The small church was built starting in 1398 by the brothers Michele and Giovanni Rabatta, who intended to offer a place of worship to the inhabitants of Borgo Castello.

Completed in 1414, the building features a Venetian-style façade with a rose window, two small vertical windows, a bell gable, and a porch. The statues of Michele Rabatta and his wife Maria Bella di Castelpagano, later transformed into an Annunciation, stand on their respective coats of arms. The large wooden crucifix is ​​a copy of the one installed in the 17th century, now preserved in the nearby Provincial Museums.

Inside, there are three small Gothic apses, two of which are suspended, covered in schist (a type of sandstone), while the vault is traversed by ribs that form a star-shaped lattice structure with figurative keystones. The canvas above the altar, depicting the Assumption, dating back to the late 16th century, is attributed to Tintoretto, but is more likely the work of his son Domenico Robusti.

Overall, the building presents itself as an interesting example of the meeting between Venetian and Nordic traditions.

During the First World War, the church suffered little damage, but the houses surrounding it were severely damaged. In the following years, they were completely demolished, leaving it surrounded only by greenery.