One Times Square , also known as 1475 Broadway , New York Times Building , New York Times Tower as the Times Tower , is a 25-story, 363-foot (111 m) tall skyscraper, designed by Cyrus LW Eidlitz, located at 42nd Street and Broadway in New York City.
The tower was originally built to serve as the headquarters of The New York Times, which officially moved to the tower in January 1905. Eight years later, the newspaper was moved to a new building, 229 West 43rd Street. Even after the Times, One Times Square remains a major focal point for Times Square for celebrations of the "New Year's Eve Festival," and the introduction of electronic news ticker at street level in 1928.
After its sale to Lehman Brothers in 1995, One Times Square was recreated as an advertising location to take advantage of its prime location on the square. Most of the building's interior remains empty (aside from its main tenants, Walgreens pharmacies that occupy the lower levels), while the exterior features a large number of traditional and electronic billboards. Due to the huge amount of revenue generated by its ads, One Times Square is considered one of the most valuable advertising locations in the world.
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The building, on the Pabst Hotel site, was originally completed in 1904 to serve as the new headquarters of The New York Times, which officially moved to the building in January 1905. The newspaper's owner, Adolph Ochs, also succeeded persuaded the city to change the name of the surrounding area (later known as Longacre Square) after the newspaper, into Times Square. To help promote the new headquarters, the Times hosted a New Year's Eve event on December 31, 1903, greeting 1904 by displaying fireworks from the rooftop of the building at midnight. The event was a success, attracting 200,000 spectators, and continued every year until 1907. For 1908, Ochs replaced the screen with what he thought would be a more spectacular event - the decline of a glowing ball on the building flagpole at midnight, patterned off the use of the ball time to show a certain time of day ("falling ball" is still held in One Times Square to this day, attracting an average of one million viewers each year).
In 1913, just eight years after moving to One Times Square, the Times moved its corporate headquarters to 229 West 43rd Street, which served as its home from 1913 to 2007. The Times > since moving to The New York Times Building on nearby Eighth Avenue. After leaving One Times Square, The Times retains ownership of the tower.
On November 6, 1928, an electronic news ticker known as Motograph News Bulletin (colloquially known as a "zipper") was introduced near the base of the building. The zipper originally comprised 14,800 light bulbs, with the display controlled by the chain conveyor system inside the building; individual letter elements (a form of moving type) are loaded into the frame to decipher the headlines. As the frame moves along the conveyor, the letters themselves trigger electrical contacts that turn on the external lights (zippers have been upgraded to use modern LED technology). The first title featured on the zipper announced Herbert Hoover's victory in the presidential election that day. The zipper was used to feature other headlines in that era, and the content was later expanded to include sports and weather updates as well. On the night of August 14, 1945, the famous zipper was used to announce the Japanese surrender from World War II to the crowd in Times Square.
The Times sold the building to an advertising executive and recruited designer Douglas Leigh in 1961. Leigh then sold the building to Allied Chemical in 1963. Allied Chemical greatly modified the building facade under a $ 10 million renovation, replacing granite which is complicated. and terracotta elements with marble facing. In 1974, the building was sold to Alex Parker investors for $ 6.25 million, and then to the Swiss-based investment group, Kemekod. Kemekod then sold the tower to an investment group led by Lawrence I. Linksman in 1982. Linksman promised further renovations to the building, including the possibility of using a northern face to display billboards.
After the sale of the building by Times , the zipper was operated inconsistently by various news outlets, and completely shut down between 1961 and 1965, and again from 1977 to 1986. In 1986, the ticker was revived by Newsday , which operated until December 31, 1994. The newspaper refused to renew its contract to the ticker, believing that they "[did not] get very much from that mark." financially. The publishing company Pearson PLC operates the zipper for the period commencing on December 31, 1994, to submit its role to Dow Jones & amp; Company in June 1995.
From 1990 to 1996, Sony operated the Jumbotron on the outside of the tower. In addition to its use for advertisements and news, it's also often used by late-night talk show producers Late Show with David Letterman , who can display live feeds from his studio on the screen as well.. As a cost-saving measure, Sony declined to renew lease space, leading to the abolition of Jumbotron in June 1996. Due to frequent use by the Late Show, producer Rob Burnett jokingly considered Jumbotron's removal as "a sad and sad day for New York. "
One Times Square continues to rent out a house on the ground floor: in the late 1990s, Warner Bros. retail stores occupied the first three floors. In early 2006, the floor was occupied by J. C. Penney's pop-up shop known as The J C. Penney Experience . In November 2008, Walgreens pharmacy network opened a new store in space, leasing it in a lease of $ 4 million per year. Walgreens also introduced a new digital sign to the building as part of its opening: designed by Gilmore Group and built by D3 LED, the 17,000 square foot mark (1,600m 2 ) runs diagonally on either side of the building and contains 12 million LEDs , surpassing the NASDAQ marks nearby as the largest LED sign in Times Square. The former electrical chamber in the tower basement currently serves as a "vault" for storage of items related to New Year's Eve celebrations in Times Square, including the ball itself (before 2009), parts, signboards and other memorabilia.
In September 2017, the building owner announced plans to use most of the empty space of the building. Under the proposal, a museum dedicated to the history of Times Square will be built on floors 15 through 17, and the 18th floor will contain a new observatory. The ground surface will also be renovated to provide an expanded entrance to Times Square-42nd Street New York City Subway Station, which is directly under the building. The work will be completed in the fall of 2018.
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Billboard
In 1992, the owner of One Times Square filed for bankruptcy protection. In March 1995, One Times Square was sold to Lehman Brothers financial services company for $ 27.5 million. New owners feel that it would not be cost effective to hire new tenants in the tower because of the massive renovation costs needed to make it suitable for tenants compared to the relatively small rental income for which the limited floor space would have been brought. Instead, they decided to market the tower as a location for advertising to take advantage of prominent locations inside Square. The entire One Times Square exterior above the ticker is modified to add a lattice frame to attach a billboard sign.
Throughout 1996, the first One Times Square electronic billboard was installed, such as, Cup Noodles advertising boards with steam effects added to the front of the tower, then accompanied by an animated Budweiser sign. In October, a 55-foot video screen sponsored by ITT Corporation was introduced to the top of the tower, which will feature video ads and community service announcements. In December 1996, a Panasonic screen operated by NBC known as Astrovision was introduced as a substitute for Sony Jumbotron at the base of the tower.
Lehman Brothers sold One Times Square in 1997 to Jamestown, L.P. for $ 117 million. Sales-related filings reveal that billboards in towers have generated net revenues of $ 7 million annually, representing a 300% profit. With the growth of tourism and high traffic in the Times Square area (with an annual average of more than 100 million pedestrians - in addition to its excellence in media coverage of New Year's celebrations, seen by the vast audience each year), the annual income from signs of growing to over $ 23 million in 2012 - rivaling Piccadilly Circus in London as the world's most valuable public advertising space.
Advertiser
From 1996 to 2006, Nissin Foods operated Bill Noodles boards with smoke effects (a well-known effect used by other Times Square billboards, like the Camel Cigarette sign). Cup Noodles bills were replaced in 2006 by a General Motors billboard featuring Chevrolet branded watches; however, as part of a reduction due to GM's bankruptcy and reorganization, the Chevrolet Clock was removed in 2009 and eventually replaced by the current Dunkin 'Donuts display.
On August 19, 1998, the Discover Card replaced ITT Corporation as the operator and top screen sponsor of One Times Square as part of a ten-year deal. The deal comes with the announcement that Discover Card will be the official sponsor of the New Year's celebration of the New Year's Times Square.
In 2006, News Corporation (now 21st Century Fox) replaces NBC as the operator and sponsor of Astrovision screens. In 2010, Sony returned to One Times Square by replacing the Panasonic News Corp screen with a new high-definition LED display.
In December 2007, Toshiba took over One Time Square's top spot sponsor from Discover Card in a 10-year lease period. Throughout 2008, upgrades started to the top of One Times Square; including the installation of the new high-definition Toshiba LED display (known as ToshibaVision), and a redesign of the roof to accommodate the larger New Year's Eve ball, which is the year-round fixture from the start of the building in 2009.
On November 23, 2017, Toshiba announced that it would end the One Times Square sponsorship in early 2018, citing ongoing cost-cutting measures such as the sale of its Visual Solutions subsidiary to Hisense. As of May 2018, the mark is in the process of being deleted.
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Source of the article : Wikipedia
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