The Monastery has been repeatedly demolished and rebuilt. After the Ottoman conquest of Constantinople, the Monastery fell into a ruinous state. In 1722, the Monastery underwent a major reconstruction by a group of wealthy Greek merchants from the island of Chios, who were based in Constantinople. The restoration included the construction of a new "katholikon" and a side chapel dedicated to Saint Paraskevi above the original Byzantine monastery. The Byzantine icons of the original monastery were transferred to the Greek Orthodox Church of Constantinople for preservation.