The building on Kontraktova Ploshcha (the Square of Contracts) is a modern reconstruction of the first all-brick church of the Pyrohoshcha Dormition of the Mother of God Church in Kyiv founded in the 30s of the 12th century by the Prince Mstyslav Volodymyrovych.
After the Mongol-Tatar Yoke, the church experienced a series of destructions and reconstructions. In the late 20th century, the temple was recreated on the foundations, in the forms of the 12th century in the Old Russian style. According to one of the versions, the Church is dedicated to the Pyrgos icon brought from Constantinople; according to another one, it was built on the money of merchants who sold bread (pie).