It is stated that the building was damaged in the fire that affected the Balatkapı area in 1729.
According to its first inscription, the church was rebuilt during the patriarchate of Constantios I (1830–1834) and was reopened for worship on 17 September 1833.
According to its second inscription, the church was restored in 1999 during the patriarchate of Bartholomew I.
Prominent Features:
The church belongs to the Greek Orthodox Patriarchate of Istanbul.
The building is also referred to as the Ayios Stratis Greek Orthodox Church.
It is stated that, as a unique example, the church contains two different holy springs: the Aya Nikolaos Holy Spring and the Zulopetra Holy Spring.
It is recorded that the Aya Nikolaos Holy Spring was registered on 10 November 1973 and is among the holy springs registered together with the church.
It is stated that, on the north side of the courtyard, there is the section where the Zulopetra stone is located; on the south side, adjoining the apse, there is the Aya Nikolaos Holy Spring, and it is also noted that the Balat Private Greek School, no longer in use today, stands in the courtyard.
According to legend, the Zulopetra was brought to Constantinople during the pandemic of 1263, was visited together with the holy spring for healing purposes, and is described as the only perforated stone in Istanbul regarded as sacred and healing.