The religious house was originally founded in the northern part of Pereslavl-Zalessky in 1010, even before the establishment of the city that maintains a prominent place in Russia's Golden Ring of historic towns. The monastery was called by the name of the Pereslavl miracle-worker Nikita, the martyr who chained his limbs and spent the end of his days in an underground cell on the monastery grounds to punish himself for his sins. During the reign of Ivan the Terrible who devoted much of his time to this place, the monastery was rebuilt in stone.
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