Piatnitskaya Street is located in one of the oldest districts of Moscow, Zamoskvorechye. The settlement of this area opposite the Kremlin began as early as the 14th-15th centuries. The street got its name from the Church of Paraskeva Friday, which stood on the site of the current pavilion of the Novokuznetskaya metro station until 1930.

Merchant estates, inns, shops, and taverns were built on Piatnitskaya Street. In the late 19th and early 20th centuries, the first multi-story residential buildings appeared here. The building was designed in the Moscow Empire style only in the 1840s. The stone walls have been preserved since the initial construction of the site in 1790. The building was constructed as a rental house for residents with modest means, featuring small apartments, including basements. The inter-floor ceilings were made using a vaulted system, with brick arches on metal beams.

The earliest detailed plan of the property dates back to 1784, when it belonged to merchant A. I. Yermolin. At that time, there were two wooden residential buildings and a long single-story utility barn on the site. In 1787, the property passed to Moscow merchant of the 3rd guild A. I. Ivanov, who owned the neighboring plot. Three years later, it was listed under merchant A. G. Telepnev and his wife. The original layout and facade of the building corresponded to mature Moscow classicism. The construction of a two-story stone house with an arch and other utility buildings changed the previous structure. Until the early 20th century, the layout of the property remained virtually unchanged. In 1884, one of the window openings was replaced with a door, likely to create commercial premises on the first floor with access to the street.

In 1902, when the property belonged to V. V. Korolkov, a radical reconstruction of the main house was carried out according to the project of architect G. I. Popov, including changes to the street facade. The first floor housed commercial premises, while the second floor was residential. Popov developed a project for a three-story rental house, which was built along with the demolition of all utility buildings at the back of the site. The new building in the shape of the letter G adjoined the main house, and a small one-story wooden structure for storage was built along the southern boundary.

Popov created a new composition for the street facade in a late eclectic style: wide window openings appeared on the first floor to illuminate the commercial premises. The facade became asymmetrical due to a bay window on the second floor, decorated with rusticated pilasters. Space was left above the inter-floor cornice for a sign. The decor of the second floor includes plaster floral ornamentation and smooth plastered surfaces.

The partially preserved decoration of the residential rooms on the second floor dates back to the early 1900s, while the finishing of the first floor is made from modern materials. The finishing of the living spaces includes plaster cornices and ceiling rosettes. The stoves are faced with white ceramic tiles, the floors are wooden, and the stairwells are made of natural stone. The courtyard facades have modest decoration in a brick style. In the 1950s-1960s, the single-story utility building was demolished.

Today, the building houses a branch of a Moscow bank, and users carefully preserve the historical interiors, staircase, and ceremonial halls.