Every year, millions of eyes around the globe are fixed on the glittering New Year’s Eve Ball as it descends in Times Square, marking the transition to a new year. While the event is a symbol of celebration and hope, the building at the heart of it all, One Times Square, holds a story as fascinating as the ball drop itself.
A Building That’s Not What It Seems
Located in the epicenter of New York City’s bustling Times Square, One Times Square stands tall and iconic. However, many are surprised to learn that this building is largely vacant. That’s right—despite its prime location and worldwide recognition, much of the interior of One Times Square is unused.
Originally constructed in 1904 as the headquarters for The New York Times, the building has undergone numerous transformations. Over the years, it shifted from being a hub for journalism to housing offices and retail spaces. But today, its primary function isn’t about what’s inside—it’s all about the outside.
A Giant Billboard Earning Big Bucks
One Times Square generates its revenue not through tenants but through its massive digital billboards that cover the exterior. These high-tech advertisements bring in an estimated $23 million annually, making it one of the most lucrative advertising locations in the world. Companies are willing to pay top dollar to have their brands displayed in one of the busiest and most photographed intersections on the planet.
The Ball Drop: A Tradition That Transcends Time
The building’s most famous feature is undoubtedly the New Year’s Eve Ball. The tradition began in 1907 as a way to draw attention to the area and celebrate the new year in grand style. Over the decades, the ball has evolved from a 700-pound iron-and-wood creation lit by 100 incandescent bulbs to a dazzling sphere covered in Waterford crystal triangles and powered by energy-efficient LEDs.
Each December 31st, the ball drop attracts a live audience of over a million people in Times Square, with another billion watching from around the globe. The event is a testament to the enduring appeal of the location and its significance as a cultural touchstone.
Future Plans for One Times Square
While the building remains largely unoccupied, there are plans to revitalize its interior. Jamestown, the real estate investment and management company that owns the building, has announced intentions to create an immersive visitor experience. This project aims to give tourists a closer look at the history of Times Square, the New Year’s Eve celebration, and the famous ball itself.
A Symbol Beyond Its Walls
One Times Square serves as a reminder that appearances can be deceiving. Though its interior might be quiet, its exterior hums with activity and global significance. It’s a building that’s less about occupancy and more about presence—a unique paradox in the heart of the city that never sleeps.
As we look ahead to the next New Year’s Eve celebration, take a moment to appreciate not just the glittering ball but the building behind it—a true icon of resilience, reinvention, and the power of tradition.