Since 1898, the estate of Grand Duke Mikhail Romanov has been located in the village of Deryugino, now called the settlement of Pervoavgustovsky, in the Dmitrievsky district. He was the largest landowner in this district, owning 19,500 desyatins of land.

In his estate, Mikhail Alexandrovich created a model farm. There were sugar and distillery factories, a steam sawmill, and five flour mills. Agricultural hamlets were organized, a meteorological station operated, an experimental field was established, and there was a factory school, hospital, and almshouse named after Emperor Alexander III.

After the revolution, the prince's estate was nationalized. Only fragments of the estate have survived to this day, including the central house, which once housed the Pervoavgustovskaya school, but is now uninhabited. The factory continued to operate for a long time, but now only ruins remain. One hopes that someday the estate will be restored at least as a historical monument.

Mikhail Alexandrovich (1878-1918) was the youngest son of Alexander III. Due to his cheerful and lively character, he was his father's favorite. From 1898 to 1904, he was the heir to the throne. Mikhail served diligently in the army and was interested in theater and automobiles. Among the Grand Dukes of the Romanov house, he did not stand out particularly, but attracted attention due to his secret morganatic marriage to Natalia Sergeyevna Sheremetyevskaya, the daughter of a Moscow lawyer, who had been divorced twice.

On March 2, 1917, Nicholas II abdicated in his favor. However, on March 3, Mikhail Alexandrovich refused the throne until the Constituent Assembly decided on the form of government in Russia.

After the October Revolution, Mikhail Alexandrovich appealed to the new authorities to legalize his status in Soviet Russia to avoid misunderstandings. He was allowed to live freely as an ordinary citizen of the republic. However, in March 1918, the government decided to arrest him. Mikhail Alexandrovich was sent to Perm, where on the night of June 11-12, 1918, he was killed in a country forest by employees of the Perm militia and the Cheka. His burial place remains unknown to this day.