The building was erected between 1886 and 1888 in the style of red brick eclecticism and became part of the Moscow city slaughterhouse complex. Architect Alexander Ober developed the project in the 1880s.

The idea of constructing the urban slaughterhouse complex belonged to Moscow's mayor Nikolai Alekseev. He pursued three goals: a quick solution to sanitary problems, the centralization of meat trade, and ensuring control over livestock slaughter by city authorities.

After the construction was completed, the complex included places for slaughtering pigs and cows, leather warehouses, an albumin factory, as well as administrative buildings, barracks for workers, baths, and a laundry. The slaughterhouses were equipped with modern technologies: sewage systems, plumbing, refrigerators, asphalt floors, and partial mechanization of production. Soon after opening, the new clean slaughterhouses began supplying meat to the entire city.

This large industrial complex impressed contemporaries with its scale, representing a kind of town made up of about 50 brick buildings and towers for water storage. Throughout the 20th century, most of the buildings were lost, and the layout of the complex was disrupted. Only the one-story brick building of the meat exchange, intended for trade, auctions, and business transactions, as well as a fragment of the fence with gate pylons on Siberian Passage, has survived in its original form.

The facades of the meat exchange building are adorned with arched niches, stepped and profiled cornices, keystones, and the window openings have various shapes and sizes. A feature of red brick eclecticism is the highlighting of decorative elements in contrasting white. The fence along Siberian Passage is also made of brick.

The gate pylons have survived, decorated with deep arched and oval niches.