In the year 1529, the Moscow merchant Dmitry Ivanovich Syrkov, son of Ivan Syrkov, commissioned the construction of the Church of Procopius. The church was built on the territory of Yaroslav's Court, on the site of the original stone church constructed in 1359. The patron aimed not only for a pious deed but also for a reliable shelter in case of war, civil unrest, or fire. Therefore, like the Church of the Myrrh-Bearing Women, the temple has three floors.

A basement, referred to in ancient chronicles as a 'cellar,' was arranged beneath the building, in addition to a ground-level undercroft. The number of stories is not expressed on the facade, which is characteristic of 15th-century churches. It is a four-pillar, cross-domed structure with a single dome. The influence of Moscow architecture is evident in the pointed finish of the central section of the facade, the decoration of the drum, and the pointed arches of the western annex. As before, there are three apses instead of one, which is also related to Moscow architecture.

The Church of the Intercession is only similar to Novgorod architecture in its overall composition and eight-pitched roof. The older brick church had more pronounced geometric shapes. In the western wall of the current church, there is a narrow internal staircase leading to the second floor. In the deacon's room, in 1552 or 1565, there was an altar of Saint Alexander of Svir. The church's frescoes date back to the 16th century, as confirmed by fragments of painting on the southwestern pillar. In ancient times, the church suffered from fires twice: in 1542 and in 1709.

In the 19th century, a western porch was added, the ancient narthex was raised, the northwestern pillar was dismantled, and the eastern pillars were rebuilt. From 1953 to 1955, under the guidance of architect-restorer Tamara Viktorovna Gladenko, the reconstruction of this architectural monument was carried out. The church features beautiful proportions, plasticity, and restrained decor. Inside, on the southwestern pillar, monumental 16th-century painting has been preserved. Here, for the first time in Novgorod, a structure of elevated springing arches, characteristic of the architecture of Pskov and Moscow, is encountered. Due to its captivating proportions and restrained decor, the structure impresses with expressiveness, simplicity, and modesty.