The income house, originally five stories high, was built in 1912 according to the design of one of Moscow's most famous architects, Olgerd Gustavovich Piotrovich.

Particular attention is drawn to two stucco friezes that run along the facade of the building between the second and third, as well as the fourth and fifth floors, visually dividing it vertically. The lower frieze features plant patterns interspersed with an unusual for Moscow scene: a naked woman with a child, swimming on dolphins. The upper frieze is also adorned with an image of a naked woman with a putto, blowing a horn.

Despite the similarity of the themes and execution style of the friezes to the aesthetics of Art Nouveau, their placement, static nature, and detailing of the plant ornament indicate the neoclassical style of the building.

The owner of the building with these remarkable stucco friezes was Prince Nikolai Nikolaevich Obolensky. He was a member of the Moscow City Duma and dealt with issues of public sobriety. The apartments on the boulevard were rented out, while the prince lived in his house on Sivtsev Vrazhka.

During the Soviet era, this former income house of Prince Obolensky was home to Yuri Efremov, a well-known Moscow scholar, geographer, and poet. Although his poems did not gain wide recognition, his main legacy remains the book "Names of Moscow Streets," which he himself referred to as a "memoir-research."

At the turn of the 20th and 21st centuries, the building was extended by four floors and transformed into a Class A business center. The reconstruction work was led by G.B. Suzdalyev.