It is one of the few remains of the once-expansive area of monasteries that dominated the oudezijde ("old side") of town in the Middle Ages.

The monastery was devoted to Mary of Bethany (Mary Magdalene) and, at its largest extent, encompassed the entire area between Bloedstraat and Oude Hoogstraat streets to the north and south and Oudezijds Achterburgwal and Kloveniersburgwal canals to the west and east.

The name "Koestraat" ("Cow Street") is a reminder of the cattle that were raised by the nuns as livestock for the meat served at banquets of the schutterijen (citizen militia companies).

[2] The Klooster van Sinte Maria Magdalena van Bethaniën ("Monastery of Saint Mary Magdalene of Bethany") was founded in the 1450s and was one of a number of monastic complexes along the oudezijde ("old side") of town, directly beyond the city walls along Kloveniersburgwal canal.

In 1462, the chapter of the Hofkapel in The Hague granted the monastery the privilege to build its own chapel with a churchyard and to have its own rector or chaplain.

The monastery became popular with the rich elite and the poor women that originally inhabited the monastery were gradually replaced with well-off nuns and proveniers (elderly women who had paid a one-time sum for lifelong room and board).

Their duties include raising cattle as livestock for the meat served at banquets of the schutterijen (citizen militia companies).

[2] In 1594, the Latin school for the oudezijde ("old side") of town was relocated to the nave of the former monastery chapel.

The only surviving section of the building is the northern wing in Barndesteeg alley, as well as some wall fragments on the former Huidenvetterssloot canal.