Raoul Gustav Wallenberg (1912-c. 1947) was a Swedish humanitarian who saved the lives of approximately 100,000 Hungarian Jews threatened by Nazi persecution and execution during World War II.

Wallenberg was born on August 4, 1912 to a prominent, wealthy family in Stockholm. He moved to the U.S. to study architecture at the University of Michigan in 1931, and then worked abroad before returning to Sweden in 1936. There he worked for a company owned by a Hungarian Jew, learning Hungarian after that country adopted anti-Jewish policies in 1938 so that he could travel to Budapest in place of his employer.

In 1944 a U.S. War Refugee Board representative identified Wallenberg as someone who could lead efforts to rescue Jews in Hungary with assistance from the U.S. Department of State. He used his drafting skills to design counterfeit Swedish passports and distributed them on trains headed toward concentration camps. He purchased homes and painted them the colors of the Swedish flag, becoming neutral sites where Jews found safety. He also stocked warehouses with food for both rations and for bribes for Nazi officers.

Wallenberg left Hungary on January 17, 1945 to meet with Soviet commanders about relief plans. He was reported missing soon after. A Soviet counterintelligence agency reportedly brought him to Moscow on suspicion of espionage. The Soviets claimed not to know what had become of him, but in 1957 the government shared documents that said he had died in a Russian prison in 1947 from a heart attack. Though the circumstances of his death remain unclear, it is widely believed that he was executed by the KGB. He was only formally declared dead in 2016.

In October 1981, Wallenberg was made an honorary citizen of the United States. That December, City Council Member Arthur Katzman sponsored the bill to name this sitting area after Wallenberg. The site was dedicated in Wallenberg's honor on April 25, 1982.

Several other locations are named for Wallenberg across the city, including streets in Brooklyn and the Bronx, a playground in upper Manhattan, and Wallenberg Forest in the Bronx.