The site remained empty until in 1611 a monk named Onuphrius dug a cave with the help of the landowner Artemy Mozovsky.

A new wooden Annunciation church was built, consecrated with the blessing of the Metropolitan Aphthonius of Novgorod, since the former one ceased to accommodate numerous parishioners and pilgrims.

In 1657, under Abbot Nathanael, wooden churches were replaced by stone ones: St. Nicholas' with the Annunciation chapel, and in honor of Alexander of Svir.

The icon was lost during the devastation of the monastery and the fires, and, possibly, later ended up in the sacristy of the Saint Sophia Cathedral in Veliky Novgorod.

After the closure of the monastery by the Soviet government, St. Nicholas church survived, as it was used by the local sovkhoz first as a storage of fertilizers, and later as a gym.

[1] At present, churches of Saint Nicholas and Annunciation are to be reconstructed, as well as the chapel of St. Alexander Svirsky, the rector's and fraternal buildings and the wall.