In 1827, Greek merchant Z.P. Zosima donated his dacha in Presnya to Moscow University. An observatory was built on this site according to the project of the first director, Professor of Astronomy D.M. Perevoshchikov. Architect D.G. Grigoriev designed the main stone building with a round tower on a double foundation, which allowed for the installation of particularly precise astronomical instruments, as well as a two-story wooden house for professors. The observatory began its work in 1831.

Important scientific research was conducted here: the first spectral observations of celestial objects in Russia, including the Sun; the foundations of domestic astrophotometry were laid; systematic photographing of the starry sky and study of variable stars began; the Moscow gravitational anomaly was investigated, and much more. In the 1860s, a precise time service was created, and in 1931, the transmission of precise time signals via radio began, continuing even during the war years. Scientists such as B.Ya. Shveitser, F.A. Bredikhin, V.K. Tserasky, P.K. Shternberg, after whom the astronomical institute is named, and others who made significant contributions to the development of astronomy worked at the observatory.

Over the years, lectures were attended here by M.Yu. Lermontov, A.I. Herzen, M.V. Vasnetsov, the son of the artist V.M. Vasnetsov.

The specifics of the observatory's work required constant modernization and construction to accommodate new equipment. In 1859, a pavilion with a metal dome was added for a ten-inch refractor; in 1895, the "Nazarov" tower for a seven-inch refractor was erected, designed by K.M. Bykovsky; at the turn of the century, an auditorium was added to the round tower of the main building, and a rotating dome and astrograph telescope were installed on the tower itself.

In 1903, a residential building for visiting astronomers was constructed, designed by D.V. Sterligov and reconstructed by A.S. Grebenshchikov.

In 1931, the Astronomical Institute (GAISH) was established based on the observatory.

Post-war construction in Moscow significantly complicated the work of the observatory. It continued to function until the 1970s, with the last scientific observations conducted in 1990.

Currently, the building houses a scientific and educational museum, an observatory with valuable astronomical exhibits, and the largest telescope in Moscow.