At the beginning of Nikolskaya Street, near the Kazan Cathedral, trade has been conducted for a long time. By the end of the 19th century, this area was built up with various wooden stalls and belonged to the Ministry of Internal Affairs.

In 1899, the area was leased by prominent Moscow entrepreneurs for the construction of the New Trading Rows. The project for the Novo-Nikolsky, or Iversky, Rows was developed by Lev Kekushev with the participation of S. Shutsman.

By 1903, the interior finishing of the building was completed, and the Nikolsky Rows opened for customers. They were intended for the wealthiest merchants and included eight large stores, each with a separate arched entrance from Nikolskaya Street. The stores were divided by solid walls, and the basement housed storage facilities. Along the inner side of the rows were metal galleries connecting the stores.

The building was designed in the Art Nouveau style. The central dome harmonized with the bell tower of the Zaikonospassky Monastery. Huge display windows with oak frames, smooth lines of the facade, decorative masks, and small columns of the third-floor windows gave the trading rows a look of wealth and luxury. At first glance, the building appeared symmetrical, but upon closer inspection, an opening closer to Red Square stood out. The entrance to this part of the building led to the main staircase connecting three floors, and above the entrance was the only massive balcony in the building.

Under the upper cornice, you can see Kekushev's signature lions: lion masks adorn all of the architect's buildings.

During the Soviet era, the building was used for administrative purposes, with a savings bank and a reception point on the first floor, and in the early 1990s, a cafe operated here.