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    1 Times Square

    1 Times Square
    New York, NY 10036
    Office, Retail, Leasing/Rental

    Jamestown Properties One Times Square, which is best known as the home of the New Years Eve ball drop, is a largely vacant building but it still rakes in over $23 million annually from its lucrative advertising signage accounting for more than 85 percent of its revenues.

    The 363 foot tall, 25 -story building was completed in 1905. During the 1960's, this Gothic Styled tower was stripped to the steel and reclad, resulting in a modernist curtain wall that is now hidden behind all of the advertising.

    The building is unoccupied above the third floor but its owners get enough revenue from the billboard rent. Its exterior features a large number of traditional and electronic billboards and the building is one of the most valuable advertising locations in the world.

    Lehman Brothers sold One Times Square in 1997 to the Jamestown Group for $117 million. Filings related to the sale revealed that the billboards on the tower had been generating a net revenue of $7 million yearly, representing a 400% profit. Annual revenue from the signs grew to over $23 million by the year 2012rivaling London's Piccadilly Circus as the most valuable public advertising space in the world.

    • Address 1 Times Square
    • neighborhood Midtown
    • borough Manhattan
    • owner Jamestown Properties
    • owner entity JAMESTOWN OTS, L.P.
    • height in feet 363
    • floors 25
    • Year Built 1908
    • square feet 111,653
    • block and lot 1-00995-0001
    • BIN 1022581
    • Event Office Leasing
    • Address 30 Times Square
    • Neighborhood Times Square
    • Borough Manhattan
    • Square feet 10,040
    The luxury beauty brand inked a lease in Times Square.
    • Event Retail Leasing
    • Address 4 Times Square
    • Neighborhood Times Square
    • Borough Manhattan
    • Square feet 45,600
    • Publication Date 05/07/2018
    • Event Date 04/24/2018
    • Party 1 Durst Organization
    • Party 2 Well&
    The amenity brand inked a lease at its parent company's, the Durst Organization, Times Square building.

    Clockwise from top left: 655 Third Avenue, 11 Times Square and 210 East 46th Street The retail leasing summer slowdown in New York City has Clockwise from top left: 655 Third Avenue, 11 Times Square and 210 East 46th Street The retail leasing summer slowdown in New York City has...

    CBRE did have some particularly large minority-stake deals that were not included in the ranking, such as the sale of a 44 percent stake in Trinity Church’s $3.5 billion portfolio for $1.6 billion and SJP Properties’ sale of a 49 percent interest in 11 Times Square for an undisclosed sum â€' both were purchased by Norges Bank Investment Management, Norway’s sovereign wealth fund...

    Meanwhile, CVS took 25,000 square feet at 3 Columbus Circle, while grocer Jubilee Marketplace inked a deal for 25,000 square feet at 5 East 17th Street, in the Union Square area. And chain restaurant Señor Frogs signed on for 20,977 square feet at SJP Properties’ 11 Times Square in February, according to published reports...

    Even the Midtown submarkets thought to be vulnerable, such as Sixth Avenue, have “demonstrated a lot of resilience,” Bernstein said. A number of notable leases were signed there last month, including publisher Hachette Book Group’s deal to take 137,000 square feet at Vornado Realty Trust’s 1290 Sixth Avenue. Hachette will fill a large chunk of the void left behind by Microsoft, which is relocating to the spec office tower 11 Times Square...

    Another large deal executed last month was Microsoft’s long-anticipated move from 1290 Sixth Avenue to 11 Times Square, the 40-story tower at Eighth Avenue and 42nd Street...

    The Seattle, Wash.â€'based computer and software giant Microsoft, which owns search engine Bing among other websites, has leased a small, 22,000-square-foot space at 641 Sixth Avenue, on the corner of 20th Street. But it’s reportedly still in discussions to either stay at its current location, 1290 Sixth Avenue (where it now has about 175,000 square feet), or move to as much as 400,000 square feet at 11 Times Square...