In the early 18th century, this area was part of the Greek settlement. This area on the banks of the Moika was a convenient spot for dropping off goods shipped by the river. There was a market square with the Finnish market (nearby Finnish Church) - a round shaped wooden structure built in 1716, and destroyed by fire in 1736. In its place, another square went up, which came to be known by the name of Apothecary Square.
The current stone Round Market biulding was erected in 1785-1790 by the architect Giacomo Quarenghi. He designed three identical facades with sculpted decorations in the form of bull heads. The market consisted of 21 stalls, which were given to private traders. Meat, vegetables, and mile were sold here. There were also warehouses there. Owing to its location, the market’s customers were often representatives of aristocracy. So the traders were interested in selling fresh and quality produce. The Round Market became an elite shop in St. Petersburg.
The family of Alexander Pushkin frequented the market as they lived across the street. It was here that the poet on his deathbed sent for cloudberry.