The church is closed due to the restoration work.

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St. Parasceva was born in the 3rd century A.D. in a rich Roman family. Being young she became a Christian and gave a vow of celibacy. During the persecution of Christians the Romans compelled matrimony from her. She refused and was beheaded.«Parasceva» stands for Greek “Friday”, thus, she is called St. Parasceva the Friday in Russia.

The church was built in 1207 with the money of foreign merchants and consecrated in the name of St. Parasceva the Friday, because she was believed to be the patron saint of trade. The upper part of the church was rebuilt several times; however, the church has preserved some remarkable features of facade decoration which were untypical of Novgorodian architecture. Originally, the facades had trefoil arches, which became traditional for Novgorodian churches in the 14th – 15th centuries.