Makarova Embankment between Birzhevaya Square and Smolenka River Embankment, on Vasilievsky Island, on the left bank of the Malaya Neva. In the 17th century, there was a settlement of fishermen on this site. In the first half of the 18th century, several stone buildings for Peter the Great's confidants - Count P.M. Apraksin, the Lopukhins, S.F. Klokachev and K.A. Naryshkin, were constructed on the ground of present Buildings 2-4.

On the site of Buildings 6-8, the stone building of Gostiny Dvor was constructed in 1722-35 and demolished in the 1900s. In the 18th to the first half of the 19th centuries, berths and warehouses of the port were located along the embankment. In 1809-10, the granite embankment was built as far as Birzhevaya Line, in 1824-32, It was extended up to Tuchkov Bridge, that joins Makarova Embankment and Petrogradskaya Side. In 1809, the granite slope with lions was built by architect I.V. Roginsky. In 1826-32, the northern storehouse of the Stock Exchange appeared. In 1829-32, the Custom House was erected. In Building 6 Pavlov Scientific Research Institute of Physiology is quartered.