[citation needed] The building responds to an initiative of the Infante Luis of Spain, the youngest of the sons of King Felipe V and brother of Carlos III, who took over the lordship of Boadilla in 1761, taking advantage of the economic difficulties he was going through.

The works were executed at a very rapid pace, leaving the building practically completed in 1765, as it appears on a tombstone commemorating the end of construction, placed on the main façade.

In 1974 it was declared a National Monument, being expropriated in 1998 to the last owner, Enrique Jaime Ruspoli Morenés, 19th Count of Bañares son of the Dukes, by the City Council of Boadilla del Monte, who had planned to install in its dependencies the headquarters of the European Institute of Higher Studies of Culture and Communication.

These are practically limited to the upper part, adorned with different vases and two coats of arms (corresponding to the king Felipe V of Spain), in white stone of Colmenar de Oreja.

The recurrent use of Corinthians motifs, the use of materials such as marble, bronze or stucco, and the presence of decorative elements such as garlands, angels, grapes, and flowers in the arches, pendentives, cornices, and vaults account for the ornamental profusion of this dependence.

The palace housed an important collection of works of art, from the Dukes of Alcudia and Sueca among which were pictures of Goya, Rembrandt, Murillo, Velázquez and Dürer, among other artists.

It presided over a landscaped enclosure, that disappeared with the urban expansion of Boadilla del Monte, extending on its lot at the moment a street and a square.