It was constructed in 1489 on the foundations of an older, early-14th to 15th century cathedral. Prior to the 18th century, it was a private church to Mosow's Grand Dukes and Tsars, hence the name "at His Majesty's Court." It once served as the location of the Treasury. Currently the south parapet and the first floor of the cathedral house interesting historical exhibits. Since 1993, services have been held on the Feast of the Annunciation.