One Times Square

One Times Square. It is a slender 25-story skyscraper on the southern end of the eponymous Times Square in Midtown Manhattan, renowned globally as the focal point of the annual New Year's Eve ball drop. Though no longer a major office address, its facade is entirely enveloped in lucrative digital advertising, making the structure itself a secondary feature to the colossal, illuminated signs that define the iconic Crossroads of the World. The building's primary function is as a flagship advertising platform and broadcast site for events like the Dick Clark's New Year's Rockin' Eve television special.

History

The site was originally occupied by the Pabst Hotel, a prominent establishment in Longacre Square, before being acquired by The New York Times publisher Adolph Ochs. To mark the newspaper's relocation and the area's subsequent renaming to Times Square, publisher Adolph Ochs commissioned this new headquarters, designed by architect Cyrus L. W. Eidlitz and constructed by the George A. Fuller Company. It opened in 1904, with a celebratory fireworks display on its roof initiating the tradition of the New Year's Eve celebration. The newspaper moved to West 43rd Street in 1913, and the building later became known for housing the headquarters of the Allied Chemical corporation after a major 1960s renovation stripped its original ornate facade. Throughout the late 20th century, it declined into a state of vacancy and neglect, famously described as "the most expensive piece of vacant real estate in the world," before its reinvention as an advertising vessel.

Architecture and design

Originally designed in a distinct Beaux-Arts style by Cyrus L. W. Eidlitz, the building featured a limestone and terracotta facade adorned with sculptural details celebrating the publishing industry. Its most notable original architectural feature was a crowning cupola, which was illuminated at night. However, in 1963, to attract Allied Chemical as a tenant, the building underwent a drastic modernization overseen by Albert C. Martin and Associates. This renovation removed the ornate decorations and the cupola, sheathing the structure in a plain white marble and glass curtain wall, fundamentally altering its aesthetic to a minimalist International Style. This redesign created the flat, sheer walls that would later become the perfect canvas for the massive electronic signs that now define it.

New Year's Eve celebrations

The building is internationally synonymous with the New Year's Eve ball drop, a tradition begun in 1907 by The New York Times to replace the earlier fireworks display. The event is organized by the Times Square Alliance and broadcast worldwide by programs like Dick Clark's New Year's Rockin' Eve on ABC. The descent of the illuminated Times Square Ball from a flagpole atop the building is watched by hundreds of thousands of spectators in the square and over a billion via global broadcasts from networks like CNN and Fox News. The current ball, designed by Waterford Crystal, is a sophisticated sphere adorned with thousands of LED lights and remains the central icon of the celebration, marking the final minute of the year in the Eastern Time Zone.

Advertising and signage

The building's primary economic function is as a digital advertising landmark, with its facade entirely leased to display spectacular signs. Major brands like Coca-Cola, Samsung, and Toyota have paid premium rates for the dominant signage positions. The most prominent is the large curved digital screen at the base, often called the "Coca-Cola Corner." The signage is managed by entities like Sherwood Outdoor and generates tens of millions of dollars in annual revenue, far exceeding any potential income from office tenancy. These bright, animated displays are a key component of the visual spectacle of Times Square, contributing to its status as a major tourist attraction depicted in countless films and television shows.

Ownership and redevelopment

After decades under various owners, the property was purchased in 1997 by the real estate firm Jamestown, L.P., which recognized its value as an advertising platform. Recent plans, developed with architectural firm OMA, propose a dramatic $500 million redevelopment to add observation decks, a museum, and retail spaces while preserving the iconic signage. This project, which would require approval from New York City agencies like the Department of City Planning, aims to transform the address from a mere billboard into a modern experiential destination, capitalizing on its unparalleled location and global recognition within the bustling theater district of Broadway.

Category:Skyscrapers in Manhattan Category:Times Square Category:Buildings and structures completed in 1904