In the 15th century, a Cannon House was built on the steep bank of the Neglinnaya River, which was transformed into the Cannon Yard after the fire of 1488. This structure was a brick conical tower surrounded by a fence.

For almost two and a half centuries, Russia's military power was forged here. It was in this yard that the famous Tsar Cannon, also known as the 'Russian Shotgun', was made.

In 1739, the Cannon Yard, by then known as the 'New Field Artillery Yard', was moved to the Red Pond. The site of the Cannon Yard on Rozhdestvenka was occupied by an artillery warehouse known as the Artillery Depot. By the early 1800s, all buildings of the former Cannon Yard were dismantled. After the fire of 1812, the area was planned and put up for sale.

By the end of the 19th century, the plot at the corner with Cannon Street, previously known as Sofiyka Street, belonged to V. A. Argamakova and then passed to Princess Olga Andreyevna Turkestanova. The house at this location housed the Viennese café of the Austro-Hungarian community 'Alpenrose', later renamed 'Alpine Rose'. This establishment was popular among the Germans of Moscow and the artists of the Maly Theatre.

The next owner of the plot was the insurance company 'Salamandra'. In 1910 and 1913, architect Viktor Andreyevich Velichkin completely rebuilt the old building. The facades of the new building were designed in the neoclassical style with elements of Empire, including an Ionic corner semi-rotunda at the second floor level, topped with a balcony. The 'Savoy' hotel opened here. An identically named café operated at the hotel, while a restaurant 'Alpine Rose', remodeled by engineer P. P. Wisnevsky, a master of modern style, was located in the neighboring building. The interiors of the café were decorated in the rocaille style by artist A. A. Tomashko.

During the Soviet years, the hotel continued to operate. It was in the 'Savoy' restaurant that events unfolded leading to the arrest of Fox in the novel by the Vainer brothers 'The Era of Mercy', which was adapted into the film 'The Meeting Place Cannot Be Changed'.

In the 1950s, the hotel was renamed 'Berlin'. The 'Berlin' restaurant (formerly a pre-revolutionary café) was considered one of the best in Moscow. A feature of the restaurant was a small pool with a fountain, in which live fish swam. Guests could choose a fish, which would then be prepared and served at the table.

In 1987 and 1989, the building was restored, and the hotel was returned to its former name 'Savoy'. It is now a first-class hotel, where the restaurant still features a fountain.

The building has the status of a historically valuable urban-forming object.