The Annunciation Monastery is on the high bank of the Oka, near the place where the river falls into the Volga river. It was founded in 1221 and is considered the oldest monastery in Nizhny Novgorod.
In 1221 not only the monastery was founded, but, actually, Nizhny Novgorod itself. The city was laid down by Vladimir Vsevolodovich, Grand Duke of Vladimir and Suzdal, at the confluence of the Oka and Volga. Almost immediately after its foundation, in 1229, the city was attacked by the Prince Purgas of Mordovia. The monastery was completely burned down and ceased to exist for a hundred years. It was restored only in 1370 as the House of Moscow Metropolitans.
After its restoration the Annunciation Monastery received the status of a stauropegial monastery, that is, the one subordinated directly to the Metropolitan of Moscow, and after 1589 to the Patriarch. The stone Church of the Annunciation was built in 1371, immediately after the restoration of the monastery. The rest of stone temples were built in 17 century.