A long-vacant historic property on West 42nd Street that has been leased for four years could finally re-open soon. The former Times Square Theater at 217 West 42nd Street was leased to Marc Ecko Enterprises back in 2004. The urban apparel retailer is said to be on its third team of architects, whose plans for a four-story store have been approved by the city-state Historic Preservation Committee and will be filed with the city soon. The property, between Seventh and Eighth avenues, is managed by the nonprofit New 42nd Street, which oversees the block’s historic theaters. The Eugene DeRosa-designed theater opened in 1920 and closed in the 1980s.