The Knyaginyn Assumption Monastery was founded in 1199 by Princess Maria, known in monasticism as Martha, the wife of Grand Prince of Vladimir Vsevolod Yuryevich. In 1311, the monastery was ravaged by Tatars but was restored in the early 16th century. In 1855, it suffered from a fire, and in 1865 it was rebuilt again. The cathedral of the monastery is dedicated to the Assumption of the Mother of God and has chapels for the Annunciation and the Nativity of Christ. The relics of Abraham of Bulgaria are located here, and Princess Alexandra, the first wife of Alexander Nevsky, and Princess Vassa are buried here.

Lovers of ancient Russian art will find much of interest here. The walls are painted from ceiling to floor, including images of the Last Judgment, the twelve feasts, symbols of faith, and the Akathist of the Mother of God. The Akathist begins on the southern wall near the iconostasis and continues in two rows to the western wall, where the traditional depiction of the Last Judgment is located, and ends on the northern wall, also in two rows.

Unlike the ancient Vladimir tradition, the facade of the cathedral is not adorned with carvings. Inside, the frescoes, created in the mid-17th century by Moscow masters under the guidance of Mark Matveev, are well preserved. Among the images on the pillars, the figure of Prince Andrei Bogolyubsky is particularly interesting.