The monastery is located at an altitude of 880m, within walking distance from the peak of Kofinas.

It was founded in the 14th century by the monk Iosif Filagris and is dedicated to the three Holy Hierarchs. Filagris is considered one of the most important scholars of Aristotle at a time when the texts of ancient philosophers were not a preferred subject of study. His manuscripts are today kept in libraries in London, Vienna, Paris, Bucharest, and Mount Athos.

The monastery consisted of a main church, cells for the monks, a galley, a refectory, auxiliary rooms, and a workshop for copying the manuscripts (Scriptorium). The students of Filagris copied different kinds of manuscripts such as parchments and codices with religious and scientific content, as well as philosophical texts by ancient authors with a special emphasis on those of Aristotle. In this way, Filagris preserved works of world heritage and unique value.

The studying and copying of this valuable material here, suggests the existence of an early academic community in Asterousia, where the valuable knowledge of ancient Greek literature was transmitted through Filagris to his students and from them through their manuscripts to the academic communities of the time.