The shootings depicted in Francisco de Goya's painting, "The Third of May 1808," took place in what is now known as the Plaza. During 1808, this area formed part of the Príncipe Pío hill and served as a site where French firing squads executed prisoners captured during the May 2nd uprising.
In the heart of the square stands the monument to Miguel de Cervantes, created alongside the square itself. Surrounding the monument, several beautifully landscaped areas were designed to provide a pleasant space for pedestrians to relax and enjoy.
Facing the statues of Don Quixote and Sancho Panza, there lies a rectangular pond, offering one of the most iconic views in the Spanish capital, with the Torre de Madrid and Edificio España as a backdrop. Originally, the statues of Don Quixote and Sancho Panza were positioned near the center of the pond, which was later constructed. The monument's base is made of granite, while the sculpture itself is crafted from red stone from Sepúlveda, with some additional elements in bronze.
The monument was erected to commemorate two significant events: the third centenary of the publication of the second part of Don Quixote in 1915 and the centenary of the writer's death in 1916. Architect and sculptor Rafael Martínez Zapatero designed the project, with collaboration from Pedro Muguruza Otaño. Lorenzo Coullaut Valera created the additional sculptures.
This iconic monument consists of a seated Cervantes at the center, with the statues of Don Quixote and Sancho Panza positioned beneath his feet. The ensemble was completed with the addition of the figures of Dulcinea and Aldonza Lorenzo, characters from Cervantes' novel. Reflecting the universality of Don Quixote, the monument also features representations of the five continents, all engaged in reading Cervantes' work. On the opposite side, above the fountains, stands a portrayal of Spanish Literature, dressed in period attire and holding a book in his right hand. The prominent olive trees in the square's landscaping pay homage to the La Mancha fields traversed by Don Quixote and Sancho.
Adjacent to this historic plaza stand two of Madrid's tallest buildings: the Torre de Madrid ("Madrid Tower"), reaching a height of 142 meters (466 feet), constructed in 1957, and the Edificio España ("Spain Building"), standing at 117 meters (384 feet) tall, built in 1953.
Furthermore, in this vicinity, you will also discover the House of Gallardo, an architectural gem constructed in 1911, which is widely regarded as a notable example of the city's Art Nouveau style.