The monastery is located south of the cape of Faneromeni and the bay of Trachilas, next to the gorge of Agii Pantes and near the coast.
Along the gorge there are caves that were used as hermit dwellings.

It is not clear when the monastery was founded. The main church (katholikon) has two apses and is dedicated to the Dormition of the Virgin Mary and Agios Georgios. The wall paintings that survive date to 1455 and are not well preserved.

The monastery has a few old cells, a cave church where the byzantine icon of the Virgin Mary was found, an old olive press with a characteristic arch and some auxiliary spaces and buildings of the 18th century. In those stay the pilgrims today, especially for the celebration of the 15th of August.