Its decoration by Lorenzo Monaco, dating to the 1420s, are one of the few surviving examples of International Gothic frescoes in Italy.
The chapel, created during the Gothic renovation and enlargement of the church started in the mid-13th century, was owned by the rich merchant family of the Bartolini-Salimbeni since as early as 1363.
In 1944, the retreating German forces blew up the nearby Ponte Santa Trinita, also causing damage to the frescoes.
Lorenzo Monaco was initially a miniaturist, but also worked on (wooden) panels: an outstanding example of the latter is the altarpiece in this chapel, his Annunciation.
Monaco's frescoes were inspired by the apocryphal Gospel of James, dealing with Mary's infancy and supporting the Vallumbrosan's view that she had been not naturally born by her father.