The church was commissioned by a Moscow merchant Ivan Syrkov in 1508. Syrkov founded a successful merchant dynasty in Novgorod that wielded significant political power as well. The church is a three-story, one-belfry building with four internal pillars. The lower level of the church was used as a large warehouse. During the 16th century, the basement of the church held some of Ivan the Terrible's coffers.

Due to an amazing temple acoustic in a concert hall, it is perfect for holding classical, academic, sacred concerts and folklore programs. There are meetings, seminars, round tables, exhibitions held in the church.

In 2017 the ethnographic interactive exhibition "Work for the Hands, Holiday for the Soul" (from the interactive fund of Vitoslavlitsy Open-air Museum of Wooden Architecture) was opened in the building.

At the exhibition the visitor gets acquainted with the culture of fairs, the traditional crafts and crafts of the Novgorod peasants of the second half of the XIX - early XX centuries.