Originally dedicated to grazing and agriculture, in 1493 it was entirely paved, a well (one of the few fountains to be found in Venice) being placed in the middle. It was subsequently used as the scene of many a bullfight, mass sermons and masked balls. After the 17th century the poor's market was moved here from Piazza San Marco.
Lorenzino de' Medici was assassinated here in 1548.
Facing the church are the following buildings: