front of the palace surrounded by playing cards, explosions, and silhouetted women, referencing the James Bond title sequences. While the location has no relation with Bond's films, it is a likely substitute for the Casino Royale.