{{Short description|Office skyscraper in Manhattan, New York}} {{good article}} {{Use American English|date=May 2024}} {{Use mdy dates|date=June 2025}} {{Infobox building | name = One Astor Plaza | alternate_names = Viacom Building (1990–2019)<br>ViacomCBS Building (2019–2022)<br>Paramount Building (2022–2025) | image = Times Sq Feb 2022 19.jpg | image_size = 250px | caption = | location = 1515 Broadway, New York, New York 10036 | mapframe-wikidata = yes | coordinates = {{Coord|40|45|28|N|73|59|11|W|type:landmark_region:US-NY|display=inline,title}} | status = | construction_start_date = 1969 | completion_date = 1972 | opening_date = May 26, 1971 | building_type = Office | antenna_spire = | roof = {{convert|745|ft|m|abbr=on}} | top_floor = {{cvt|655|ft}} | floor_count = 54 | elevator_count = | cost = | floor_area = {{convert|1,721,814|ft2|m2|-3|abbr=on}} | architect = Der Scutt | structural_engineer = | main_contractor = | developer = Sam Minskoff & Sons, Inc. | owner = SL Green Realty (53%), Allianz (47%)<ref name="trd-2017-11-14"/> | operator = | references = <ref name="Emporis"/><ref name="The Skyscraper Center 2016" /> }} '''One Astor Plaza''', also known as '''1515 Broadway''' and formerly the '''W. T. Grant Building''', is a 54-story office building on Times Square in the Theater District of Midtown Manhattan in New York City, New York, U.S. Designed by Der Scutt of Ely J. Kahn & Jacobs, the building was developed by Sam Minskoff and Sons. One Astor Plaza occupies a site bounded by Broadway to the east, 45th Street to the north, Shubert Alley to the west, and 44th Street to the south. The building is named after the Hotel Astor, which had occupied the site from 1904 to 1967. SL Green Realty and Allianz own One Astor Plaza, which served as the corporate headquarters of Paramount Global until 2025. The building still serves as a major office for Paramount Skydance.
The building consists of a low base that occupies most of the site, as well as a {{convert|745|ft|adj=mid|m|-tall}} tower section with smaller floor areas. The facade is designed in glass and stone, with large signs. The upper stories have dark glass windows, with stone mechanical shafts on all sides of the tower. The lower stories contain a public passageway and retail at ground level, as well as a lobby and Paramount Global's Studio 1515 at the second story. The building was constructed with two theaters: a Broadway house called the Minskoff Theatre on the third floor, as well as a cinema in the basement (now an event venue called Palladium Times Square).
Sam Minskoff and Sons bought the Hotel Astor site in 1966 and initially proposed a 50-story tower without any theaters. Following a series of discussions, the Minskoff Theatre was included in exchange for additional floor area. Construction began on October 10, 1968, and the first tenants moved into the building in May 1971, with the building being completed the next year. One Astor Plaza was originally named after its anchor tenant, the W. T. Grant retail chain, which only occupied the space until 1976. Tishman Speyer and the Equitable Life Assurance Society bought One Astor Plaza in 1984. Tishman Speyer sold its ownership stake in 1990, just before Equitable filed a bankruptcy proceeding against the building, which was withdrawn after a lawsuit. Viacom leased space at One Astor Plaza starting in 1990, and its successors gradually came to occupy most of the building. SL Green Realty has owned or co-owned the building in some capacity since 2003.
==Site== One Astor Plaza is at 1515 Broadway, along Times Square, in the Midtown Manhattan neighborhood of New York City, New York, U.S.<ref name="aia5">{{cite aia5|pages=297}}</ref><ref name="ZoLa">{{Cite web|title=1515 Broadway, 10036|url=https://zola.planning.nyc.gov/l/lot/1/1016/36|url-status=live|archive-url=https://web.archive.org/web/20220216021627/https://zola.planning.nyc.gov/l/lot/1/1016/36|archive-date=February 16, 2022|access-date=March 25, 2021|publisher=New York City Department of City Planning}}</ref> While the building carries a Broadway address, it is actually on the west side of Seventh Avenue.<ref name="ZoLa" /> The section of Broadway and Seventh Avenue between 43rd and 45th Streets is officially listed on city maps as "Times Square",<ref name="nyt-2005-06-12">{{Cite news|last=Pollak|first=Michael|date=June 12, 2005|title=Times Square Shuffle|language=en-US|work=The New York Times|url=https://www.nytimes.com/2005/06/12/nyregion/thecity/times-square-shuffle.html|url-status=live|access-date=November 17, 2021|archive-url=https://web.archive.org/web/20211117011948/https://www.nytimes.com/2005/06/12/nyregion/thecity/times-square-shuffle.html|archive-date=November 17, 2021|issn=0362-4331}}</ref>{{efn|As the two roads intersect at a very shallow angle, they are nearly parallel through Times Square. Broadway is west of Seventh Avenue to the north of 45th Street and east of Seventh Avenue to the south of 44th Street.<ref name="nyt-2005-06-12" /> Because Broadway between 42nd and 47th Streets was closed in the 2010s, the Paramount Building only faces Seventh Avenue.<ref name="Warerkar 2017" /><ref name="Fishbein 2017" />}} but the adjoining section of Broadway was converted into a permanent pedestrian plaza in the 2010s.<ref name="Warerkar 2017">{{cite web|last=Warerkar|first=Tanay|date=April 19, 2017|title=See how Snøhetta's transformation of Times Square made it more pedestrian friendly|url=https://ny.curbed.com/2017/4/19/15358234/times-square-snohetta-before-after-photos|url-status=dead|archive-url=https://web.archive.org/web/20211101195300/https://ny.curbed.com/2017/4/19/15358234/times-square-snohetta-before-after-photos|archive-date=November 1, 2021|access-date=November 1, 2021|website=Curbed NY}}</ref><ref name="Fishbein 2017">{{cite web|last=Fishbein|first=Rebecca|date=April 19, 2017|title=Photos: Times Square's Transformation Into A Pedestrian-Friendly Tourist Fun Zone Is Complete|url=https://gothamist.com/news/photos-times-squares-transformation-into-a-pedestrian-friendly-tourist-fun-zone-is-complete|url-status=live|archive-url=https://web.archive.org/web/20211101195259/https://gothamist.com/news/photos-times-squares-transformation-into-a-pedestrian-friendly-tourist-fun-zone-is-complete|archive-date=November 1, 2021|access-date=November 1, 2021|website=Gothamist}}</ref> One Astor Plaza's rectangular land lot is bounded by Times Square to the east, 45th Street to the north, Shubert Alley to the west, and 44th Street to the south. The lot spans {{Convert|65,764|ft2|m2}},<ref name="ZoLa" /><ref name="PA p. 76">{{harvnb|Progressive Architecture|1970|ps=.|p=76}}</ref> with a frontage of {{Convert|200|ft}} on Times Square and {{Convert|327|ft|0}} on 44th and 45th Streets. Shubert Alley, which covers {{Convert|6400|ft2}} of the land lot, is a private passageway shared with the Shubert Organization.<ref name="ZoLa" /> The intersection of Times Square and 44th Street, directly outside One Astor Plaza, was renamed after Viacom founder Sumner Redstone in 2021.<ref name="Garber 2021">{{cite web | last=Garber | first=Nick | title=4 Midtown Streets Getting New Names: Tin Pan Alley, Perkins Place | website=Midtown-Hell's Kitchen, NY Patch | date=December 15, 2021 | url=https://patch.com/new-york/midtown-nyc/4-midtown-streets-getting-new-names-tin-pan-alley-perkins-place | access-date=March 17, 2022}}</ref>
The surrounding area is part of Manhattan's Theater District and contains many Broadway theatres.<ref name="aia5" /> 1515 Broadway shares the block with seven theaters to the west: the Shubert, Broadhurst, and Majestic on 44th Street and the Booth, Gerald Schoenfeld, Bernard B. Jacobs, and John Golden theaters on 45th Street.<ref name="aia5" /><ref name="ZoLa" /> The Music Box Theatre, Imperial Theatre, and Richard Rodgers Theatre are across 45th Street to the northwest, and the New York Marriott Marquis hotel is to the north. Across Times Square are 1540 Broadway to the northeast, 1530 Broadway and the Millennium Times Square New York to the east, and 1500 Broadway to the southeast. One Astor Plaza is also close to 1501 Broadway to the south and 229 West 43rd Street, the Hayes Theater, and the St. James Theatre to the southwest.<ref name="ZoLa" />
Prior to the development of One Astor Plaza, the site had been owned by the Astor family.<ref>{{cite Routledge Broadway|pages=14–15}}</ref> The site had contained the eleven-story Hotel Astor, which had been designed by Clinton & Russell in a Beaux-Arts style and opened in 1904 with 1,000 guest rooms.<ref name="NY1900">{{Stern: New York|pages=267, 269|edition=1900}}</ref> The hotel had contained a red-brick facade, a mansard roof, and a lobby with a 22-foot-high colonnade.<ref name="NY1900" /><ref name="nyt-1966-01-22">{{Cite news|last=Ennis|first=Thomas W.|date=January 22, 1966|title=Astor Hotel to Be Razed for Office Building; 40-Story Structure Is Planned on the Site by New Owners|language=en-US|work=The New York Times|url=https://www.nytimes.com/1966/01/22/archives/astor-hotel-to-be-razed-for-office-building-40story-structure-is.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204210318/https://www.nytimes.com/1966/01/22/archives/astor-hotel-to-be-razed-for-office-building-40story-structure-is.html|url-status=live}}</ref> According to architecture writer Robert A. M. Stern, the Astor inspired "a new species of popular hotels that soon clustered around Times Square, vast amusement palaces that catered to crowds with scenographic interiors that mirrored the theatricality of the Great White Way."<ref name="NY1900" />
==Architecture== One Astor Plaza was developed by the Sam Minskoff and Sons company and designed by Kahn and Jacobs,<ref name="aia5" /><ref name="nyt-1968-03-22">{{Cite news|date=March 22, 1968|title=Lehman Firm Joins Astor Project|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/03/22/archives/lehman-firm-joins-astor-project.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015433/https://www.nytimes.com/1968/03/22/archives/lehman-firm-joins-astor-project.html|url-status=live}}</ref> with Der Scutt as the principal architect.<ref>{{Cite news|last=Bernstein|first=Fred A.|date=March 16, 2010|title=Der Scutt, Modernist Architect, Dies at 75|language=en-US|work=The New York Times|url=https://www.nytimes.com/2010/03/16/arts/design/16scutt.html|access-date=February 7, 2022|issn=0362-4331|archive-date=August 29, 2015|archive-url=https://web.archive.org/web/20150829050156/http://www.nytimes.com/2010/03/16/arts/design/16scutt.html|url-status=live}}</ref> In addition, Ben Schlanger was hired as a consultant for the design of two theaters in the building: the Minskoff Theatre, a Broadway house on the third floor, and the Loews Astor Plaza (now the Palladium Times Square), originally a movie house in the basement.<ref name="nyt-1968-03-22" /> The building engineers are Shmerykowsky Consulting Engineers.<ref name="The Skyscraper Center 2016">{{cite web|date=April 7, 2016|title=One Astor Plaza|url=http://skyscrapercenter.info/building/one-astor-plaza/1152|access-date=February 7, 2022|website=The Skyscraper Center|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207182908/http://skyscrapercenter.info/building/one-astor-plaza/1152|url-status=live}}</ref>
The building has 54 stories and measures {{convert|745|ft}} to its pinnacle.<ref name="Emporis">{{Cite web|title=One Astor Plaza|url=https://www.emporis.com/buildings/114650/one-astor-plaza-new-york-city-ny-usa|access-date=January 1, 2021|publisher=Emporis|archive-date=September 30, 2007|archive-url=https://web.archive.org/web/20070930040541/http://www.emporis.com/en/wm/bu/?id=1astorplaza-newyorkcity-ny-usa|url-status=usurped}}</ref><ref name="The Skyscraper Center 2016" /> According to Emporis, the building is {{convert|730|ft}} tall to its main roof.<ref name="Emporis" /> Internally, One Astor Plaza is served by 36 elevators.<ref name="The Skyscraper Center 2016" /> The New York City Department of City Planning cites the building as having a Gross Floor Area of {{Convert|1,721,814|ft2|-3}},<ref name="ZoLa" /> while The Skyscraper Center gives a floor area of {{Convert|1,931,982|ft2|-3}}.<ref name="The Skyscraper Center 2016" /> Underneath the building is a parking lot for 225 cars.<ref name="Kirk 1971" /><ref name="The New York Times 1972">{{cite news|date=January 30, 1972|title=Fordham Hill Co-op Plan Dropped|page=R8|work=The New York Times|issn=0362-4331|id={{ProQuest|119435876}}}}</ref>
===Form and facade=== thumb|Facade in 1977 [[Image:TRL studios in Times Square in 2006.jpg|thumb|The set of ''Total Request Live'' in the Uptown Studio]] One Astor Plaza consists of a 54-story office tower above a low base. The tower stories are set back {{Convert|135|ft}} from Broadway.<ref name="nyt-1968-03-22" /><ref name="Stern (1995) p. 443">{{harvnb|Stern|Mellins|Fishman|1995|ps=.|p=443}}</ref> Under normal zoning regulations, the maximum floor area ratio (FAR) for any building on the tower's site was 15, but the developers received two bonuses of 20 percent each, bringing the FAR to 21.6. The developers had to include privately owned public space at the building's base for the first bonus, and they built a new theater for the second bonus.<ref name="PA p. 76" /><ref name="Kayden 2018">{{cite web|last=Kayden|first=Jerold S.|date=June 11, 2018|title=1515 Broadway|url=https://apops.mas.org/pops/m050053/|access-date=February 6, 2022|website=Privately Owned Public Space (APOPS)|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214750/https://apops.mas.org/pops/m050053/|url-status=live}}</ref> The Minskoff Theatre was among the first theaters built under a 1968 regulation that allowed office buildings to include a legitimate theater in exchange for additional floor area.<ref name="nyt-1971-08-03">{{Cite news|last=Calta|first=Louis|date=August 3, 1971|title=4 Office Theaters Are Taking Shape|language=en-US|work=The New York Times|url=https://www.nytimes.com/1971/08/03/archives/4-office-theaters-are-taking-shape.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233422/https://www.nytimes.com/1971/08/03/archives/4-office-theaters-are-taking-shape.html|url-status=live|postscript=none}}; {{harvnb|Stern|Mellins|Fishman|1995|ps=.|pp=444–445}}</ref> The bonus applied only to Broadway theaters; the movie theater in the basement did not provide any FAR bonus for the building.<ref name="PA p. 76" /> The building has two privately operated public spaces: the open-air Shubert Alley, as well as a ground-floor arcade beneath the center of the tower.<ref name="Kayden 2018" />
At the base of the tower, the facade's Broadway elevation contains a glass front.<ref name="BottoMitchell2002">{{Botto: At This Theatre|page=329}}</ref><ref name="Cuozzo 2008">{{Cite news|last=Cuozzo|first=Steve|date=September 2, 2008|title=Times Square Gets a Facelift|language=en-US|work=New York Post|id={{ProQuest|334531145}}}}</ref> The second-floor studios contain full-height windows facing Times Square.<ref name="nyt-1997-07-13" /><ref name="Stern (2006) p. 668" /> A rooftop restaurant was originally planned for the setback above the Minskoff Theatre on the third floor, but it was never built.<ref name="Stern (1995) p. 443" /> During a 2008 renovation by Kohn Pedersen Fox (KPF), the glass facade of the studios and theater was extended upward by {{convert|42|ft}}.<ref name="Cuozzo 2008" /> Two pairs of three-story-high LED signs are installed along the base's northeast and southeast corners.<ref name="Kleege 2013">{{cite magazine|last=Kleege|first=Stephen|date=January 14, 2013|title=Times Sq. property's new vertical|volume=29|issue=2|page=9|id={{ProQuest|1272345928}}|magazine=Crain's New York Business}}</ref><ref name="SNA Displays 2021">{{cite web|date=December 9, 2021|title=Tight Pixel Pitch Video Screens at 1515 Broadway in Times Square|url=https://snadisplays.com/projects/1515-broadway/|access-date=February 7, 2022|website=SNA Displays|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172622/https://snadisplays.com/projects/1515-broadway/|url-status=live}}</ref> Each pair of signs consists of a primary display facing each intersection, used for advertising, and a smaller display facing Times Square's western sidewalk, used for displaying show information for Minskoff Theatre. The primary displays measure {{convert|48|ft}} high by {{convert|36|ft}} wide, while the smaller displays are 48 feet high by {{convert|7|ft|10|in}} wide.<ref name="SNA Displays 2021" />
The tower's facade is largely made of dark glass.<ref name="Emporis" /> Vertically aligned, stone-clad mechanical ducts are placed on each side, separating the leftmost quarter from the rightmost three-quarters of the facade.<ref name="Stern (1995) p. 443" /> These mechanical shafts rise above the roof, terminating in pointed pinnacles at each corner of the roof.<ref name="Emporis" /><ref name="Stern (1995) pp. 443-444">{{harvnb|Stern|Mellins|Fishman|1995|ps=.|pp=443–444}}</ref><ref name=Stichweh2009>{{cite book |last=Stichweh |first=Dirk |title=New York Skyscrapers |publisher=Prestel Publishing |year=2016 |isbn=978-3-7913-8226-5 |oclc=923852487 |page=174}}</ref> The shafts were overlaid by aluminum panels during KPF's 2008 renovation.<ref name="Cuozzo 2008" /> A stone band also runs at the top of the roof.<ref name="Emporis" /> The use of pinnacles and stonework was a departure from previous International Style buildings with flat roofs.<ref name=Stichweh2009/> Initially, the top of the building contained signs on all four sides, spelling out the name W. T. Grant, the original anchor tenant. The signs consisted of illuminated {{convert|20|ft|m|-tall|adj=mid}} letters. They were removed in 1976 when W. T. Grant went bankrupt.<ref name="nyt-1976-03-13">{{Cite news|date=March 13, 1976|title=W.T. Grant's Signs Coming Down|language=en-US|work=The New York Times|url=https://www.nytimes.com/1976/03/13/archives/wt-grants-signs-coming-down.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011856/https://www.nytimes.com/1976/03/13/archives/wt-grants-signs-coming-down.html|url-status=live}}</ref>
=== Structural features === One Astor Plaza's superstructure is made of steel floor spans around a concrete core.<ref name="The Skyscraper Center 2016" /> The superstructure contains some uncommon features due to the presence of the Minskoff Theatre at the base. In typical skyscrapers, the columns of the superstructure could extend directly to the underlying bedrock, but One Astor Plaza's eastern section was directly above the theater and had to be supported entirely by the theater's roof. The steel was provided by Bethlehem Steel; its supervising engineer Thomas Connolly said One Astor Plaza's superstructure "would have been a snap from an engineering point of view", but the theater's presence made for "a humdinger of an engineering feat".<ref name="nyt-1970-06-21">{{Cite news|last=Andelman|first=David A.|date=June 21, 1970|title=Web of Steel Holds Fate Of the Stage|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/06/21/archives/web-of-steel-holds-fate-of-the-stage-broadways-future-tied-to-steel.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205840/https://www.nytimes.com/1970/06/21/archives/web-of-steel-holds-fate-of-the-stage-broadways-future-tied-to-steel.html|url-status=live}}</ref><ref name="Stern (1995) p. 444" /> The theater roof is a Vierendeel truss that rests on two girders, one weighing {{convert|89|ST|LT t}} and the other weighing {{convert|109|ST|LT t}}. These girders were the heaviest in any building at the time, and they had to be delivered in several pieces from the factory, itself an intricate operation.<ref name="nyt-1970-06-21" />
===Interior===
==== Palladium Times Square ==== {{Main|Palladium Times Square}}
The Loews Astor Plaza movie theater originally occupied the building's public space below street level, accessible from 44th Street.<ref name="Cinema Treasures 1974">{{cite web|date=June 26, 1974|title=Palladium Times Square in New York, NY|url=http://cinematreasures.org/theaters/309|access-date=February 7, 2022|website=Cinema Treasures|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207005201/http://cinematreasures.org/theaters/309|url-status=live}}</ref><ref name="nyt-2004-07-15">{{Cite news|last=Dunlap|first=David W.|date=July 15, 2004|title=Coming Soon: The End; New York's Largest Single-Screen Theater Is Closing|language=en-US|work=The New York Times|url=https://www.nytimes.com/2004/07/15/nyregion/coming-soon-the-end-new-york-s-largest-single-screen-theater-is-closing.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143711/https://www.nytimes.com/2004/07/15/nyregion/coming-soon-the-end-new-york-s-largest-single-screen-theater-is-closing.html|url-status=live}}</ref> It opened on June 26, 1974,<ref name="nyt-1974-06-26">{{Cite news|date=June 26, 1974|title=Streisand's 'Pete's Sake' Opens the Astor Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/06/26/archives/streisands-petes-sake-opens-the-astor-plaza.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011858/https://www.nytimes.com/1974/06/26/archives/streisands-petes-sake-opens-the-astor-plaza.html|url-status=live}}</ref> and was the city's largest capacity cinema at 1,440<ref name="nyt-2004-07-15" /> or 1,500 seats.<ref name=Stichweh2009/> The single-screen theater was designed with a steeply raked stadium seating layout<ref name="nyt-1974-04-05">{{Cite news|date=April 5, 1974|title=Briefs on the Arts|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/04/05/archives/briefs-on-the-arts-bancroft-prizes-are-won-by-three-astor-plaza-to.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011900/https://www.nytimes.com/1974/04/05/archives/briefs-on-the-arts-bancroft-prizes-are-won-by-three-astor-plaza-to.html|url-status=live}}</ref><ref name="Boxoffice 1974">{{cite magazine|date=April 8, 1974|title=Loews' Astor Plaza Planning June Bow|volume=104|issue=26|page=E1|id={{ProQuest|1476133110}}|magazine=Boxoffice}}</ref> and was intended to show the first runs of major films.<ref name="Boxoffice 1974" /> There were 42 rows of seats facing the screen, which was {{convert|20|yd}} wide. After an unsuccessful attempt to divide the theater into six screens in 1993, the theater closed in July 2004.<ref name="nyt-2004-07-15" /> After a $21 million renovation, the space reopened in 2005 as a music venue under the ownership of Anschutz Entertainment Group.<ref name="nyt-2005-08-04">{{Cite news|last=McKinley|first=Jesse|date=August 4, 2005|title=New Theater on Broadway to Have a Rock 'n' Roll Heart|language=en-US|work=The New York Times|url=https://www.nytimes.com/2005/08/04/arts/music/new-theater-on-broadway-to-have-a-rock-n-roll-heart.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142924/https://www.nytimes.com/2005/08/04/arts/music/new-theater-on-broadway-to-have-a-rock-n-roll-heart.html|url-status=live}}</ref><ref name="Gamboa 2005">{{Cite news|last=Gamboa|first=Glenn|date=August 4, 2005|title=After $21 Million in Renovations, the Nokia Theatre Will Open as a Concert Venue in October|pages=49|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94423207/the-nokia-theatre-will-open-as-a/|access-date=February 7, 2022|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142513/https://www.newspapers.com/clip/94423207/the-nokia-theatre-will-open-as-a/|url-status=live}}</ref> The venue was originally sponsored by Nokia,<ref name="nyt-2005-08-04" /> then by Best Buy in 2010<ref>{{Cite news|last=Sisario|first=Ben|date=August 18, 2010|title=Best Buy Takes Its Brand to a Times Square Theater|language=en-US|work=The New York Times|url=https://www.nytimes.com/2010/08/18/arts/music/18bestbuy.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142513/https://www.nytimes.com/2010/08/18/arts/music/18bestbuy.html|url-status=live}}</ref> and PlayStation in 2015.<ref>{{cite magazine|last=Waddell|first=Ray|date=October 8, 2015|title=Best Buy Theater Is Now the PlayStation Theater|url=https://www.billboard.com/articles/business/6722625/playstation-theater|access-date=February 7, 2022|magazine=Billboard|archive-date=May 15, 2021|archive-url=https://web.archive.org/web/20210515120339/https://www.billboard.com/articles/business/6722625/playstation-theater/|url-status=live}}</ref> The PlayStation Theater closed on December 31, 2019,<ref>{{Cite web|last=Aswad|first=Jem|date=August 20, 2019|title=New York's PlayStation Theater to Close (EXCLUSIVE)|url=https://variety.com/2019/music/news/new-yorks-playstation-theater-to-close-1203307605/|access-date=December 8, 2019|website=Variety|issn=0042-2738|language=en|archive-date=October 22, 2019|archive-url=https://web.archive.org/web/20191022133214/https://variety.com/2019/music/news/new-yorks-playstation-theater-to-close-1203307605/|url-status=live}}</ref> and it reopened as the Palladium Times Square event venue in 2020.<ref name="Cinema Treasures 1974" />
==== Ground level and lobby ==== The building's main entrances are at the southeast and northeast corners, facing Times Square. Inside the entrances, escalators lead to the office lobby, which is on the second floor.<ref name="Stern (1995) p. 443" /> The lobby contains the artwork ''Alight Embrace'' by Chris Cosma, which was installed in 2010. The artwork consists of a {{convert|4000|ft2|adj=on}} section of wall between the two entrances, weighing {{convert|60|ST|LT t}}, and is made up of 1,100 glass panels measuring {{convert|16|by|36|by|2|in}}.<ref>{{cite web|date=June 16, 2010|title=New York Lobby Houses Massive Glass Installation|url=https://www.glassguides.com/2010/06/new-york-lobby-massive-glass-installation/|access-date=February 7, 2022|website=Architects' Guide to Glass & Metal|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172622/https://www.glassguides.com/2010/06/new-york-lobby-massive-glass-installation/|url-status=live}}</ref>
At the first floor, there is a covered arcade under the center of the building, connecting 44th and 45th Streets.<ref name="Emporis" /><ref name="Kayden 2018" /> This passageway is also unofficially known as Minskoff Alley.<ref>{{Cite news|last=Gray|first=Christopher|date=July 3, 2014|title=Shubert Alley: Star-Gazing, but Maybe Not on Mondays|language=en-US|work=The New York Times|url=https://www.nytimes.com/2014/07/06/realestate/shubert-alley-star-gazing-but-maybe-not-on-mondays.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207170110/https://www.nytimes.com/2014/07/06/realestate/shubert-alley-star-gazing-but-maybe-not-on-mondays.html|url-status=live}}</ref> The space covers {{Convert|5800|ft2}}.<ref name="Kayden 2018" /> The arcade provides an entrance to the Minskoff Theatre,<ref name="Stern (1995) p. 443" /><ref name="Kirk 1971">{{Cite news|last=Kirk|first=Christina|date=December 5, 1971|title=Broadway Turns the Corner|pages=10|work=New York Daily News|issn=2692-1251|via=newspapers.com|url=https://www.newspapers.com/clip/94304453/broadway-turns-the-cornerchristina-kirk/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233415/https://www.newspapers.com/clip/94304453/broadway-turns-the-cornerchristina-kirk/|url-status=live}}</ref> which is accessed primarily by escalators.<ref name="BottoMitchell2002" /><ref>{{cite news|date=December 24, 1972|title=Broadway Audiences Riding Escalators|page=12D|work=The Hartford Courant|issn=1047-4153|id={{ProQuest|551356233}}}}</ref> From 1982 to 1986, the arcade also contained a museum dedicated to the history of Broadway theatre,<ref name="nyt-1986-06-17">{{Cite news|date=June 17, 1986|title=Theater Museum to Close|language=en-US|work=The New York Times|url=https://www.nytimes.com/1986/06/17/theater/theater-museum-to-close.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214746/https://www.nytimes.com/1986/06/17/theater/theater-museum-to-close.html|url-status=live}}</ref> including photographs and memorabilia.<ref>{{Cite news|last=Shepard|first=Richard F.|date=March 24, 1982|title=Going Out Guide|language=en-US|work=The New York Times|url=https://www.nytimes.com/1982/03/24/arts/going-out-guide.html|access-date=February 8, 2022|issn=0362-4331|archive-date=February 8, 2022|archive-url=https://web.archive.org/web/20220208165421/https://www.nytimes.com/1982/03/24/arts/going-out-guide.html|url-status=live}}</ref> The ground level also contains retailers. During the 2000s and 2010s, these included a Bank of America branch with three floor-to-ceiling stock ticker signs;<ref>{{Cite news|last=Hughes|first=C. J.|date=September 14, 2005|title=Multiplying in Manhattan: Banks|language=en-US|work=The New York Times|url=https://www.nytimes.com/2005/09/14/business/multiplying-in-manhattan-banks.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142515/https://www.nytimes.com/2005/09/14/business/multiplying-in-manhattan-banks.html|url-status=live}}</ref> a {{convert|19000|ft2|adj=on}} Aeropostale clothing store;<ref name="Pasquarelli 2010">{{cite magazine|last=Pasquarelli|first=Adrianne|date=November 1, 2010|title=Teens Square|volume=26|issue=44|page=1|id={{ProQuest|808467738}}|magazine=Crain's New York Business}}</ref> an Oakley, Inc. sports accessories store;<ref>{{Cite news|last=Pristin|first=Terry|date=October 26, 2010|title=In Times Square, at Least, Retailing Is Rebounding|language=en-US|work=The New York Times|url=https://www.nytimes.com/2010/10/27/realestate/commercial/27retail.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207150626/https://www.nytimes.com/2010/10/27/realestate/commercial/27retail.html|url-status=live}}</ref> and a Swatch watch store.<ref>{{cite web|last=Pepitone|first=Sara|date=March 2, 2015|title=Swatch Signs Lease for Balance of 1515 Broadway Retail Space|url=https://commercialobserver.com/2015/03/swatch-signs-lease-for-balance-of-1515-broadway-retail-space/|access-date=February 7, 2022|website=Commercial Observer|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207182906/https://commercialobserver.com/2015/03/swatch-signs-lease-for-balance-of-1515-broadway-retail-space/|url-status=live}}</ref> Facing Shubert Alley was an Italian restaurant called Cucina<ref>{{Cite news|last=Bruni|first=Frank|date=September 9, 2005|title=Bolzano's Bar Cucina|language=en-US|work=The New York Times|url=https://www.nytimes.com/2005/09/09/dining/bolzanos-bar-cucina.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143707/https://www.nytimes.com/2005/09/09/dining/bolzanos-bar-cucina.html|url-status=live|postscript=none}}; {{Cite news|last=Dziemianowicz|first=Joe|date=June 22, 2005|title=Food Finds. Meatballs Uses Ol' Noodle|pages=46|work=New York Daily News|issn=2692-1251|via=newspapers.com|url=https://www.newspapers.com/clip/94423054/food-finds-meatballs-uses-ol/|access-date=February 7, 2022|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142510/https://www.newspapers.com/clip/94423054/food-finds-meatballs-uses-ol/|url-status=live}}</ref> and a Junior's restaurant.<ref>{{Cite news|last=Fabricant|first=Florence|date=June 7, 2006|title=Off the Menu|language=en-US|work=The New York Times|url=https://www.nytimes.com/2006/06/07/dining/07off.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143824/https://www.nytimes.com/2006/06/07/dining/07off.html|url-status=live}}</ref> {{As of|2022}}, Oakley, Kiko Milano, and Swatch were among the retail tenants.<ref>{{Cite web|date=March 13, 2019|title=1515 Broadway|url=https://therealdeal.com/new-research/topics/property/1515-broadway/|access-date=February 7, 2022|website=TRD Research | Published by The Real Deal|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205102012/https://therealdeal.com/new-research/topics/property/1515-broadway/|url-status=live}}</ref>
==== Second-floor studios ==== thumb|252px|Uptown, Midtown and Downtown Studios & Aeropostale, Billabong, Element and Oakley store.Originally, the second floor was occupied by a branch of the Bankers Trust bank. The branch adjoined the building's main lobby and contained a domed ceiling, as well as design features reminiscent of early-20th-century banks. The bank's office also contained a glass enclosure with an escalator between the lobby and the Minskoff Theatre, as well as a vault.<ref name="The New York Times 1971">{{cite news|date=March 28, 1971|title=Bank Rents in Astor Plaza|page=R9|work=The New York Times|issn=0362-4331|id={{ProQuest|119368909}}}}</ref> By the 1990s, this level served as offices for Viacom's human-resources department.<ref name="nyt-1997-07-13">{{Cite news|last=Carter|first=Bill|date=July 13, 1997|title=Times Square Awaits MTV Live|language=en-US|work=The New York Times|url=https://www.nytimes.com/1997/07/13/nyregion/times-square-awaits-mtv-live.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207010713/https://www.nytimes.com/1997/07/13/nyregion/times-square-awaits-mtv-live.html|url-status=live}}</ref>
Viacom repurposed the space as a {{convert|20000|ft2|adj=on}} television studio for MTV Networks, launching operations in 1997.<ref name="nyt-1997-07-13" /><ref name="Collier 1997">{{cite magazine|last=Collier|first=Andrew|date=July 22, 1997|title=Viewers cast Web over MTV|volume=348|issue=21|pages=1, 119|id={{ProQuest|2467887305}}|magazine=The Hollywood Reporter}}</ref> According to MTV president Judy McGrath, the studio had full-height windows on Times Square because "We want to get people to feel what it's like to be in New York, to be part of that incredible playground down there".<ref name="nyt-1997-07-13" /><ref name="Stern (2006) p. 668">{{harvnb|Stern|Fishman|Tilove|2006|ps=.|p=668}}</ref> The MTV broadcasting complex initially consisted of three studios. The largest was the Uptown Studio, which had the full-height windows on Times Square and was used by ''Total Request Live''. Two smaller studios, the Midtown Studio and the Downtown Studio, were used for MTV News and smaller programs.<ref>{{cite web|title=MTV Studios|url=https://dguides.com/newyorkcity/activities/live-tv-tapings/mtv-studios/|access-date=February 7, 2022|website=Destination Guide|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207182908/https://dguides.com/newyorkcity/activities/live-tv-tapings/mtv-studios/|url-status=live}}</ref>
Despite reports that MTV planned to completely vacate its studio space,<ref name="Kreps Kreps 2009">{{cite magazine|last=Kreps|first=Daniel|date=August 11, 2009|title=Report: MTV To Vacate Times Square Studio|url=https://www.rollingstone.com/music/music-news/report-mtv-to-vacate-times-square-studio-252473/|access-date=February 7, 2022|magazine=Rolling Stone|archive-date=March 8, 2021|archive-url=https://web.archive.org/web/20210308205001/https://www.rollingstone.com/music/music-news/report-mtv-to-vacate-times-square-studio-252473/|url-status=live}}</ref><ref name="Carlson 2009">{{cite web|last=Carlson|first=Jen|date=August 11, 2009|title=It's a Wrap at MTV's Times Square Studio|url=https://gothamist.com/arts-entertainment/its-a-wrap-at-mtvs-times-square-studio|access-date=February 7, 2022|website=Gothamist|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207182907/https://gothamist.com/arts-entertainment/its-a-wrap-at-mtvs-times-square-studio|url-status=live}}</ref> Viacom renewed its lease for a smaller portion of the space in late 2010.<ref>{{cite web |last1=Kusisto |first1=Laura |title=Viacom Re-ups Studio Space at SL Green's 1515 Broadway |url=https://observer.com/2010/10/viacom-reups-studio-space-at-sl-greens-1515-broadway/ |website=Observer |access-date=April 25, 2023 |date=October 25, 2010}}</ref> The remaining portion was leased to Aeropostale, which operated in the space from 2010<ref name="Pasquarelli 2010" /> until 2016.<ref>{{cite web |last1=Rubinstein |first1=Dana |title=Aeropostale to Take Old MTV Studio Space in Times Square |url=https://observer.com/2010/01/aeropostale-to-take-old-mtv-studio-space-in-times-square/ |website=Observer |access-date=April 25, 2023 |date=January 12, 2010}}</ref> Viacom re-leased the Aeropostale space in 2017 in preparation for its relaunch of ''TRL''.<ref>{{cite web|last=Gross|first=Max|date=April 7, 2017|title=Viacom Nabs Studio Space at 1515 Broadway|url=https://commercialobserver.com/2017/04/viacom-nabs-studio-space-at-1515-broadway/|access-date=February 6, 2022|website=Commercial Observer|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214747/https://commercialobserver.com/2017/04/viacom-nabs-studio-space-at-1515-broadway/|url-status=live}}</ref>
In 2020, after CBS Corporation and Viacom merged again, CBS News used part of the MTV Studios space for its coverage of the 2020 presidential election;<ref name="Steinberg 2020">{{Cite web|last=Steinberg|first=Brian|date=October 15, 2020|title=CBS News Will Spend Election Night in Times Square (EXCLUSIVE)|url=https://variety.com/2020/tv/news/cbs-news-election-coverage-norah-odonnell-tv-1234806644/|url-status=live|archive-url=https://web.archive.org/web/20201222070449/https://variety.com/2020/tv/news/cbs-news-election-coverage-norah-odonnell-tv-1234806644/|archive-date=December 22, 2020|access-date=January 7, 2021|website=Variety|issn=0042-2738|language=en-US}}</ref> the windows were blanked out for security reasons.<ref name="NewscastStudio 2021">{{cite web|last=Hill|first=Michael P.|date=November 1, 2021|title='CBS Mornings' gains 'view' of Times Square|url=https://www.newscaststudio.com/2021/11/01/cbs-mornings-times-square-view/?og=1|access-date=February 7, 2022|website=NewscastStudio|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207182909/https://www.newscaststudio.com/2021/11/01/cbs-mornings-times-square-view/?og=1|url-status=live}}</ref> In September 2021, CBS's new morning show ''CBS Mornings'' premiered in a portion of the MTV Studios space (replacing ''CBS This Morning'', which aired from the CBS Broadcast Center), using a modified version of the election set.<ref name="NewscastStudio 2021" /><ref>{{cite web |last=Steinberg |first=Brian |date=August 31, 2021 |title=CBS News to Launch 'Mornings' in Bid to Capture A.M. Viewers Across The Week |url=https://variety.com/2021/tv/news/cbs-news-morning-franchise-nate-burleson-jane-pauley-1235052499/ |url-status=live |archive-url=https://web.archive.org/web/20210831124630/https://variety.com/2021/tv/news/cbs-news-morning-franchise-nate-burleson-jane-pauley-1235052499/ |archive-date=August 31, 2021 |access-date=August 31, 2021 |work=Variety}}</ref> The studio was christened "Studio 1515" in reference to the building's address.<ref name="NewscastStudio 2021" /> MTV retains a portion of studio space in the southern end of the building (which formerly comprised the Downtown Studio) for its weekly ''Fresh Out Live'' program. Comedy Central's ''The Daily Show with Trevor Noah'' was temporarily housed in One Astor Plaza from September 2021 to March 2022.<ref>{{cite web | last=White | first=Peter | title='The Daily Show With Trevor Noah' Brings Back Audience & Returns To Longtime Studio | website=Deadline | date=March 14, 2022 | url=https://deadline.com/2022/03/the-daily-show-with-trevor-noah-brings-back-audience-moves-back-old-studio-1234977919/ | access-date=March 17, 2022|postscript=none}}; {{Cite web |last=Steinberg |first=Brian |date=September 13, 2021 |title=Trevor Noah Brings 'Daily Show' to Times Square as TV's Late-Night Crowd Starts to Shrink |url=https://variety.com/2021/tv/news/trevor-noah-daily-show-return-late-night-tv-1235063095/ |url-status=live |archive-url=https://web.archive.org/web/20210920174037/https://variety.com/2021/tv/news/trevor-noah-daily-show-return-late-night-tv-1235063095/ |archive-date=September 20, 2021 |access-date=September 19, 2021 |website=Variety|issn=0042-2738 |language=en-US}}</ref> In 2025, ''CBS Mornings'' moved back to CBS Broadcast Center.<ref>{{cite web | title=Tour the new "CBS Mornings" studio | website=CBS News | date=September 29, 2025 | url=https://www.cbsnews.com/news/tour-new-cbs-mornings-studio-57/ | access-date=September 30, 2025}}</ref>
==== Third floor ==== thumb|The facade of the Minskoff Theatre from Times Square One Astor Plaza's Broadway theater, Minskoff Theatre, was named after the building's developers and is on the building's third floor.<ref name="aia5" /> Der Scutt designed the Minskoff,<ref name="nyt-1971-08-03" /><ref name="PA p. 78">{{harvnb|Progressive Architecture|1970|ps=.|p=78}}</ref> with Ben Schlanger as a consulting architect.<ref name="PA p. 76" /><ref name="PA p. 78" /> Jo Mielziner was the consultant for the theater's original operator, Albert Selden.<ref name="PA p. 78" /><ref>{{cite magazine|last=Harmon|first=Charlotte|date=July 14, 1972|title=New Legit Theatres|volume=13|issue=28|pages=24|id={{ProQuest|963171357}}|magazine=Back Stage|issn=0005-3635}}</ref> The Minskoff, Gershwin, Circle in the Square, and American Place theaters were all constructed under the Special Theater District amendment of 1967 as a way to give their respective developers additional floor area.<ref name="nyt-1971-08-03" /><ref name="PA p. 77">{{harvnb|Progressive Architecture|1970|ps=.|p=77}}</ref> The escalators from the building's ground-story arcade lead to the third-floor grand foyer, where additional escalators lead to the auditorium seating.<ref name="BottoMitchell2002" /> The Minskoff Theatre has 1,621 seats across two levels: a steeply raked orchestra and a smaller mezzanine. The Nederlander Organization operates the theater.<ref>{{Cite Routledge Broadway|page=175}}</ref>
Formerly, the third floor also contained the Minskoff Recording Studios, which opened in 1976. Originally, the studios ranged in size from {{convert|11|by|11|ft}} to {{convert|32|by|38|ft}}. Each studio was soundproofed, enabling numerous tenants to use the studios simultaneously.<ref name="Madden 1976">{{cite magazine|last=Madden|first=John|date=September 8, 1976|title=Legitimate: New Minskoff Studios Rated Roomiest, Best In B'way Theatre Area|volume=284|issue=5|pages=89, 91|id={{ProQuest|1401292663}}|magazine=Variety|issn=0042-2738}}</ref> These studios hosted rehearsals for many large Broadway musicals, as they were the only studios in the area that could accommodate large Broadway productions.<ref name="Fetherston 1989">{{Cite news|last=Fetherston|first=Drew|date=May 16, 1989|title=A Major Broadway Closing: Dancin' Feet Movin' On|pages=115, [https://www.newspapers.com/clip/94360274/ 116], [https://www.newspapers.com/clip/94360324/ 138]|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94359595/a-major-broadway-closing-dancin-feet/|access-date=February 6, 2022|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206185030/https://www.newspapers.com/clip/94359595/a-major-broadway-closing-dancin-feet/|url-status=live}}</ref><ref name="Lueck 1988">{{cite news|last=Lueck|first=Thomas J.|date=March 21, 1988|title=Final Bow for Many Theater Area Businesses|page=A1|work=The New York Times|url=https://www.nytimes.com/1988/03/21/nyregion/final-bow-for-many-theater-area-businesses.html|access-date=February 6, 2022|issn=0362-4331|id={{ProQuest|426780476}}|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214748/https://www.nytimes.com/1988/03/21/nyregion/final-bow-for-many-theater-area-businesses.html|url-status=live}}</ref> By the late 1980s, the studio sizes ranged from {{convert|270|ft2}} for studio 7 to {{convert|1,856|ft2}} for studio 3. Rental rates for the studios varied depending on the studios' sizes, with studio 7 charging $10 an hour and studio 3 charging $5 per hour, although discounted rates were charged for eight-hour and week-long rentals. Despite the studios' popularity, they closed in 1989 due to rising rents.<ref name="Fetherston 1989" />
==History== After World War II, development of theaters around Times Square stalled, and the area began to evolve into a business district.<ref>{{harvnb|Stern|Mellins|Fishman|1995|ps=.|p=441}}</ref> The first proposal to convert the Astor Hotel site to offices had been put forth in 1947, when Metro-Goldwyn-Mayer had unsuccessfully proposed leasing the entire hotel for its own offices.<ref name="Stern (1995) p. 443" /><ref>{{Cite news|date=January 22, 1947|title=Sale of Hotel Astor to M-G-M Is Denied|language=en-US|work=The New York Times|url=https://www.nytimes.com/1947/01/22/archives/sale-of-hotel-astor-to-mgm-is-denied.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224418/https://www.nytimes.com/1947/01/22/archives/sale-of-hotel-astor-to-mgm-is-denied.html|url-status=live}}</ref> When real estate developers Webb and Knapp leased the hotel in 1954, they pledged to keep the hotel operating.<ref>{{Cite news|date=July 31, 1954|title=Syndicate Leases the Hotel Astor; Webb & Knapp in Group That Plans to Continue Times Sq. Landmark in Present Role|language=en-US|work=The New York Times|url=https://www.nytimes.com/1954/07/31/archives/syndicate-leases-the-hotel-astor-webb-knapp-in-group-that-plans-to.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224421/https://www.nytimes.com/1954/07/31/archives/syndicate-leases-the-hotel-astor-webb-knapp-in-group-that-plans-to.html|url-status=live}}</ref> Astor Associates bought the hotel in 1958 and took over operation after Webb and Knapp went bankrupt in 1965.<ref name="Wall Street Journal 1966">{{cite news|date=January 24, 1966|title=Astor Hotel Set to Vanish From Times Square Scene|page=28|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|133165271}}}}</ref> Webb and Knapp's former president William Zeckendorf formed Place de L'Etoile Inc. in December 1965, seeking to buy the Astor Hotel,<ref>{{cite news|date=December 16, 1965|title=Zeckendorfs Seeking To Buy Hotel Astor In Midtown New York: Plans for Property Not Disclosed But Former Webb & Knapp Head Said to Envision Office Building|page=30|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|132983385}}|postscript=none}}; {{cite news|date=December 20, 1965|title=Business & Finance: Bonuses: The Fatted Calf Is Being Sliced Thin in '65|page=B9|work=Los Angeles Times|issn=0458-3035|id={{ProQuest|155321053}}}}</ref> but this was unsuccessful.<ref name="Wall Street Journal 1966" /> ''The New York Times'' attributed the hotel's decline to the fact that, because of the growing popularity of automobiles, visitors could stay in a suburb rather than the city's center.<ref name="nyt-1967-01-05">{{Cite news|last=O'Kane|first=Lawrence|date=January 5, 1967|title=Plazas Planned for Astor's Site; 50-Story Office Building to Be Surrounded by Open Spaces and Shops|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/01/05/archives/plazas-planned-for-astors-site-50story-office-building-to-be.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224419/https://www.nytimes.com/1967/01/05/archives/plazas-planned-for-astors-site-50story-office-building-to-be.html|url-status=live}}</ref>
=== Planning ===
==== Initial plans ==== In January 1966, Sam Minskoff and Sons paid $10.5 million for the Hotel Astor and the eastern section of Shubert Alley, with plans to erect a 40-story office building on the site.<ref name="nyt-1966-01-22" /><ref name="Wall Street Journal 1966" /><ref>{{Cite news|date=January 22, 1966|title=Times Square to Lose Astor Hotel|pages=32|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94218989/times-square-to-lose-astor-hotel/|access-date=February 4, 2022|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224413/https://www.newspapers.com/clip/94218989/times-square-to-lose-astor-hotel/|url-status=live}}</ref> At the time, a tax assessment valued the land at $8.4 million.<ref name="nyt-1966-01-22" /> Within a week of the sale being announced, Minskoff & Sons president Henry Minskoff said several companies had expressed interest in leasing large amounts of space in the new skyscraper.<ref>{{Cite news|last=Ennis|first=Thomas W.|date=January 30, 1966|title=Office Boom Seen for Times Square; New Skyscraper Will Rise on Site of Astor Hotel-- Wide Interest Reported|language=en-US|work=The New York Times|url=https://www.nytimes.com/1966/01/30/archives/office-boom-seen-for-times-square-new-skyscraper-will-rise-on-site.html|access-date=February 4, 2022|issn=0362-4331|archive-date=November 16, 2021|archive-url=https://web.archive.org/web/20211116185044/https://www.nytimes.com/1966/01/30/archives/office-boom-seen-for-times-square-new-skyscraper-will-rise-on-site.html|url-status=live}}</ref> The Minskoffs hired Kahn and Jacobs as the architects in May 1966,<ref>{{Cite news|date=May 10, 1966|title=Real Estate Notes|language=en-US|work=The New York Times|url=https://www.nytimes.com/1966/05/10/archives/real-estate-notes.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224411/https://www.nytimes.com/1966/05/10/archives/real-estate-notes.html|url-status=live}}</ref> and the hotel was closed on June 30, 1966, the day before Minskoff & Sons took title to the site.<ref>{{Cite news|last=Mayer|first=Robert|date=July 1, 1966|title=Drop These Lost Keys In a Dead Letter Box|pages=122|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94221366/drop-these-lost-keys-in-a-dead-letter/|access-date=February 4, 2022|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224411/https://www.newspapers.com/clip/94221366/drop-these-lost-keys-in-a-dead-letter/|url-status=live|postscript=none}}; {{Cite news|date=July 1, 1966|title=Astor to Keep Suite Open For Use by I.B.M. School|language=en-US|work=The New York Times|url=https://www.nytimes.com/1966/07/01/archives/astor-to-keep-suite-open-for-use-by-ibm-school.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224415/https://www.nytimes.com/1966/07/01/archives/astor-to-keep-suite-open-for-use-by-ibm-school.html|url-status=live}}</ref> The old hotel's furnishings were sold off in October 1966.<ref>{{Cite news|date=October 8, 1966|title=Astor's Auctioned Contents To See Service Out of Town|language=en-US|work=The New York Times|url=https://www.nytimes.com/1966/10/08/archives/astors-auctioned-contents-to-see-service-out-of-town.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204224413/https://www.nytimes.com/1966/10/08/archives/astors-auctioned-contents-to-see-service-out-of-town.html|url-status=live|postscript=none}}; {{cite news|date=October 9, 1966|title=Auction Is Held At Astor Hotel|page=55A|work=The Hartford Courant|issn=1047-4153|id={{ProQuest|549271773}}}}</ref> The Minskoffs demolished the rear of the hotel first because there was a restaurant at the front of the hotel, whose lease did not expire until 1967.<ref>{{Cite news|last=Ennis|first=Thomas W.|date=June 21, 1966|title=3 Hotels Closing Within a Month; Two Sheraton Structures and Astor to Be Razed|language=en-US|work=The New York Times|url=https://www.nytimes.com/1966/06/21/archives/3-hotels-closing-within-a-month-two-sheraton-structures-and-astor.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204225914/https://www.nytimes.com/1966/06/21/archives/3-hotels-closing-within-a-month-two-sheraton-structures-and-astor.html|url-status=live}}</ref> The Hercules Wrecking Corporation began demolishing the hotel in January 1967, anticipating to complete the job within five months.<ref name="nyt-1967-01-05" /> However, the demolition was delayed because of the hotel's structural durability (the hotel had contained {{convert|2|ft|m|-thick|adj=mid}} walls and heavy-gauge structural steel) and city regulations that required all wood to be removed from the building.<ref>{{Cite news|last=Fried|first=Joseph P.|date=August 3, 1967|title=The Astor, a Lady to the End, Resists the Wrecker's Advances; Crews Are Awed by Solidity Of Broadway's Grande Dame|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/08/03/archives/the-astor-a-lady-to-the-end-resists-the-wreckers-advances-crews-are.html|access-date=February 4, 2022|issn=0362-4331|archive-date=January 30, 2022|archive-url=https://web.archive.org/web/20220130073206/https://www.nytimes.com/1967/08/03/archives/the-astor-a-lady-to-the-end-resists-the-wreckers-advances-crews-are.html|url-status=live}}</ref> The hotel was not completely demolished until February 1968.<ref>{{Cite news|last=Herzberg|first=Joseph G.|date=February 24, 1968|title=' Meet Me at the Astor' Now Just Whisper of Past|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/02/24/archives/-meet-me-at-the-astor-now-just-whisper-of-past.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015429/https://www.nytimes.com/1968/02/24/archives/-meet-me-at-the-astor-now-just-whisper-of-past.html|url-status=live}}</ref>
In January 1967, Kahn and Jacobs announced that Minskoff's tower, One Astor Plaza, would be 50 stories tall with a facade of stone and tinted glass.<ref name="nyt-1967-01-05" /> There would be a {{convert|125|ft|m|-deep|adj=mid}} plaza along Broadway, as well as plazas along the sides and rear, to comply with the 1961 Zoning Resolution.<ref name="nyt-1967-01-05" /><ref name="Stern (1995) p. 444">{{harvnb|Stern|Mellins|Fishman|1995|ps=.|p=444}}</ref> The Minskoffs requested zoning amendments to allow the construction of an office building, as well as a modification of the site's sky exposure plane{{efn|In New York City, the wall of any given tower that faces a street could only rise to a certain height, proportionate to the street's width. Above this height, the building had to be set back by a given proportion, the sky exposure plane.<ref>{{cite web | title=Zoning: About Zoning – Glossary of Zoning Terms – DCP | website=Welcome to NYC.gov | date=September 27, 1962 | url=https://www1.nyc.gov/site/planning/zoning/glossary.page | access-date=February 5, 2022 | archive-date=February 5, 2022 | archive-url=https://web.archive.org/web/20220205005659/https://www1.nyc.gov/site/planning/zoning/glossary.page | url-status=live |postscript=none}}; {{cite book|last=Kayden|first=Jerold S.|url=https://books.google.com/books?id=OpeNSAfYASoC&pg=PA9|title=Privately Owned Public Space: The New York City Experience|author2=The Municipal Art Society of New York|publisher=Wiley|year=2000|isbn=978-0-471-36257-9|page=8}}</ref> }} to maximize the amount of office space that faced Broadway.<ref name="Stern (1995) p. 444" /> At the time, city officials were encouraging the westward expansion of office towers in Manhattan. There were few efforts to preserve existing Broadway theaters, since theatrical experts believed the existing theaters (all built before World War II) were functionally obsolete.<ref name="Stern (1995) p. 444" /><ref>{{cite magazine|last=Schroeder|first=Robert J.|date=April 21, 1969|title=Broadway's Theatres: 'Too Valuable to Keep'|url=https://books.google.com/books?id=qdsCAAAAMBAJ|magazine=New York Magazine|volume=2|pages=47–48|access-date=February 9, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205005659/https://books.google.com/books?id=qdsCAAAAMBAJ|url-status=live}}</ref> Consequently, the plans for One Astor Plaza initially did not include a theater.<ref name="nyt-1970-06-21" /><ref name="Stern (1995) p. 444" /> The Minskoffs' application for zoning amendments would have been a routine matter, but a member of the New York City Planning Commission (CPC) notified the Urban Design Group (UDG) about the application. This brought the attention of New York City mayor John Lindsay, a fan of Broadway theater.<ref name="Stern (1995) p. 444" />
==== Theater efforts ==== The UDG proposed that One Astor Plaza include a theater, a suggestion that the Minskoffs initially opposed. The family brought their concerns to CPC chairman Donald H. Elliott, who supported the theater, then to mayor Lindsay, who not only endorsed the CPC and UDG but convinced the Minskoffs to include a theater in their tower. The Minskoffs then submitted several alternative plans for a tower on the Astor site.<ref name="Stern (1995) p. 444" /> The first such plan called for a tower that had twice the site's maximum floor area ratio, with a theater in the back. A second plan called for a tower, which Richard Weinstein of the UDG subsequently recalled as "a mindless, ominous, faceless structure, legal under existing zoning, with two low, clawlike appendages [...] pinching a small plaza between them".<ref name="Stern (1995) p. 444" /><ref>{{cite book|last=McQuade|first=Walter|url=https://books.google.com/books?id=vZE1wAEACAAJ|title=Cities Fit to Live In and How We Can Get Them: Recent Articles on the Urban Environment|publisher=Macmillan|year=1971|page=96|access-date=February 9, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205172224/https://books.google.com/books?id=vZE1wAEACAAJ|url-status=live}}</ref> Though Weinstein said he initially remembered "feeling very depressed" at the Minskoffs' tower-with-theater plans, Elliott was "elated", saying: "I think you guys have got your theater".<ref name="Stern (1995) p. 444" /><ref name="Barnett 1974">{{cite book|last=Barnett|first=Jonathan|url=https://books.google.com/books?id=0jlqAAAAIAAJ|title=Urban Design as Public Policy: Practical Methods for Improving Cities|publisher=Architectural Record Books|year=1974|isbn=978-0-07-003766-3|series=Architectural Record Books|page=21|access-date=February 9, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205172158/https://books.google.com/books?id=0jlqAAAAIAAJ|url-status=live}}</ref> When Weinstein expressed his doubts about the building's floor area, Elliott responded: "Oh, that. That just shows they're ready to negotiate."<ref name="Barnett 1974" />
In October 1967, the CPC proposed the Special Theater District Zoning Amendment, which gave zoning bonuses to office-building developers who included theaters.<ref>{{cite magazine|date=October 6, 1967|title=City Planning Comm. Proposes More New Midtown Theatres|volume=8|issue=40|pages=17–18|id={{ProQuest|963261958}}|magazine=Back Stage|issn=0005-3635|postscript=none}}; {{Cite news|last=Esterow|first=Milton|date=October 1, 1967|title=City Proposes More Theaters To Revitalize Midtown District; City Planners Proposing More Theaters to Revitalize Midtown District|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/10/01/archives/city-proposes-more-theaters-to-revitalize-midtown-district-city.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 4, 2022|archive-url=https://web.archive.org/web/20220204225913/https://www.nytimes.com/1967/10/01/archives/city-proposes-more-theaters-to-revitalize-midtown-district-city.html|url-status=live|postscript=none}}; {{cite magazine|date=October 4, 1967|title=Legitimate: N.Y. City Urges New Legit Houses|volume=248|issue=7|pages=57|id={{ProQuest|964067553}}|magazine=Variety|issn=0042-2738}}</ref> The proposed legislation would directly allow theaters in One Astor Plaza and the Uris Building,<ref name="Miele 1967">{{Cite news|last=Miele|first=Alfred|date=November 2, 1967|title=OK Space Bonus For New Theaters|pages=721, [https://www.newspapers.com/clip/94233019/ 722]|work=New York Daily News|issn=2692-1251|via=newspapers.com|url=https://www.newspapers.com/clip/94233061/ok-space-bonus-for-new-theatersalfred/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205005658/https://www.newspapers.com/clip/94233061/ok-space-bonus-for-new-theatersalfred/|url-status=live}}</ref><ref>{{cite magazine|date=October 11, 1967|title=Miscellany: Hope for More B'way Legit Theatres With Bldg. Code Changes|volume=248|issue=8|pages=2|id={{ProQuest|964074887}}|magazine=Variety|issn=0042-2738}}</ref> which would be the first completely new Broadway theaters since the Mark Hellinger Theatre was completed in 1930.<ref name="nyt-1967-11-12">{{Cite news|last=Fried|first=Joseph P.|date=November 12, 1967|title=New Footlights May Brighten Rialto|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/11/12/archives/new-footlights-may-brighten-rialto.html|access-date=February 4, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205011002/https://www.nytimes.com/1967/11/12/archives/new-footlights-may-brighten-rialto.html|url-status=live}}</ref><ref name="Newsday 1968a">{{Cite news|date=April 18, 1968|title=City Planners OK 3 Theaters|pages=98|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94236805/city-planners-ok-3-theaters/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015429/https://www.newspapers.com/clip/94236805/city-planners-ok-3-theaters/|url-status=live}}</ref>{{efn|The Hellinger was initially a movie theater and did not become a Broadway venue until 1949. The Lunt-Fontanne Theatre and Palace Theatre were converted from movies to Broadway theaters afterward, but both theater buildings are physically older than the Hellinger.<ref name="nyt-1967-11-12" /> The last venue to be built as a Broadway theater, operating continuously in that capacity, was the Ethel Barrymore Theatre, completed in 1928.<ref name="nyt-1968-08-29" />}} The Minskoffs were allowed to build 47 stories as-of-right, or without any zoning bonuses,<ref>{{Cite news|last=Funke|first=Lewis|date=October 15, 1967|title=New Theaters, New Hopes|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/10/15/archives/new-theaters-new-hopes-new-theaters-new-theaters.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205005703/https://www.nytimes.com/1967/10/15/archives/new-theaters-new-hopes-new-theaters-new-theaters.html|url-status=live}}</ref> but the Minskoffs could add {{convert|125000|ft2}} in exchange for building a Broadway theater.<ref name="nyt-1970-06-21" /> The CPC approved the theater amendment that November,<ref name="PA p. 77" /><ref name="Miele 1967" /><ref>{{Cite news|date=November 2, 1967|title=Planning Body Acts to Spur Theater Construction|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/11/02/archives/planning-body-acts-to-spur-theater-construction.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205005701/https://www.nytimes.com/1967/11/02/archives/planning-body-acts-to-spur-theater-construction.html|url-status=live}}</ref> and the New York City Board of Estimate gave final approval to the proposal the next month.<ref>{{Cite news|last=Sibley|first=John|date=December 8, 1967|title=Board of Estimate Approves Measure to Encourage Theater Construction|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/12/08/archives/board-of-estimate-approves-measure-to-encourage-theater.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205005659/https://www.nytimes.com/1967/12/08/archives/board-of-estimate-approves-measure-to-encourage-theater.html|url-status=live}}</ref><ref name="Newsday 1968">{{Cite news|date=April 1, 1968|title=City Planners to Mull Office Bldg. Theaters|pages=68|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94236640/city-planners-to-mull-office-bldg/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015431/https://www.newspapers.com/clip/94236640/city-planners-to-mull-office-bldg/|url-status=live}}</ref> As planning progressed, members of the Broadway-theatre industry expressed concerns that theatrical experts had not been consulted in the design of One Astor Plaza's theater.<ref>{{cite magazine|last=Hummler|first=Richard|date=February 28, 1968|title=Legitimate: Doubt N.Y. Theatre Plans|volume=250|issue=2|pages=57|id={{ProQuest|1014844508}}|magazine=Variety|issn=0042-2738}}</ref>
The Lehman Brothers became partners in One Astor Plaza in March 1968.<ref name="nyt-1968-03-22" /><ref>{{cite magazine|date=March 27, 1968|title=Vaudeville: Lehmans, Minskoffs Partnered in Astor|volume=250|issue=6|pages=94|id={{ProQuest|1017153922}}|magazine=Variety|issn=0042-2738}}</ref> At the time, the vacant site was being used for parking, since the Minskoffs were requesting city approval for another modification that would allow a movie theater to be built in the basement.<ref name="nyt-1968-03-22" /> The next month, the CPC scheduled a public hearing to determine whether the Astor and Uris theater permits should be approved, including a second theater in the Uris Building.<ref name="Newsday 1968" /> Six parties testified in favor; the Shubert Organization, the largest operator of Broadway theaters, was the only dissenting speaker.<ref>{{Cite news|last=Bennett|first=Charles G.|date=April 11, 1968|title=Shuberts Oppose 2 New Theaters; Minskoff and Uris Plans Are Fought at City Hearing|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/04/11/archives/shuberts-oppose-2-new-theaters-minskoff-and-uris-plans-are-fought.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015431/https://www.nytimes.com/1968/04/11/archives/shuberts-oppose-2-new-theaters-minskoff-and-uris-plans-are-fought.html|url-status=live}}</ref> The CPC approved the theater over the Shuberts' objections,<ref name="Newsday 1968a" /><ref>{{Cite news|date=April 18, 1968|title=Permits Approved for 2 Theaters; Playhouses Will Be First on Broadway in 35 Years|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/04/18/archives/permits-approved-for-2-theaters-playhouses-will-be-first-on.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015436/https://www.nytimes.com/1968/04/18/archives/permits-approved-for-2-theaters-playhouses-will-be-first-on.html|url-status=live}}</ref> as did the Board of Estimate.<ref>{{Cite news|last=Bennett|first=Charles G.|date=April 26, 1968|title=Board Approves 3 New Theaters; Estimate Members Reject Shubert Opposition|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/04/26/archives/board-approves-3-new-theaters-estimate-members-reject-shubert.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015438/https://www.nytimes.com/1968/04/26/archives/board-approves-3-new-theaters-estimate-members-reject-shubert.html|url-status=live}}</ref> In the meantime, the vacant lot was used in September 1968 for a benefit for the film ''Funny Girl'', hosted by Barbra Streisand.<ref>{{Cite news|date=September 14, 1968|title=1,200 Invited to Block Party After 'Funny Girl' Premiere|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/09/14/archives/1200-invited-to-block-party-after-funny-girl-premiere.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015434/https://www.nytimes.com/1968/09/14/archives/1200-invited-to-block-party-after-funny-girl-premiere.html|url-status=live|postscript=none}}; {{Cite news|last=Goldstein|first=Marilyn|date=September 19, 1968|title=A Big Bash for Barbra at – the Astor|pages=96|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94275075/a-big-bash-for-barbra-at-the/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205838/https://www.newspapers.com/clip/94275075/a-big-bash-for-barbra-at-the/|url-status=live}}</ref> Albert W. Selden had tentatively agreed to lease the Broadway theater in One Astor Plaza.<ref name="nyt-1968-08-29">{{Cite news|last=Zolotow|first=Sam|date=August 29, 1968|title=Astor Lot Owner Assigns Theater; Lease Going to Producer of 'Man of La Mancha'|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/08/29/archives/astor-lot-owner-assigns-theater-lease-going-to-producer-of-man-of.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205172347/https://www.nytimes.com/1968/08/29/archives/astor-lot-owner-assigns-theater-lease-going-to-producer-of-man-of.html|url-status=live}}</ref><ref>{{cite magazine|last=Hummler|first=Richard|date=September 4, 1968|title=Legitimate: Rising Market for B'way Theatres; Selden, Osterman Vs. Nederlanders|volume=252|issue=3|pages=49, 52|id={{ProQuest|1017161365}}|magazine=Variety|issn=0042-2738}}</ref> The building was to contain {{Convert|1.4|e6ft2}} across 54 floors, including three restaurants and the two theaters.<ref name="Boxoffice 1969">{{cite magazine|date=January 27, 1969|title=Broadway's First New Theatre Since 1933 to Be Built by Walter Reade|volume=94|issue=15|page=E1|id={{ProQuest|1476108127}}|magazine=Boxoffice}}</ref>
=== Construction === thumb|Studios at base Mayor Lindsay attended the groundbreaking ceremony for One Astor Plaza on October 10, 1968.<ref>{{Cite news|date=October 11, 1968|title=Construction Starts on Astor Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/10/11/archives/construction-starts-on-astor-plaza.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205015434/https://www.nytimes.com/1968/10/11/archives/construction-starts-on-astor-plaza.html|url-status=live|postscript=none}}; {{cite magazine|date=October 16, 1968|title=Legitimate: Break Ground for N.Y. Astor Plaza; Plan Theatre With Single Balcony; Seek Cleanup of Honkytonk 42d St|volume=252|issue=9|pages=67|id={{ProQuest|1505849676}}|magazine=Variety|issn=0042-2738}}</ref> One Astor Plaza was one of 23 major office projects underway in New York City at the time.<ref>{{cite news|last=Ennis|first=Thomas W.|date=January 5, 1969|title=Offices Due To Fill Need Here by '71: Office Tenants to Get Choice of Space in 23 Buildings Planned by '71|page=R1|work=The New York Times|issn=0362-4331|id={{ProQuest|118784390}}}}</ref> During excavation, the contractors bored holes up to {{convert|10|ft}} deep, then placed dynamite sticks in the holes, covering the openings with {{convert|14|by|14|ft|adj=on}} blasting mats before detonating the dynamite. As part of an agreement with the Shubert Organization, the blasts did not occur when there were matinee performances at the Shubert Theatre and other nearby theaters.<ref>{{Cite news|last=Johnston|first=Richard J. H.|date=February 6, 1969|title=Dynamiting Adds to Times Square Din|language=en-US|work=The New York Times|url=https://www.nytimes.com/1969/02/06/archives/dynamiting-adds-to-times-square-din.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205839/https://www.nytimes.com/1969/02/06/archives/dynamiting-adds-to-times-square-din.html|url-status=live}}</ref> The 1,562-seat movie theater was leased in January 1969 by Walter Reade, who also planned to operate the fourth through ninth floors of offices.<ref name="Boxoffice 1969" /><ref>{{Cite news|date=January 23, 1969|title=News of Realty: First Astor Lease; Reade to Operate Theatre and Occupy 6 Floors|language=en-US|work=The New York Times|url=https://www.nytimes.com/1969/01/23/archives/news-of-realty-first-astor-lease-reade-to-operate-theatre-and.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205838/https://www.nytimes.com/1969/01/23/archives/news-of-realty-first-astor-lease-reade-to-operate-theatre-and.html|url-status=live|postscript=none}}; {{cite magazine|date=January 22, 1969|title=Pictures: Astor Place Film Situation: The Reade|volume=253|issue=10|pages=16|id={{ProQuest|962943253}}|magazine=Variety|issn=0042-2738}}</ref> Fawcett Publications signed a long-term lease for three floors in One Astor Plaza that February,<ref>{{Cite news|last=Fowler|first=Glenn|date=February 3, 1969|title=News of Realty: Astor Plaza Lease; Fawcett Publications Signs for 3 Floors on Times Sq.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1969/02/03/archives/news-of-realty-astor-plaza-lease-fawcett-publications-signs-for-3.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205844/https://www.nytimes.com/1969/02/03/archives/news-of-realty-astor-plaza-lease-fawcett-publications-signs-for-3.html|url-status=live}}</ref> followed the next month by Quality Bakers of America's lease of two floors.<ref>{{Cite news|date=March 11, 1969|title=News of Realty: Times Sq. Lease; Quality Bakers Takes Two Floors at One Astor Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1969/03/11/archives/jews-of-realty-times-sq-lease-quality-bakers-takes-two-floors-at.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205842/https://www.nytimes.com/1969/03/11/archives/jews-of-realty-times-sq-lease-quality-bakers-takes-two-floors-at.html|url-status=live}}</ref> Work on One Astor Plaza temporarily stopped in July 1969 due to a labor strike.<ref>{{Cite news|last=Phalon|first=Richard|date=July 24, 1969|title=Teamsters Strike High-Rise Building Sites Here; Work Stoppages Reported by Most Contractors as 200 Block Deliveries|language=en-US|work=The New York Times|url=https://www.nytimes.com/1969/07/24/archives/teamsters-strike-highrise-building-sites-here-work-stoppages.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205839/https://www.nytimes.com/1969/07/24/archives/teamsters-strike-highrise-building-sites-here-work-stoppages.html|url-status=live}}</ref>
The project faced some delays due to the inclusion of the Broadway theater at the building's base,<ref name="nyt-1970-06-21" /><ref name="Harmon 1970">{{cite magazine|last=Harmon|first=Charlotte|date=August 28, 1970|title=New B'way Houses|volume=11|issue=35|pages=24|id={{ProQuest|963158354}}|magazine=Back Stage|issn=0005-3635}}</ref> as well as rising costs and decreasing demand for office space.<ref name="Morrison 1970">{{Cite news|last=Morrison|first=Hobe|date=July 20, 1970|title=Complications Accumulate for Astor Plaza Theater|pages=21|work=The Journal News|via=newspapers.com|url=https://www.newspapers.com/clip/94293231/complications-accumulate-for-astor/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233415/https://www.newspapers.com/clip/94293231/complications-accumulate-for-astor/|url-status=live}}</ref> Although Minskoff & Sons president Jerome Minskoff had agreed to the theater as "our way of paying the city back", he said this had increased costs by up to 30 percent, from $55 to $70 million.<ref name="nyt-1970-06-21" /><ref name="Harmon 1970" /> Furthermore, Selden insisted that a modern technical system be installed in the new theater, which would add $400,000 to the cost.<ref name="Morrison 1970" /> A fire broke out on the upper stories in August 1970,<ref>{{Cite news|date=August 19, 1970|title=Firemen Climb 46 Flights To Put Out Times Sq. Blaze|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/08/19/archives/firemen-climb-46-flights-to-put-out-times-sq-blaze.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205234800/https://www.nytimes.com/1970/08/19/archives/firemen-climb-46-flights-to-put-out-times-sq-blaze.html|url-status=live}}</ref> and glass fell from the building during two separate incidents that November, when facade installation was progressing on the lower stories.<ref name="nyt-1970-11-29">{{Cite news|last=Andelman|first=David A.|date=November 29, 1970|title=Glass Crashing From Building Forces Closing of 44th Street|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/11/29/archives/glass-crashing-from-building-forces-closing-of-44th-street.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205840/https://www.nytimes.com/1970/11/29/archives/glass-crashing-from-building-forces-closing-of-44th-street.html|url-status=live}}</ref> Several glass panes fell on November 5,<ref>{{Cite news|date=November 6, 1970|title=High Winds Force Closing Of a Block Off Times Sq.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/11/06/archives/high-winds-force-closing-of-a-block-off-times-sq.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233417/https://www.nytimes.com/1970/11/06/archives/high-winds-force-closing-of-a-block-off-times-sq.html|url-status=live}}</ref> and a worker was injured on November 29 when glass panes fell during a heavy wind.<ref name="nyt-1970-11-29" /> The two incidents prompted an investigation,<ref>{{Cite news|last=Fosburgh|first=Lacey|date=November 30, 1970|title=Inquiry Is Set on Falling Glass at Construction Site|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/11/30/archives/inquiry-is-set-on-falling-glass-at-construction-site.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205846/https://www.nytimes.com/1970/11/30/archives/inquiry-is-set-on-falling-glass-at-construction-site.html|url-status=live}}</ref> but the city's acting buildings commissioner could not find a clear cause for the falling glass.<ref>{{Cite news|date=December 2, 1970|title=What Made Glass Fall in Times Sq.? Inquirers Puzzled|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/12/02/archives/what-made-glass-fall-in-times-sq-inquirers-puzzled.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205850/https://www.nytimes.com/1970/12/02/archives/what-made-glass-fall-in-times-sq-inquirers-puzzled.html|url-status=live}}</ref>
By 1970, a combined {{convert|5|e6ft2}} of office space was being developed along Broadway in Midtown, much of which stood vacant due to a slowdown in office leasing.<ref>{{cite news |id={{ProQuest|118913915}} |title=Broadway Buildings Fill Slowly In Rent Lag: Renting Is Slow on Broadway |first=Glenn |last=Fowler |date=December 20, 1970 |page=210 |work=The New York Times|issn=0362-4331}}</ref> W. T. Grant became the building's largest tenant in December 1970, leasing {{convert|400,000|ft2}},<ref>{{cite news|date=December 10, 1970|title=Grant to Move Headquarters To Times Square Area in '71|page=18|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|133455673}}}}</ref><ref name="Women's Wear Daily 1970">{{cite news|date=December 10, 1970|title=The Features: Grant's To Move Headquarters|volume=121|page=22|work=Women's Wear Daily|id={{ProQuest|1523514105}}}}</ref> including the entire 40th through 53rd floors.<ref name="nyt-1970-12-13">{{Cite news|last=Oser|first=Alan S.|date=December 13, 1970|title=Sublets Compete In Office Market; Big Lease Signed|language=en-US|work=The New York Times|url=https://www.nytimes.com/1970/12/13/archives/sublets-compete-in-office-market-big-lease-signed-office-space-for.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205205847/https://www.nytimes.com/1970/12/13/archives/sublets-compete-in-office-market-big-lease-signed-office-space-for.html|url-status=live}}</ref> In exchange, One Astor Plaza would be formally known as the W. T. Grant Building, and the company's name would be placed in large letters atop the building.<ref name="Women's Wear Daily 1970" /><ref>{{Cite news|date=December 18, 1970|title=W. T. Grant Firm Plans Move to New Structure|pages=32|work=The Troy Record|via=newspapers.com|url=https://www.newspapers.com/clip/94298482/w-t-grant-firm-plans-move-to-new/|access-date=February 5, 2022|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233419/https://www.newspapers.com/clip/94298482/w-t-grant-firm-plans-move-to-new/|url-status=live}}</ref> Simultaneously, the Minskoffs agreed to pay off the lease on W. T. Grant's existing office space at 1441 Broadway.<ref name="nyt-1970-12-13" /><ref>{{cite news|last=Stone|first=Richard|date=August 9, 1971|title=Room to Let: New York's Real Estate Industry Is Plagued By Recession, Overbuilding and Urban Ills|page=24|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|133596496}}}}</ref> The next month, the Walter Reade Organization sought to sublet all six floors of its own space.<ref>{{Cite news|last=Whitehouse|first=Franklin|date=January 22, 1971|title=Walter Reade Seeks to Sublet All Its Space in New 1 Astor Pl.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1971/01/22/archives/walter-reade-seeks-to-sublet-all-its-space-in-new-1-astor-pl.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233421/https://www.nytimes.com/1971/01/22/archives/walter-reade-seeks-to-sublet-all-its-space-in-new-1-astor-pl.html|url-status=live}}</ref> Bankers Trust leased a bank branch on the second story in March 1971.<ref name="The New York Times 1971" /> An internal newsletter in October 1971 described the tower as being "80 percent leased";<ref name="nyt-1973-03-27">{{Cite news|last=Blumenthal|first=Ralph|date=March 27, 1973|title=City Tax Records on Two Skyscrapers Granted Major Tax Reductions Show Apparent Discrepancies|language=en-US|work=The New York Times|url=https://www.nytimes.com/1973/03/27/archives/city-tax-records-on-two-skyscrapers-granted-major-tax-reductions.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011854/https://www.nytimes.com/1973/03/27/archives/city-tax-records-on-two-skyscrapers-granted-major-tax-reductions.html|url-status=live}}</ref> that rate had increased to 87 percent by the next month.<ref>{{Cite news|last=Johnston|first=Laurie|date=November 28, 1971|title=One Astor Plaza 87 Per Cent Rented|language=en-US|work=The New York Times|url=https://www.nytimes.com/1971/11/28/archives/one-astor-plaza-87-per-cent-rented.html|access-date=February 5, 2022|issn=0362-4331|archive-date=January 30, 2022|archive-url=https://web.archive.org/web/20220130073505/https://www.nytimes.com/1971/11/28/archives/one-astor-plaza-87-per-cent-rented.html|url-status=live}}</ref>
=== Completion and early years === thumb|Southern facade of One Astor Plaza as seen from ground level Fawcett Publications was the first tenant at the building, moving into the 12th through 16th floors<ref name="Whitman 1971" /> on May 26, 1971.<ref name="nyt-1973-03-27" /> One Astor Plaza was still incomplete at the time, but Fawcett's lease at its previous location had already expired, forcing the company to move into the building.<ref name="Whitman 1971">{{cite news|last=Whitman|first=Alden|date=June 6, 1971|title=Curtain Goes Up on Minskoff's Times Square Building: Curtain Rises at Building|page=R1|work=The New York Times|issn=0362-4331|id={{ProQuest|119308123}}}}</ref> The building was planned to be formally renamed that November when W. T. Grant moved in,<ref>{{cite magazine|last=Green|first=Abel|date=October 6, 1971|title=Miscellany: B' way Assn. Hits 60; Astor Plaza HQ To Be Named For Grant; Reade House Due; A1 Selden Legit Lease Pends|volume=264|issue=8|pages=2|id={{ProQuest|1017160278}}|magazine=Variety|issn=0042-2738}}</ref> but the company's relocation into the building was then delayed to mid-1972.<ref name="Kirk 1971" /> The movie theater in the basement was supposed to open in December 1971, but the opening was delayed indefinitely because of what Reade said were "construction difficulties beyond our control".<ref>{{Cite news|last=Calta|first=Louis|date=December 1, 1971|title=Debut of Reade, Cinema, Delayed|language=en-US|work=The New York Times|url=https://www.nytimes.com/1971/12/01/archives/debut-of-reade-cinema-delayed-dec-21-opening-at-astor-plaza-put-off.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233424/https://www.nytimes.com/1971/12/01/archives/debut-of-reade-cinema-delayed-dec-21-opening-at-astor-plaza-put-off.html|url-status=live}}</ref> Among these issues was Reade's concern that the auditorium needed to be insulated from the adjacent subway tunnels.<ref>{{cite news|last=Horsley|first=Carter B.|date=December 3, 1972|title=Times Square's New Movie Palace Scorns the Palatial: Times Square Theater|page=R1|work=The New York Times|issn=0362-4331|id={{ProQuest|119393250}}}}</ref> Shortly after the building was completed, a window-washing scaffold fell from One Astor Plaza's facade in March 1972, killing two workers.<ref>{{Cite news|last=Carmody|first=Deirdre|date=March 24, 1972|title=2 Die as Scaffold Falls at 1 Astor Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1972/03/24/archives/2-die-as-scaffold-falls-at-1-astor-plaza.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205234802/https://www.nytimes.com/1972/03/24/archives/2-die-as-scaffold-falls-at-1-astor-plaza.html|url-status=live}}</ref> The building's parking garage and three retail stores were leased in early 1972.<ref name="The New York Times 1972" /> Other tenants included the Bureau of Labor Statistics;<ref name="nyt-1986-11-06">{{Cite news|last=Dunlap|first=David W.|date=November 6, 1986|title=Column One: Changes; Blending In|language=en-US|work=The New York Times|url=https://www.nytimes.com/1986/11/06/nyregion/column-one-changes-blending-in.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214754/https://www.nytimes.com/1986/11/06/nyregion/column-one-changes-blending-in.html|url-status=live}}</ref> Billboard Publications, which leased one floor;<ref>{{Cite news|last=Horsley|first=Carter B.|date=April 2, 1972|title=Trade|language=en-US|work=The New York Times|url=https://www.nytimes.com/1972/04/02/archives/blue-shield-to-occupy-park-ave-building.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205234804/https://www.nytimes.com/1972/04/02/archives/blue-shield-to-occupy-park-ave-building.html|url-status=live}}</ref> and accounting firm Clarence Rainess & Co., which leased one and a half floors.<ref>{{Cite news|date=July 15, 1973|title=News of the Realty Trade|language=en-US|work=The New York Times|url=https://www.nytimes.com/1973/07/15/archives/metropolitan-fails-to-convert-riverton-news-of-the-realty-trade.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011856/https://www.nytimes.com/1973/07/15/archives/metropolitan-fails-to-convert-riverton-news-of-the-realty-trade.html|url-status=live|postscript=none}}; {{Cite news|date=July 28, 1973|title=Firm Will Rent at 1 Astor Plaza|pages=283|work=New York Daily News|issn=2692-1251|via=newspapers.com|url=https://www.newspapers.com/clip/94368925/firm-will-rent-at-1-astor-plaza/|access-date=February 6, 2022|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214748/https://www.newspapers.com/clip/94368925/firm-will-rent-at-1-astor-plaza/|url-status=live}}</ref>
By January 1973, the Minskoff was ready to open, but the basement cinema had not even been furnished yet because of continuing disputes over subway soundproofing.<ref>{{Cite news|last=Horsley|first=Carter B.|date=January 1, 1973|title=Subway Noise Threatens Reade Theater Opening|language=en-US|work=The New York Times|url=https://www.nytimes.com/1973/01/01/archives/subway-noise-threatens-reade-theater-opening-theater-across-street.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011859/https://www.nytimes.com/1973/01/01/archives/subway-noise-threatens-reade-theater-opening-theater-across-street.html|url-status=live}}</ref> The Minskoff Theatre officially opened on March 13, 1973.<ref>{{Cite news|last=Phillips|first=McCandlish|date=March 14, 1973|title=1919 Hit Opens Brand-New Theater|language=en-US|work=The New York Times|url=https://www.nytimes.com/1973/03/14/archives/1919-hit-opens-brandnew-theater-no-kings-court-on-a-clear-day-no.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011854/https://www.nytimes.com/1973/03/14/archives/1919-hit-opens-brandnew-theater-no-kings-court-on-a-clear-day-no.html|url-status=live}}</ref> Reade ended his lease of the basement movie theater the next month, citing financial difficulties.<ref>{{cite magazine|date=April 9, 1973|title=Reade Ends One Astor Plaza Lease|volume=102|issue=26|page=E2|id={{ProQuest|1476093018}}|magazine=Boxoffice|postscript=none}}; {{cite magazine|date=April 2, 1973|title=Reade Terminates|volume=71|issue=9|page=4|id={{ProQuest|1014667231}}|magazine=The Independent Film Journal}}</ref> Further issues concerned the building's valuation, which had been reduced from $45.3 to $40.8 million during 1971–1972; the reduction had been granted because the Minskoffs falsely stated that One Astor Plaza was mostly vacant.<ref name="nyt-1973-03-27" /> The building's name also caused problems, as mail addressed to "1 Astor Pl." could be meant either for the building in Times Square or a car-rental agency on Astor Place several miles south.<ref>{{Cite news|last=Tomasson|first=Robert E.|date=December 30, 1973|title=The 'Plaza' in Addresses Is Causing Dismay|language=en-US|work=The New York Times|url=https://www.nytimes.com/1973/12/30/archives/plaza-in-addresses-is-causing-dismay-unauthorized-designations-lead.html|access-date=February 6, 2022|issn=0362-4331|archive-date=October 29, 2021|archive-url=https://web.archive.org/web/20211029202612/https://www.nytimes.com/1973/12/30/archives/plaza-in-addresses-is-causing-dismay-unauthorized-designations-lead.html|url-status=live}}</ref>
The Loews movie chain leased the basement movie theater in April 1974,<ref name="nyt-1974-04-05" /><ref name="Boxoffice 1974" /> and the Loews Astor Plaza movie theater opened on June 25, 1974.<ref name="nyt-1974-06-26" /> That December, Ted Bates & Co. subleased some of its space to W. R. Grace and Company, Gralla Publications, and Nathan's Famous.<ref>{{Cite news|date=December 22, 1974|title=News of the Realty Trade|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/12/22/archives/bates-comdletes-astor-plaza-subleasing-news-of-the-realty-trade.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206011903/https://www.nytimes.com/1974/12/22/archives/bates-comdletes-astor-plaza-subleasing-news-of-the-realty-trade.html|url-status=live}}</ref> One Astor Plaza's anchor tenant W. T. Grant had gone bankrupt by late 1975 and initially planned to downsize to four and a half floors.<ref>{{cite news|date=November 11, 1975|title=New York Staff Is Cut By W.T. Grant Company|page=41|work=The New York Times|issn=0362-4331|id={{ProQuest|120264892}}}}</ref> However, W. T. Grant subsequently decided to leave the building altogether,<ref>{{Cite news|last=Barmash|first=Isadore|date=December 12, 1975|title=W. T. Grant Said to Be Leaving Times Square Site Early in '76|language=en-US|work=The New York Times|url=https://www.nytimes.com/1975/12/12/archives/wt-grant-said-to-be-leaving-times-square-site-early-in-76-grant.html|access-date=February 5, 2022|issn=0362-4331|archive-date=February 5, 2022|archive-url=https://web.archive.org/web/20220205233418/https://www.nytimes.com/1975/12/12/archives/wt-grant-said-to-be-leaving-times-square-site-early-in-76-grant.html|url-status=live|postscript=none}}; {{cite news|date=December 18, 1975|title=Grant Plans to Close 134 More Stores, Shift Its Manhattan Offices|page=24|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|133989640}}}}</ref> so the company's signage was removed from One Astor Plaza in March 1976.<ref name="nyt-1976-03-13" /> This created about {{convert|330000|ft2}} of vacant space, about a quarter of the whole building.<ref name="Oser 1979">{{cite news|last=Oser|first=Alan|date=July 4, 1979|title=About Real Estate: Times Square Office Space Filling Rapidly|page=A10|work=The New York Times|issn=0362-4331|id={{ProQuest|120818575}}}}</ref> The third floor was also reconstructed in 1976 to accommodate the Minskoff Recording Studios.<ref name="Madden 1976" />
Research firm Frederick Atkins Inc. leased four floors of the former W. T. Grant space in March 1977.<ref>{{Cite news|date=March 13, 1977|title=Times Square Lease|language=en-US|work=The New York Times|url=https://www.nytimes.com/1977/03/13/archives/times-square-lease.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206012917/https://www.nytimes.com/1977/03/13/archives/times-square-lease.html|url-status=live}}</ref> The New York Telephone Company took another four floors in May 1979.<ref>{{Cite news|date=May 5, 1979|title=N.Y. Telephone Co. signs for Astor Plaza|pages=258|work=New York Daily News|issn=2692-1251|via=newspapers.com|url=https://www.newspapers.com/clip/94371918/ny-telephone-co-signs-for-astor-plaza/|access-date=February 6, 2022|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214746/https://www.newspapers.com/clip/94371918/ny-telephone-co-signs-for-astor-plaza/|url-status=live}}</ref> By then, most of the building's vacant space had been filled; the other tenants included CBS and the New York State Urban Development Corporation (UDC).<ref name="Oser 1979" /> Also in 1979, the architectural firm of Battaglia, Seckler completed a three-story complex for the Alvin Ailey American Dance Theater within One Astor Plaza. The complex included a reception room, a lounge, changing rooms, and four studios overlooking 45th Street. In addition, the Alvin Ailey dance school operated within a space off the Minskoff Arcade.<ref>{{Cite news|date=October 19, 1979|title=Alvin Ailey Gets New Headquarters|language=en-US|work=The New York Times|url=https://www.nytimes.com/1979/10/19/archives/alvin-ailey-gets-new-headquarters.html|access-date=February 8, 2022|issn=0362-4331|archive-date=February 8, 2022|archive-url=https://web.archive.org/web/20220208153322/https://www.nytimes.com/1979/10/19/archives/alvin-ailey-gets-new-headquarters.html|url-status=live}}</ref> A theater museum was also being planned for the arcade at the time.<ref>{{Cite news|last=Lask|first=Thomas|date=November 5, 1979|title=Theater District to Get A Museum All Its Own|language=en-US|work=The New York Times|url=https://www.nytimes.com/1979/11/05/archives/theater-district-to-get-a-museum-all-its-own-a-remarkable-amenity.html|access-date=February 9, 2022|issn=0362-4331|archive-date=February 9, 2022|archive-url=https://web.archive.org/web/20220209025338/https://www.nytimes.com/1979/11/05/archives/theater-district-to-get-a-museum-all-its-own-a-remarkable-amenity.html|url-status=live}}</ref> One Astor Plaza was fully rented by 1980.<ref>{{Cite news|last=Horsley|first=Carter B.|date=January 18, 1981|title=Minskoffs Set the Stage for New Office Projects|language=en-US|work=The New York Times|url=https://www.nytimes.com/1981/01/18/realestate/minskoffs-set-the-stage-for-new-office-projects.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206055345/https://www.nytimes.com/1981/01/18/realestate/minskoffs-set-the-stage-for-new-office-projects.html|url-status=live}}</ref> Two years later, the Museum of the City of New York opened a museum in the ground-story arcade, dedicated to the history of Broadway theater.<ref name="nyt-1986-06-17" />
=== Equitable ownership === ====Acquisition and increased rents==== thumb|Center stories One Astor Plaza was sold in July 1984 to Tishman Speyer and the Equitable Life Assurance Society. The price was variously cited as $190 million,<ref name="nyt-1984-07-25" /> $200 million,<ref>{{cite magazine |id={{ProQuest|1438412171}} |title=Legitimate: Astor Plaza Sold; Theater Is Staying |volume=315 |issue=11 |date=July 12, 1984 |pages=7 |magazine=Variety|issn=0042-2738}}</ref> $202 million,<ref name="Wall Street Journal 1984">{{cite news|date=July 5, 1984|title=Times Square Building Sold to Equitable Life And Tishman Speyer|page=1|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|397861505}}}}</ref> or $210 million.<ref name="Kleege 1990">{{cite news|last=Kleege|first=Stephen|date=October 31, 1990|title=Hanover Lawsuit Focuses on Equitable's Guarantee|page=22|work=The American Banker|id={{ProQuest|293000808}}}}</ref> The sale included a contract between the Minskoffs and a joint venture of The Related Companies and Shearson/American Express, which in turn sold its contract to Tishman Speyer and Equitable.<ref name="nyt-1984-07-25" /><ref name="Wall Street Journal 1984" /> According to Jerry Speyer of Tishman Speyer, he had decided to buy the building after coming across Related president Stephen M. Ross during a morning jog.<ref name="nyt-1984-07-25">{{Cite news|last=DePalma|first=Anthony|date=July 25, 1984|title=About Real Estate; Broadway's 1 Astor Plaza Is Sold in Syndication Deal|language=en-US|work=The New York Times|url=https://www.nytimes.com/1984/07/25/business/about-real-estate-broadway-s-1-astor-plaza-is-sold-in-syndication-deal.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206055344/https://www.nytimes.com/1984/07/25/business/about-real-estate-broadway-s-1-astor-plaza-is-sold-in-syndication-deal.html|url-status=live}}</ref> At the time, the real estate market in New York City was growing, and Equitable had projected that the building would generate $40 million in gross income by 1991.<ref name="nyt-1994-03-27" /> In 1985, Tishman Speyer formed a limited partnership, 1515 Broadway Associates LP, to assume ownership of the building; the partnership's only asset was One Astor Plaza.<ref name="nyt-1990-10-30">{{Cite news|last=Hylton|first=Richard D.|date=October 30, 1990|title=Equitable Move Stuns Limited Partners|language=en-US|work=The New York Times|url=https://www.nytimes.com/1990/10/30/business/equitable-move-stuns-limited-partners.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206220253/https://www.nytimes.com/1990/10/30/business/equitable-move-stuns-limited-partners.html|url-status=live}}</ref> The 25 limited partners, who gave a combined $77 million, were primarily executives at Bear Stearns.<ref name="Kleege 1990" /><ref name="nyt-1991-03-11" /> In exchange for a 30 percent stake in the building, Equitable agreed to be the general partner and guarantee 10 percent of the building's mortgage loan.<ref name="Barsky 1990">{{cite news|last=Barsky|first=Neil|date=October 30, 1990|title=Equitable Life Sued for $600 Million by New York Bank|page=C9|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|398250312}}}}</ref><ref name="nyt-1991-03-11">{{Cite news|last=Hylton|first=Richard D.|date=March 11, 1991|title=Big Bank and Equitable Life Clash Over a Deal Gone Sour|language=en-US|work=The New York Times|url=https://www.nytimes.com/1991/03/11/business/big-bank-and-equitable-life-clash-over-a-deal-gone-sour.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214756/https://www.nytimes.com/1991/03/11/business/big-bank-and-equitable-life-clash-over-a-deal-gone-sour.html|url-status=live}}</ref>
One Astor Plaza needed to be renovated to comply with modern building codes, including the addition of fire sprinklers and the removal of asbestos. The average rent for offices at One Astor Plaza was {{convert|8|$/ft2}}, far below the market rate, but Tishman Speyer and Equitable had planned to upgrade the building and raise rents.<ref name="nyt-1994-03-27">{{Cite news|last=Deutsch|first=Claudia H.|date=March 27, 1994|title=Commercial Property/1515 Broadway; A Reversal of Fortune for a Once-Bankrupt Building|language=en-US|work=The New York Times|url=https://www.nytimes.com/1994/03/27/realestate/commercial-property-1515-broadway-reversal-fortune-for-once-bankrupt-building.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206185027/https://www.nytimes.com/1994/03/27/realestate/commercial-property-1515-broadway-reversal-fortune-for-once-bankrupt-building.html|url-status=live}}</ref> Consequently, the Minskoff Recording Studios were nearly evicted in October 1984,<ref name="Lueck 1988" /> but the studio's operators negotiated a concession in which the studio would pay {{convert|10|$/ft2}}.<ref name="Fetherston 1989" /> The Alvin Ailey American Dance Theatre was also nearly forced out because of the increasing rents.<ref>{{Cite news|last=Dunning|first=Jennifer|date=August 22, 1985|title=Real-estate Surge Imperils Small Dance Studios|language=en-US|work=The New York Times|url=https://www.nytimes.com/1985/08/22/arts/real-estate-surge-imperils-small-dance-studios.html|access-date=February 9, 2022|issn=0362-4331|archive-date=February 9, 2022|archive-url=https://web.archive.org/web/20220209023836/https://www.nytimes.com/1985/08/22/arts/real-estate-surge-imperils-small-dance-studios.html|url-status=live}}</ref> The theater museum in the ground-story arcade was closed in 1986 due to low attendance.<ref name="nyt-1986-06-17" /> Despite the success of the third-floor Minskoff Studios, they were in danger of eviction by 1988,<ref name="Lueck 1988" /><ref>{{Cite news|last=Brenna|first=Susan|date=October 30, 1988|title=Headed for Final Rehearsals?|pages=340|work=Newsday|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94368714/headed-for-final-rehearsalssusan/|access-date=February 6, 2022|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214746/https://www.newspapers.com/clip/94368714/headed-for-final-rehearsalssusan/|url-status=live}}</ref> and they ultimately closed the next year.<ref name="Fetherston 1989" /> The building's rising rents also displaced the Bureau of Labor Statistics in 1986<ref name="nyt-1986-11-06" /> and the Alvin Ailey American Dance Theater in 1989.<ref>{{Cite news|last=Kennedy|first=Shawn G.|date=November 1, 1989|title=Real EstateShawn G. Kennedy; Dance Group Moves Off Broadway|language=en-US|work=The New York Times|url=https://www.nytimes.com/1989/11/01/business/real-estateshawn-g-kennedy-dance-group-moves-off-broadway.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214752/https://www.nytimes.com/1989/11/01/business/real-estateshawn-g-kennedy-dance-group-moves-off-broadway.html|url-status=live}}</ref>
==== Bankruptcy and improvements ==== Tishman Speyer then renovated the lobby and elevators in 1989.<ref>{{Cite news|last=Kennedy|first=Shawn G.|date=May 17, 1989|title=Real Estate; Renovation Of Buildings On Times Sq.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1989/05/17/business/real-estate-renovation-of-buildings-on-times-sq.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214750/https://www.nytimes.com/1989/05/17/business/real-estate-renovation-of-buildings-on-times-sq.html|url-status=live}}</ref> The same year, Viacom International Inc. negotiated to lease several stories in One Astor Plaza for 20 years.<ref name="nyt-1994-03-27" /><ref name="LeBow 1989">{{cite news|last=LeBow|first=Joan|date=February 6, 1989|title=Viacom Negotiates $500 Million Lease In New York City|page=1|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|398140758}}}}</ref> The company planned to occupy {{convert|400000|ft2}} initially, with an option to expand by another {{convert|200000|ft2}}.<ref name="LeBow 1989" /> Though the building's owners hoped to gain additional large tenants, they did not sign another lease for 14 months after the Viacom lease. Furthermore, several existing tenants including Diamandis Communications and Ted Bates Worldwide were moving out, leaving the owners without enough income to make further improvements to the building.<ref name="nyt-1994-03-27" /> Nonetheless, Viacom moved into One Astor Plaza in 1990 and was one of several companies to take up large amounts of space in Times Square.<ref>{{Cite news|last=Feiden|first=Douglas|date=November 17, 2014|title=Vacancy Is Opportunity at 4 Times Square|language=en-US|work=Wall Street Journal|url=https://online.wsj.com/articles/vacancy-is-opportunity-at-4-times-square-1416188200|access-date=February 7, 2022|issn=0099-9660|archive-date=December 1, 2014|archive-url=https://web.archive.org/web/20141201185644/http://online.wsj.com/articles/vacancy-is-opportunity-at-4-times-square-1416188200|url-status=live}}</ref>
1515 Broadway Associates LP filed for Chapter 11 bankruptcy protection in October 1990,<ref>{{Cite news|agency=Reuters|date=October 16, 1990|title=1515 Broadway In Chapter 11|language=en-US|work=The New York Times|url=https://www.nytimes.com/1990/10/16/business/1515-broadway-in-chapter-11.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214750/https://www.nytimes.com/1990/10/16/business/1515-broadway-in-chapter-11.html|url-status=live}}</ref><ref name="Grant 1990">{{cite magazine|last=Grant|first=Peter|date=November 5, 1990|title=Grueling Workout: Hard Times Change the Game|volume=6|issue=45|page=18|id={{ProQuest|219130791}}|magazine=Crain's New York Business}}</ref> shortly after Tishman Speyer gave up its general-partnership interest.<ref name="nyt-1990-10-30" /> The main reason for the Chapter 11 filing was so Equitable could renegotiate the 13.6 percent interest rate on the building's mortgage.<ref name="nyt-1990-10-30" /><ref name="Grant 1990" /> An Equitable official said at the time that the partnership had lost $30 million a year for the past several years, and the rental income could not cover the mortgage payments.<ref name="nyt-1990-10-30" /> As a result of the Chapter 11 proceeding, ownership of One Astor Plaza reverted to Manufacturers Hanover Trust, one of several banks that had collectively lent $300 million to the partnership. Shortly afterward, Manufacturers Hanover sued Equitable for $600 million, claiming that Equitable had backtracked on an agreement to cover the partners' cash deficit.<ref name="Kleege 1990" /><ref name="Barsky 1990" /><ref>{{Cite news|date=October 31, 1990|title=Bank Sues Equitable Life|language=en-US|work=The New York Times|url=https://www.nytimes.com/1990/10/31/business/bank-sues-equitable-life.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206220251/https://www.nytimes.com/1990/10/31/business/bank-sues-equitable-life.html|url-status=live}}</ref> Manufacturers Hanover also claimed that Tishman Speyer's chief executive, Gerald Speyer, had opposed a bankruptcy proceeding.<ref name="nyt-1991-03-11" /> At a court hearing in March 1991, an Equitable official testified that he had misled the limited partners so they did not know about Equitable's intention to file for bankruptcy protection until it had already happened.<ref>{{Cite news|last=Hylton|first=Richard D.|date=March 12, 1991|title=Equitable Officer Tells Court He Lied|language=en-US|work=The New York Times|url=https://www.nytimes.com/1991/03/12/business/equitable-officer-tells-court-he-lied.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206232834/https://www.nytimes.com/1991/03/12/business/equitable-officer-tells-court-he-lied.html|url-status=live}}</ref>
Shortly after the court hearing, Manufacturers Hanover and Equitable agreed to a tentative settlement in which Equitable would extend a $95 million line of credit to the limited partners. In exchange, Manufacturers Hanover's lawsuit and Equitable's Chapter 11 filing would be withdrawn.<ref>{{Cite news|last=Hylton|first=Richard D.|date=March 16, 1991|title=Hanover Deal With Equitable|language=en-US|work=The New York Times|url=https://www.nytimes.com/1991/03/16/business/hanover-deal-with-equitable.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206232832/https://www.nytimes.com/1991/03/16/business/hanover-deal-with-equitable.html|url-status=live|postscript=none}}; {{cite news|last=Barsky|first=Neil|date=March 18, 1991|title=Equitable, Bank Close to Settling Real Estate Dispute|page=B7|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|135460870}}}}</ref> The bankruptcy filing was thus dropped in December 1991. Throughout these legal disputes, Equitable continued to maintain the building's services and attempted to not only retain existing occupants but also attract new tenants by providing favorable concessions.<ref name="nyt-1994-03-27" /> For example, a new advertising tenant received a non-disturbance agreement and a low rental rate,<ref>{{Cite news|last=Brooks|first=Andree|date=September 6, 1992|title=Commercial Property: Troubled Office Tenants; When an Owner Defaults, What of Past Promises?|language=en-US|work=The New York Times|url=https://www.nytimes.com/1992/09/06/realestate/commercial-property-troubled-office-tenants-when-owner-defaults-what-past.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206234239/https://www.nytimes.com/1992/09/06/realestate/commercial-property-troubled-office-tenants-when-owner-defaults-what-past.html|url-status=live}}</ref> and an existing merchandising tenant expanded its space in the building at a lower rental rate.<ref>{{cite magazine|last=Grant|first=Peter|date=March 23, 1992|title=Lower-Cost Space Harbinger of Revival|volume=8|issue=12|page=2|id={{ProQuest|219156324}}|magazine=Crain's New York Business}}</ref> Additionally, Equitable covered the brokers' fees and tenant-improvement charges for new tenants for several years. Equitable's success in leasing One Astor Plaza was also influenced by the lack of tenants at two newer developments nearby, 1540 and 1585 Broadway, during the early 1990s.<ref name="nyt-1994-03-27" />
==== Viacom takeover ==== thumb|Viacom (later Paramount) entrance, seen in 2019 After an acquisition of Paramount Communications by Viacom was proposed in 1993, deputy mayor Barry F. Sullivan said the move had "exciting potential for Times Square" because the company might move into One Astor Plaza.<ref>{{Cite news|last=Dunlap|first=David W.|date=September 16, 1993|title=Choreographing Times Sq. Into 21st Century|language=en-US|work=The New York Times|url=https://www.nytimes.com/1993/09/16/nyregion/choreographing-times-sq-into-21st-century.html|access-date=February 6, 2022|issn=0362-4331|archive-date=September 17, 2021|archive-url=https://web.archive.org/web/20210917183925/https://www.nytimes.com/1993/09/16/nyregion/choreographing-times-sq-into-21st-century.html|url-status=live}}</ref> Following Viacom's acquisition, Paramount relocated from 15 Columbus Circle to One Astor Plaza,<ref>{{cite magazine|last=Mirabella|first=Alan|date=February 21, 1994|title=Victorious Viacom takes center stage|volume=10|issue=8|page=1|id={{ProQuest|219132434}}|magazine=Crain's New York Business}}</ref> and the expanded Viacom took up 25 floors, housing subsidiaries such as Nickelodeon and MTV in the building.<ref>{{Cite news|last=Kennedy|first=Shawn G.|date=April 25, 1994|title=New Tenants Around Times Square; Vacancies Drop as Businesses Find Space to Fit Their Needs|language=en-US|work=The New York Times|url=https://www.nytimes.com/1994/04/25/nyregion/new-tenants-around-times-square-vacancies-drop-businesses-find-space-fit-their.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207000510/https://www.nytimes.com/1994/04/25/nyregion/new-tenants-around-times-square-vacancies-drop-businesses-find-space-fit-their.html|url-status=live}}</ref> Viacom thus became the tower's largest tenant, occupying {{convert|800,000|ft2}}, with options to take other floors as existing tenants' leases expired. Equitable had been able to remove the asbestos and rent nearly all the space at rates of around {{convert|30|to|39|$/ft2}}.<ref name="nyt-1994-03-27" /> Viacom received a tax incentive of $15 million to retain its offices at One Astor Plaza and three other buildings.<ref>{{cite news|last=Deutsch|first=Claudia|date=November 19, 1994|title=$15 Million Tax Break Keeps Viacom Jobs in New York|page=27|work=The New York Times|issn=0362-4331|id={{ProQuest|109375097}}}}</ref> The state UDC, which had occupied nine floors,<ref>{{Cite news|last=Oser|first=Alan S.|date=December 24, 1997|title=Commercial Real Estate; Nonprofit Agencies Help Fill a Tower|language=en-US|work=The New York Times|url=https://www.nytimes.com/1997/12/24/nyregion/commercial-real-estate-nonprofit-agencies-help-fill-a-tower.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207005201/https://www.nytimes.com/1997/12/24/nyregion/commercial-real-estate-nonprofit-agencies-help-fill-a-tower.html|url-status=live}}</ref> left the building in the following years as Viacom continued to expand.<ref>{{cite magazine|last=Lentz|first=Philip|date=January 11, 1995|title=Pataki economic czar cuts, combines units|volume=11|issue=2|page=1|id={{ProQuest|219171223}}|magazine=Crain's New York Business|postscript=none}}; {{Cite news|last=Deutsch|first=Claudia H.|date=December 31, 1995|title=Commercial Property/Top 10 Deals;New York City Holds Its Own Against the Suburbs|language=en-US|work=The New York Times|url=https://www.nytimes.com/1995/12/31/realestate/commercial-property-top-10-deals-new-york-city-holds-its-own-against-the-suburbs.html|access-date=February 6, 2022|issn=0362-4331|archive-date=August 28, 2021|archive-url=https://web.archive.org/web/20210828023403/https://www.nytimes.com/1995/12/31/realestate/commercial-property-top-10-deals-new-york-city-holds-its-own-against-the-suburbs.html|url-status=live}}</ref> thumb|Paramount Skydance offices at One Astor Plaza in NYC, seen in August 2025 In September 1997,<ref name="nyt-1997-07-13" /><ref>{{harvnb|Stern|Fishman|Tilove|2006|ps=.|p=667}}</ref> MTV opened studios at One Astor Plaza's second floor after an $8 million renovation.<ref name="nyt-1997-07-13" /><ref name="Collier 1997" /> By then, Viacom was one of several major media companies on Times Square, and ABC and CBS were also contemplating studios on Times Square.<ref>{{Cite news|last=Bagli|first=Charles V.|date=November 19, 1997|title=NBC Rivals Look to Times Square In Quest for Studio Space on Street|language=en-US|work=The New York Times|url=https://www.nytimes.com/1997/11/19/nyregion/nbc-rivals-look-to-times-square-in-quest-for-studio-space-on-street.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207012729/https://www.nytimes.com/1997/11/19/nyregion/nbc-rivals-look-to-times-square-in-quest-for-studio-space-on-street.html|url-status=live}}</ref><ref>{{harvnb|Stern|Fishman|Tilove|2006|ps=.|pp=667–668}}</ref> CBS and Viacom announced in 1999 that they would merge, and Viacom renewed its lease at One Astor Plaza,<ref>{{cite magazine|last=Block|first=Valerie|date=September 13, 1999|title=Behind hype: Cost cuts likely at new Viacom|volume=15|issue=37|page=1|id={{ProQuest|219202920}}|magazine=Crain's New York Business}}</ref> though the company planned to sell CBS's nearby headquarters, the CBS Building.<ref>{{Cite news|last=Blair|first=Jayson|date=August 30, 2000|title=CBS's 'Black Rock' Building Is Said to Be for Sale|language=en-US|work=The New York Times|url=https://www.nytimes.com/2000/08/30/nyregion/cbs-s-black-rock-building-is-said-to-be-for-sale.html|access-date=July 13, 2021|issn=0362-4331|archive-date=July 13, 2021|archive-url=https://web.archive.org/web/20210713044918/https://www.nytimes.com/2000/08/30/nyregion/cbs-s-black-rock-building-is-said-to-be-for-sale.html|url-status=live|postscript=none}}; {{cite news|date=August 30, 2000|title=Viacom Considers Selling CBS Building As Office Prices Soar|page=A.12|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|398713662}}}}</ref> By early 2001, Viacom had planned to buy One Astor Plaza in conjunction with its sale of the CBS Building.<ref>{{cite journal|last=Croghan|first=Lore|date=March 12, 2001|title=A plant to swap Black Rock for the Great White Way|journal=Crain's New York|volume=17|issue=11|page=12|id={{ProQuest|219156985}}|postscript=none}}; {{cite news|last=Grant|first=Peter|date=October 17, 2001|title=Plots & Ploys|page=B8|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|398846229}}}}</ref> That August, Equitable hired Goldman Sachs to market One Astor Plaza; Equitable had rejected an offer to swap One Astor Plaza for the CBS Building directly because the latter building was worth much less.<ref>{{Cite news|last=Bagli|first=Charles V.|date=August 14, 2001|title=Metro Business Briefing {{!}} MTV May Get New Landlord|language=en-US|work=The New York Times|url=https://www.nytimes.com/2001/08/14/nyregion/metro-business-briefing-mtv-may-get-new-landlord.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207012725/https://www.nytimes.com/2001/08/14/nyregion/metro-business-briefing-mtv-may-get-new-landlord.html|url-status=live}}</ref> The transaction was ultimately canceled in November 2001. This was attributed in part to Viacom's demand that any buyer first acquire One Astor Plaza and then swap that for the CBS Building and cash; such a transaction would enable Viacom to avoid paying estate transfer taxes on the transaction.<ref>{{Cite news|date=November 8, 2001|title=Viacom Decides Not To Sell 'Black Rock'|pages=69|work=Newsday|agency=Bloomberg News|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/81432765/viacom-decides-not-to-sell-black-rock/|access-date=July 14, 2021|archive-date=July 14, 2021|archive-url=https://web.archive.org/web/20210714165443/https://www.newspapers.com/clip/81432765/viacom-decides-not-to-sell-black-rock/|url-status=live}}</ref>
=== SL Green ownership ===
==== 2000s ==== In March 2002, a joint venture led by SL Green Realty acquired One Astor Plaza for approximately $480 million, the city's largest real-estate transaction since the September 11 attacks.<ref>{{Cite news|last=Holusha|first=John|date=May 17, 2002|title=Metro Briefing, New York: Manhattan: Times Square Tower Sold|language=en-US|work=The New York Times|url=https://www.nytimes.com/2002/05/17/nyregion/metro-briefing-new-york-manhattan-times-square-tower-sold.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207030043/https://www.nytimes.com/2002/05/17/nyregion/metro-briefing-new-york-manhattan-times-square-tower-sold.html|url-status=live|postscript=none}}; {{cite news|last=Grant|first=Peter|date=March 27, 2002|title=Plots & Ploys|page=B6|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|398789754}}}}</ref> SL Green had a 55 percent ownership stake while its partner SITQ Immobilier (a subsidiary of Canadian pension fund CDPQ), had the remaining 45 percent.<ref>{{Cite news|date=March 28, 2002|title=Times Square Site to Go for $480M|pages=50|work=Newsday|agency=Bloomberg News|issn=2574-5298|via=newspapers.com|url=https://www.newspapers.com/clip/94402991/times-square-site-to-go-for-480m/|access-date=February 7, 2022|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207030047/https://www.newspapers.com/clip/94402991/times-square-site-to-go-for-480m/|url-status=live}}</ref> SL Green was required to have terrorism insurance on the building, and the sale demonstrated that large buildings such as One Astor Plaza could obtain such insurance.<ref>{{cite news|last=Grant|first=Peter|date=March 29, 2002|title=A Skyscraper Deal Raises Wider Issues Of Terror Insurance|page=A2|work=Wall Street Journal|issn=0099-9660|id={{ProQuest|398823733}}}}</ref> SL Green chairman Stephen L. Green considered One Astor Plaza a "core building" to his portfolio but,<ref>{{Cite news|last=Tarquinio|first=J. Alex|date=April 28, 2002|title=Investing; For Real Estate, a Levitation Act|language=en-US|work=The New York Times|url=https://www.nytimes.com/2002/04/28/business/investing-for-real-estate-a-levitation-act.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207030047/https://www.nytimes.com/2002/04/28/business/investing-for-real-estate-a-levitation-act.html|url-status=live}}</ref> according to ''Crain's New York'' magazine, those in the real estate industry believed that Green had overvalued the building.<ref>{{cite magazine|last=Gandel|first=Stephen|date=June 24, 2002|title=Stock Watch: SL Green in the Pink|volume=18|issue=25|page=27|id={{ProQuest|219191251}}|magazine=Crain's New York Business}}</ref> Alliance Building Service, operated by Green's son Gary, was hired to provide cleaning and security services for the building.<ref>{{Cite news|last=Feiden|first=Douglas|date=November 24, 2014|title=Creating a Niche Beyond SL Green's Real Estate Empire|language=en-US|work=Wall Street Journal|url=https://online.wsj.com/articles/creating-a-niche-beyond-sl-greens-real-estate-empire-1416795148|access-date=February 7, 2022|issn=0099-9660|archive-date=December 1, 2014|archive-url=https://web.archive.org/web/20141201060205/http://online.wsj.com/articles/creating-a-niche-beyond-sl-greens-real-estate-empire-1416795148|url-status=live}}</ref> After acquiring the building, SL Green sought to replace five storefronts on Broadway with one large retailer.<ref>{{cite magazine|last=Fickenscher|first=Lisa|date=October 13, 2003|title=Times Square getting around to locals|volume=19|issue=41|page=12|id={{ProQuest|219205736}}|magazine=Crain's New York Business}}</ref> SL Green also bought out the lease of the Loews Astor Plaza movie theater and closed it in 2004;<ref name="nyt-2004-07-15" /> reopening it the next year as an event venue operated by AEG Live.<ref name="nyt-2005-08-04" /><ref name="Gamboa 2005" /> CBS and Viacom ultimately split in 2005.<ref>{{Cite news|agency=Bloomberg News|date=January 2, 2006|title=Viacom Completes Split Into 2 Companies|language=en-US|work=The New York Times|url=https://www.nytimes.com/2006/01/02/business/media/viacom-completes-split-into-2-companies.html|access-date=July 14, 2021|issn=0362-4331|archive-date=November 1, 2021|archive-url=https://web.archive.org/web/20211101043413/https://www.nytimes.com/2006/01/02/business/media/viacom-completes-split-into-2-companies.html|url-status=live}}</ref>
By 2008, the downsized Viacom was still the largest office tenant of One Astor Plaza, occupying {{convert|1.5|e6ft2}}; the building only had {{convert|130000|ft2}} available for lease.<ref name="Cuozzo 2008" /><ref name="nyt-2008-01-09">{{Cite news|last=Gregor|first=Alison|date=January 9, 2008|title=A Place So Crowded, Nobody Goes There Anymore|language=en-US|work=The New York Times|url=https://www.nytimes.com/2008/01/09/realestate/commercial/09square.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143709/https://www.nytimes.com/2008/01/09/realestate/commercial/09square.html|url-status=live}}</ref> Viacom's leases were scheduled to expire within two years,<ref name="Observer 2008">{{cite web|last=Rubinstein|first=Dana|date=September 17, 2008|title=SL Green: Viacom Likely To Renew at 1515 Broadway|url=https://observer.com/2008/09/sl-green-viacom-likely-to-renew-at-1515-broadway/|access-date=February 7, 2022|website=Observer|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142509/https://observer.com/2008/09/sl-green-viacom-likely-to-renew-at-1515-broadway/|url-status=live}}</ref> and the company was moving some divisions elsewhere, including Comedy Central.<ref name="Cuozzo 2008" /><ref name="nyt-2008-01-09" /> Viacom renewed its lease in December 2008,<ref>{{cite web|last=Clark|first=Ryan|date=November 11, 2008|title=Viacom Renews, Expands to HQ|url=https://www.globest.com/sites/globest/2008/11/11/viacom-renews-expands-to-hq/|access-date=February 7, 2022|website=GlobeSt|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142512/https://www.globest.com/sites/globest/2008/11/11/viacom-renews-expands-to-hq/|url-status=live|postscript=none}}; {{Cite news|last=Pristin|first=Terry|date=December 30, 2008|title=A Renter's Market for Manhattan Offices|language=en-US|work=The New York Times|url=https://www.nytimes.com/2008/12/31/business/31office.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143822/https://www.nytimes.com/2008/12/31/business/31office.html|url-status=live}}</ref> extending it by five years.<ref>{{cite web|last=Acitelli|first=Tom|date=November 11, 2008|title=Report: Viacom Staying in SL Green's 1515 Broadway Into 2015|url=https://observer.com/2008/11/report-viacom-staying-in-sl-greens-1515-broadway-into-2015/|access-date=February 7, 2022|website=Observer|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142510/https://observer.com/2008/11/report-viacom-staying-in-sl-greens-1515-broadway-into-2015/|url-status=live}}</ref> The same year, SL Green also hired KPF to renovate the lobby and facade to make the building compliant with LEED Silver green building standards.<ref name="Cuozzo 2008" /><ref name="Observer 2008" /> The work was completed in 2009 for $40 million.<ref>{{Cite news|last=Cortese|first=Amy|date=April 18, 2009|title=For Architects, Less May Have to Be More|language=en-US|work=The New York Times|url=https://www.nytimes.com/2009/04/19/realestate/commercial/19sqft.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143704/https://www.nytimes.com/2009/04/19/realestate/commercial/19sqft.html|url-status=live}}</ref> Though other tenants continued to occupy the building, including law firms,<ref>{{Cite news|last=Sederstrom|first=Jotham|date=June 1, 2011|title=East Side Law Firms Go West, as Far as Eighth Ave.|language=en-US|work=The New York Times|url=https://www.nytimes.com/2011/06/01/realestate/commercial/manhattan-law-firms-leave-east-side-for-west-side-frontiers.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207150624/https://www.nytimes.com/2011/06/01/realestate/commercial/manhattan-law-firms-leave-east-side-for-west-side-frontiers.html|url-status=live}}</ref><ref name="Marks 2009">{{cite magazine|last=Marks|first=Andrew|date=November 30, 2009|title=Tough times in Times Square|volume=25|issue=48|page=12|id={{ProQuest|219214821}}|magazine=Crain's New York Business}}</ref> Times Square was no longer appealing to small tenants by then because of the high rents.<ref name="Marks 2009" />
==== 2010s to present ==== In May 2010, a terrorist car bombing attempt occurred outside the building, although the bomb was defused before it could be detonated.<ref>{{cite news|url=https://www.nytimes.com/2010/05/05/nyregion/05bomb.html?hp|title=Arrests in Pakistan Widen Bombing Case|first1=William K.|last1= Rashbaum |first2=Mark |last2=Mazzetti |first3=Peter |last3=Baker |date=May 4, 2010|work=The New York Times| access-date=May 14, 2010 | archive-url= https://web.archive.org/web/20100507025548/http://www.nytimes.com/2010/05/05/nyregion/05bomb.html?hp| archive-date= May 7, 2010| url-status= live|issn=0362-4331}}</ref> SL Green refinanced 1515 Broadway for $475 million in 2010,<ref>{{cite press release|title=SL Green Realty Corp Announces Refinancing Of 1515 Broadway|website=SL Green Realty Corp.|date=January 5, 2010|url=https://slgreen.gcs-web.com/news-releases/news-release-details/sl-green-realty-corp-announces-refinancing-1515-broadway|access-date=February 7, 2022|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207152129/https://slgreen.gcs-web.com/news-releases/news-release-details/sl-green-realty-corp-announces-refinancing-1515-broadway|url-status=live|postscript=none}}; {{cite magazine|last=Agovino|first=Theresa|date=January 11, 2010|title=Happier new year for real estate|volume=27|issue=2|page=2|id={{ProQuest|219212531}}|magazine=Crain's New York Business}}</ref> and CDPQ sold its stake in the tower to SL Green the next year.<ref>{{cite web|date=April 29, 2011|title=Caisse sells stake in Manhattan business tower|url=https://www.theglobeandmail.com/report-on-business/caisse-sells-stake-in-manhattan-business-tower/article581570/|access-date=February 7, 2022|website=The Globe and Mail|agency=The Canadian Press|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207150625/https://www.theglobeandmail.com/report-on-business/caisse-sells-stake-in-manhattan-business-tower/article581570/|url-status=live}}</ref> In April 2012, Viacom signed a lease to take over all {{convert|1.6|e6ft2}} at 1515 Broadway through 2031, taking the remaining space as other tenants' leases expired.<ref>{{Cite news|last=Bagli|first=Charles V.|date=April 25, 2012|title=Viacom Signs a New Lease to Expand in Times Sq.|language=en-US|work=The New York Times|url=https://www.nytimes.com/2012/04/26/nyregion/viacom-inc-signs-lease-to-take-over-times-square-building.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207143820/https://www.nytimes.com/2012/04/26/nyregion/viacom-inc-signs-lease-to-take-over-times-square-building.html|url-status=live}}</ref><ref name="Jonas 2012">{{cite web|last=Jonas|first=Ilaina|date=April 25, 2012|title=Viacom signs long-term lease to stay in Times Square|url=https://www.reuters.com/article/us-viacom-slgreen-idUSBRE83O1IP20120425|access-date=February 7, 2022|website=U.S.|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142508/https://www.reuters.com/article/us-viacom-slgreen-idUSBRE83O1IP20120425|url-status=live}}</ref><ref name="trd-2012-04-26">{{Cite web|last=Jones|first=David|date=April 26, 2012|title=Viacom renews Broadway HQ lease, plans to expand space to 1.6M sf|url=https://therealdeal.com/2012/04/25/viacom-renews-broadway-hq-lease-plans-to-expand-space-to-1-6m-sf/|access-date=February 7, 2022|website=The Real Deal New York|language=en-US|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207142514/https://therealdeal.com/2012/04/25/viacom-renews-broadway-hq-lease-plans-to-expand-space-to-1-6m-sf/|url-status=live}}</ref> This was the fourth-largest lease in New York City history<ref name="trd-2012-04-26" /> and the largest that was not a sale and lease back by a building's previous owner.<ref name="trd-2012-04-26" /> In conjunction with this lease, the Bank of China gave SL Green a $775 million, seven-year first mortgage for the building.<ref name="Jonas 2012" /> At the time, Viacom provided the bulk of the building's rental income, paying $78 million a year.<ref>{{Cite news|date=April 16, 2012|title=Vying for Viacom's Offices|language=en-US|work=Wall Street Journal|url=https://online.wsj.com/article/SB10001424052702304299304577346063602195318.html|access-date=February 7, 2022|issn=0099-9660|archive-date=June 20, 2013|archive-url=https://web.archive.org/web/20130620163713/http://online.wsj.com/article/SB10001424052702304299304577346063602195318.html|url-status=live}}</ref> SL Green also agreed to upgrade 1515 Broadway for Viacom<ref>{{Cite news|last=Pristin|first=Terry|date=July 31, 2012|title=New York Financial Towers Looking to Diversify|language=en-US|work=The New York Times|url=https://www.nytimes.com/2012/08/01/realestate/commercial/world-financial-center-undergoes-makeover.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207150626/https://www.nytimes.com/2012/08/01/realestate/commercial/world-financial-center-undergoes-makeover.html|url-status=live}}</ref> and installed three-story-tall advertising screens on the Times Square facade in 2013;<ref name="Kleege 2013" /> the building was refinanced that year for $900 million.<ref>{{cite magazine|last=Geiger|first=Daniel|date=March 11, 2013|title=5 years after Bear Stearns' bust: A rising wave of sliced, diced and securitized mortgages is again helping fuel the market|volume=29|issue=10|page=1|id={{ProQuest|1317629491}}|magazine=Crain's New York Business|postscript=none}}; {{cite press release|title=SL Green Announces $900 Million Refinancing of 1515 Broadway|website=SL Green|date=February 18, 2013|url=https://slgreen.com/sl-green-announces-900-million-refinancing-of-1515-broadway/|access-date=February 7, 2022|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207164227/https://slgreen.com/sl-green-announces-900-million-refinancing-of-1515-broadway/|url-status=live}}</ref>
SL Green was looking to sell a minority stake in the building by 2017,<ref>{{cite magazine|last=Geiger|first=Daniel|date=February 6, 2017|title=Midtown tower stake for sale: SL Green could raise $1 billion|volume=33|issue=6|page=11|id={{ProQuest|1866340957}}|magazine=Crain's New York Business|postscript=none}}; {{Cite web|date=January 30, 2017|title=SL Green shops minority stake in 1515 Broadway|url=https://therealdeal.com/2017/01/30/sl-green-shops-minority-stake-in-1515-broadway/|access-date=February 7, 2022|website=The Real Deal New York|language=en-US|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172623/https://therealdeal.com/2017/01/30/sl-green-shops-minority-stake-in-1515-broadway/|url-status=live}}</ref> and the China Investment Corporation reportedly expressed interest.<ref>{{Cite news|last=Wei|first=Peter Grant and Lingling|date=October 31, 2017|title=CIC Avoids Beijing's Wrath as It Keeps Buying Global Property|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/cic-avoids-beijings-wrath-as-it-keeps-buying-global-property-1509454804|access-date=February 7, 2022|issn=0099-9660|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172626/https://www.wsj.com/articles/cic-avoids-beijings-wrath-as-it-keeps-buying-global-property-1509454804|url-status=live|postscript=none}}; {{Cite web|date=June 20, 2017|title=CIC bidding for 49% stake in 1515 Broadway, valuing tower at $2B|url=https://therealdeal.com/2017/06/20/cic-buys-49-stake-in-1515-broadway-valuing-tower-at-2b/|access-date=February 7, 2022|website=The Real Deal New York|language=en-US|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172624/https://therealdeal.com/2017/06/20/cic-buys-49-stake-in-1515-broadway-valuing-tower-at-2b/|url-status=live}}</ref> That November, Allianz bought a 43 percent ownership stake and some of the debt in a deal that valued 1515 Broadway at $1.95 billion.<ref>{{Cite news|last=Grant|first=Peter|date=November 14, 2017|title=SL Green Agrees to Sell 43% Stake in 1515 Broadway in Manhattan to Allianz|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/sl-green-agrees-to-sell-43-stake-in1515-broadwayin-manhattan-to-allianz-1510689106|access-date=February 7, 2022|issn=0099-9660|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172621/https://www.wsj.com/articles/sl-green-agrees-to-sell-43-stake-in1515-broadwayin-manhattan-to-allianz-1510689106|url-status=live}}</ref><ref name="trd-2017-11-14">{{Cite web|date=November 14, 2017|title=Allianz deal values 1515 Broadway at $1.95B|url=https://therealdeal.com/2017/11/14/allianz-taking-stake-in-sl-greens-1515-broadway/|access-date=February 7, 2022|website=The Real Deal New York|language=en-US|archive-date=March 28, 2020|archive-url=https://web.archive.org/web/20200328223545/https://therealdeal.com/2017/11/14/allianz-taking-stake-in-sl-greens-1515-broadway/|url-status=live}}</ref> At the time, Viacom occupied 85 percent of the building.<ref name="trd-2017-11-14" /> SL Green used the proceeds from the ownership stake's sale to buy back some of its stock.<ref>{{Cite news|last=Grant|first=Peter|date=March 13, 2018|title=SL Green Sells Property to Prop Up Its Share Price|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/sl-green-sells-property-to-prop-up-its-share-price-1520950864|access-date=February 7, 2022|issn=0099-9660|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207172624/https://www.wsj.com/articles/sl-green-sells-property-to-prop-up-its-share-price-1520950864|url-status=live}}</ref> After Viacom merged back into CBS Corporation in 2019, ViacomCBS (later Paramount Global{{efn|The Paramount Global name took effect in early 2022.<ref name="Paramount 2022">{{cite press release | title=ViacomCBS Unveils New Company Name, Global Content Slate and International Expansion Plans for Paramount+ at Investor Event | website=Paramount | date=February 15, 2022 | url=https://www.paramount.com/press/viacomcbs-unveils-new-company-name-global-content-slate-and-international-expansion-plans-for-paramount-at-investor-event | access-date=June 7, 2022 | archive-date=February 16, 2022 | archive-url=https://web.archive.org/web/20220216141934/https://www.paramount.com/press/viacomcbs-unveils-new-company-name-global-content-slate-and-international-expansion-plans-for-paramount-at-investor-event | url-status=dead }}</ref>}}) retained offices at One Astor Plaza. CBS News converted part of the MTV Studios space into a studio.<ref name="Steinberg 2020" /> Paramount Global subsequently occupied nearly all of the building's office space.<ref name="Cavanaugh m358">{{cite web |last=Cavanaugh |first=Suzannah |date=November 13, 2024 |title=SL Green's $740M loan on casino-bid building lands in special servicing |url=https://therealdeal.com/new-york/2024/11/13/sl-greens-740m-loan-on-1515-broadway-lands-in-special-servicing/ |access-date=November 14, 2024 |website=The Real Deal}}</ref> Paramount Global fired hundreds of the building's employees in mid-2024.<ref>{{cite web |last=Steinberg |first=Brian |date=September 24, 2024 |title=Paramount Global Unveils 'Phase Two' of Layoffs |url=https://variety.com/2024/tv/news/paramount-global-layoffs-phase-two-1236154272/ |access-date=November 14, 2024 |website=Variety}}</ref><ref name="Cavanaugh m358" /> The mortgage loan on the building went into special servicing that October,<ref name="Cavanaugh m358" /> but SL Green was able to extend the loan to avoid a default.<ref>{{cite web | last=Durso | first=Isabelle | title=SL Green Extends $742M Loan on Planned Times Square Casino Site | website=Commercial Observer | date=November 20, 2024 | url=https://commercialobserver.com/2024/11/sl-green-extends-loan-times-square-casino/ | access-date=November 21, 2024|postscript=none}}; {{cite web | last=Walter-Warner | first=Holden | title=SL Green finalizes extension of $740M loan on Times Square building | website=The Real Deal | date=November 20, 2024 | url=https://therealdeal.com/new-york/2024/11/20/sl-green-finalizes-extension-of-740m-loan/ | access-date=November 21, 2024}}</ref> Paramount Global began looking to sublease {{Convert|103000|ft2}} at 1515 Broadway in 2025 after downsizing its workforce.<ref>{{cite web | title=Paramount Global looks to offload 355,000 square feet in Midtown after layoffs | website=New York Business Journal | last=Smith | first=Kevin | date=June 9, 2025 | url=https://www.bizjournals.com/newyork/news/2025/06/09/paramount-global-nyc-offices-layoffs-1515-broadway.html | access-date=June 12, 2025|postscript=none}}; {{cite web | last=Hallum | first=Mark | title=Media Company Paramount Global Subleasing 355K SF in Manhattan | website=Commercial Observer | date=June 10, 2025 | url=https://commercialobserver.com/2025/06/paramount-global-subleasing1515-1633-broadway/ | access-date=June 12, 2025}}</ref> Paramount merged with Skydance Media in 2025 to form Paramount Skydance Corporation, whose corporate headquarters were moved to Los Angeles.<ref name="HQ">{{cite web | url=https://deadline.com/2025/08/paramount-shifting-corporate-headquarters-to-l-a-skydance-santa-monica-1236481980/ | title=Paramount Shifting Its Corporate Headquarters To L.A., Keeping Skydance Base In Santa Monica | website=Deadline | date=August 8, 2025 | last1=Hayes | first1=Dade }}</ref>
====Caesar's Palace Times Square proposal==== {{Infobox casino | name = Caesar's Palace Times Square | logo = | logo_size = | logo_caption = | image = | image_size = | image_caption = | pushpin_map = | pushpin_mapsize = | pushpin_map_caption = | pushpin_label_position = none | coordinates = | location = New York City, New York, United States | address = | date_opened = | date_closed = | theme = | rooms = 992<ref name="Ginsburg d785"/><ref name="O Brien h156"/> | space_gaming = {{convert|250000|sqft|abbr=on}} | shows = | attractions = | notable_restaurants = | casino_type = Resort | owner = | license_holder = Caesars Entertainment | architect = | names_pre = | renovations = | website = [https://www.abettertimessq.com/ Official website ] }}
New York state officials announced in April 2022 that they would issue three casino licenses in Downstate New York.<ref name="nyt-2022-10-21">{{Cite news |last1=Hong |first1=Nicole |last2=Rubinstein |first2=Dana |date=October 21, 2022 |title=Where Could a Casino Be Built in New York City? What We Know |language=en-US |work=The New York Times |url=https://www.nytimes.com/article/nyc-casino-tracker.html |access-date=October 30, 2022 |issn=0362-4331}}</ref><ref name="Short 2022">{{cite web |last=Short |first=Aaron |date=August 9, 2022 |title=Manhattan Casino Push Could Turn Out to be a House of Cards |url=https://commercialobserver.com/2022/08/manhattan-casino-push/ |access-date=October 30, 2022 |website=Commercial Observer}}</ref> Following this announcement, SL Green proposed constructing a casino at 1515 Broadway to attract tourists;<ref name="nyt-2022-03-30">{{Cite news |last1=Rubinstein |first1=Dana |last2=Ferré-Sadurní |first2=Luis |date=March 30, 2022 |title=A Casino Atop Saks? Lobbyists Push for Manhattan Gambling Site |language=en-US |work=The New York Times |url=https://www.nytimes.com/2022/03/30/nyregion/casinos-manhattan-licenses.html |access-date=October 30, 2022 |issn=0362-4331}}</ref> the casino would have 992 hotel rooms.<ref name="Ginsburg d785">{{cite web | last=Ginsburg | first=Aaron | title=The 8 casino proposals competing for a downstate New York gaming license | website=6sqft | date=July 9, 2025 | url=https://www.6sqft.com/casino-proposals-competing-for-a-downstate-new-york-gaming-license/ | access-date=July 11, 2025}}</ref><ref name="O Brien h156">{{cite web | last=O'Brien | first=Phil | title=Exclusive: Caesars Palace Times Square Reveals First Interior Renderings as Casino Race Heats Up | website=W42ST | date=July 2, 2025 | url=https://w42st.com/post/caesars-palace-times-square-casino-interiors/ | access-date=July 11, 2025}}</ref> In October 2022, SL Green and casino operator Caesars Entertainment jointly submitted a formal proposal for a casino in the building.<ref name="Brachfeld 2022">{{cite web |last=Brachfeld |first=Ben |date=October 20, 2022 |title=Real estate and gaming giants eye new casino in Times Square |url=https://www.amny.com/business/times-square-casino-plans/ |access-date=October 30, 2022 |website=amNewYork}}</ref><ref name="nyt-2022-10-19">{{Cite news |last1=Rubinstein |first1=Dana |last2=Hong |first2=Nicole |last3=Paulson |first3=Michael |date=October 19, 2022 |title=Times Square May Get One of the Few Spectacles It Lacks: A Casino |language=en-US |work=The New York Times |url=https://www.nytimes.com/2022/10/19/nyregion/casino-times-square.html |access-date=October 30, 2022 |issn=0362-4331}}</ref> The bid was also sponsored by Roc Nation<ref>{{cite web | last=Evans | first=Greg | title=Jay-Z's Roc Nation Joins Times Square Casino Bid Opposed By Broadway Producers | website=Deadline | date=December 7, 2022 | url=https://deadline.com/2022/12/jay-z-roc-nation-caesars-palace-times-square-new-york-1235192668/ | access-date=March 16, 2023}}</ref><ref name="Real Estate Weekly 2022">{{cite news | title=JAY-Z, Roc Nation Join Bid for Times Square Casino, Alongside SL Green and Caesars | website=Real Estate Weekly | date=December 5, 2022 | url=https://rew-online.com/jay-z-roc-nation-join-bid-for-times-square-casino-alongside-sl-green-and-caesars/ | access-date=March 16, 2023}}</ref> and mayor Eric Adams's former chief of staff Frank Carone.<ref>{{cite web | title=Mayor's former chief of staff joins SL Green's Times Square casino bid | website=Crain's New York Business | last=Garber | first=Nick | date=February 21, 2023 | url=https://www.crainsnewyork.com/politics/frank-carone-joins-sl-greens-times-square-casino-bid | access-date=March 16, 2023}}</ref> Broadway theatrical trade association The Broadway League expressed opposition to the casino, while trade union Actors' Equity Association supported the plan.<ref name="Evans Evans 2022">{{cite web |last=Evans |first=Greg |date=October 20, 2022 |title=A Casino In Times Square? Broadway Divided On Development Gamble |url=https://deadline.com/2022/10/times-square-casino-broadway-league-actors-equity-caesars-palace-1235150547/ |access-date=October 30, 2022 |website=Deadline}}</ref><ref name="Putnam 2022">{{cite web |last=Putnam |first=Leah |date=October 20, 2022 |title=Broadway League Responds to Possible Times Square Casino |url=https://playbill.com/article/broadway-league-responds-to-possible-times-square-casino |access-date=October 30, 2022 |website=Playbill}}</ref> The project received support from 17 trade unions;<ref>{{cite web | last=Russo-Lennon | first=Barbara | title=17 trade unions throw support around Times Square casino bid | website=amNewYork | date=August 13, 2024 | url=https://www.amny.com/news/trade-unions-support-times-square-casino-bid/ | access-date=August 14, 2024}}</ref> the Wyndham Hotels & Resorts chain; the operators of the Sony Hall and Town Hall theaters;<ref name="Vance e748">{{cite web |last=Vance |first=Shea |date=May 29, 2025 |title=Wyndham CEO, major nearby venues back Times Square casino pitch amid concerns for traffic, noise |url=https://www.amny.com/business-finance/wyndham-ceo-back-times-square-casino-pitch/ |access-date=May 30, 2025 |website=amNewYork}}</ref><ref>{{cite web |last=Shriber |first=Todd |date=May 29, 2025 |title=Caesars Times Square Casino Plan Wins Support from Wyndham, Others |url=https://www.casino.org/news/caesars-times-square-casino-plan-wins-support-from-wyndham-others/ |access-date=May 30, 2025 |website=Casino.org}}</ref> and local property owners.<ref>{{cite web | last=Rogers | first=Jack | title=Times Square Building Owners Rally Behind SL Green Casino Bid | website=GlobeSt | date=December 27, 2023 | url=https://www.globest.com/2023/12/27/times-square-building-owners-rally-behind-sl-green-casino-bid/?slreturn=20240815-40049 | access-date=August 15, 2024|postscript=none}}; {{cite web | last=Hallum | first=Mark | title=Times Square Landlords Want Free Odds in Favor of SL Green's Casino | website=Commercial Observer | date=December 21, 2023 | url=https://commercialobserver.com/2023/12/times-square-landlords-want-free-odds-in-favor-of-sl-greens-casino/ | access-date=August 15, 2024}}</ref>
If Caesars, SL Green, and Roc Nation received a casino license, SL Green chief executive Marc Holliday stood to earn $10 million.<ref>{{cite web | last=Walter-Warner | first=Holden | title=Marc Holliday set to get a $10M bonus if SL Green wins casino bid | website=The Real Deal | date=January 2, 2025 | url=https://therealdeal.com/new-york/2025/01/02/sl-greens-holliday-up-for-10m-bonus-for-casino-bid/ | access-date=January 3, 2025|postscript=none}}; {{cite web | last=Elstein | first=Aaron | title=SL Green CEO will collect a $10M jackpot if he can land Times Square casino | website=Crain's New York Business | date=January 2, 2025 | url=https://www.crainsnewyork.com/real-estate/sl-green-ceo-marc-holliday-would-get-10m-bonus-times-square-casino | access-date=January 3, 2025}}</ref> In addition, the partnership planned to spend $250 million on quality-of-life improvements to the surrounding neighborhood,<ref>{{cite web |last=Russo-Lennon |first=Barbara |date=June 26, 2024 |title=EXCLUSIVE: Times Square casino developers release neighborhood investment plan for Midtown |url=https://www.amny.com/news/times-square-casino-developers-neighborhood-plan/ |access-date=July 25, 2024 |website=amNewYork}}</ref> including $5 million for the Callen-Lorde Community Health Center.<ref>{{cite web | last=Evans | first=Greg | title=Caesars Palace Pledges $5 Million To Support LGBTQ+ Health Center If Times Square Casino Approved | website=Deadline | date=June 24, 2025 | url=https://deadline.com/2025/06/caesars-palace-times-square-callen-lorde-1236441102/ | access-date=June 27, 2025|postscript=none}}; {{cite web | last=Stella | first=Ajani | title=Caesars Palace pledges $5M investment in community sexual health center if Times Square casino bid approved | website=amNewYork | date=June 24, 2025 | url=https://www.amny.com/politics/caesars-palace-sexual-health-center-times-square-casino/ | access-date=June 27, 2025}}</ref> It also planned to give $22.5 million to the West Side Community Fund<ref>{{cite web | last=Garber | first=Nick | title=SL Green, casino partners abandon $22.5M gift to apartment complex after backlash | website=Crain's New York Business | date=2025-08-12 | url=https://www.crainsnewyork.com/politics-policy/times-square-casino-developers-drop-225m-gift-manhattan-plaza | access-date=2025-08-15 |postscript=none}}; {{cite web | last1=Jones | first1=Sasha | title=SL Green, Caesars Back Off Paying Apartment Building $22.5M In Times Square Casino Bid | website=Bisnow | date=2025-08-12 | url=https://www.bisnow.com/new-york/news/commercial-real-estate/times-square-casino-developers-moves-225m-fund-from-apartment-complex-to-nonprofit-130541 | access-date=2025-08-15}}</ref> and sell shares in the casino to small investors.<ref>{{cite web | last=Elstein | first=Aaron | title=SL Green's Times Square casino plans to sell shares to average investors | website=Crain's New York Business | date=June 25, 2025 | url=https://www.crainsnewyork.com/real-estate/sl-green-times-square-casino-plans-sell-shares-average-investors | access-date=June 27, 2025|postscript=none}}; {{cite web | title=Times Square casino bid to offer investment opportunities to low-income New Yorkers | website=Yogonet International | date=June 26, 2025 | url=https://www.yogonet.com/international/news/2025/06/26/109457-times-square-casino-bid-to-offer-investment-opportunities-to-lowincome-new-yorkers | access-date=June 27, 2025}}</ref> The proposed casino resort would have had 992 hotel rooms and {{Convert|250,000|sqft}} of casino space.<ref>{{cite web | last=Legato | first=Frank | title=New York City casino bidders sweeten the pot | website=iGB | date=September 23, 2024 | url=https://igamingbusiness.com/casino/new-york-city-casino-bidders-sweeten-pot/ | access-date=December 18, 2024|postscript=none}}; {{cite web | last=Short | first=Aaron | title=Breaking down every 2025 New York casino license bid | website=City & State NY | date=February 10, 2025 | url=https://www.cityandstateny.com/policy/2025/02/breaking-down-every-2025-new-york-casino-licenses-bid/402815/ | access-date=February 19, 2025}}</ref> A slow environmental review process could have caused the proposed resort to be disqualified as final bids were due by June 2025,<ref>{{cite web | title=Three casino bidders decry slow environmental reviews, fear disqualification | website=The Real Deal | date=April 14, 2025 | url=https://therealdeal.com/new-york/2025/04/14/trio-of-casino-bidders-fret-over-environmental-reviews/ | access-date=April 15, 2025}}</ref> but SL Green has stated that they will meet the deadline for the completion of the environmental review.<ref>{{cite web | last=Shriber | first=Todd | title=SL Green Can Meet Enviro Review Deadline for Times Square Casino | website=Casino.org | date=April 15, 2025 | url=https://www.casino.org/news/sl-green-can-meet-enviro-review-deadline-for-times-square-casino/ | access-date=April 15, 2025}}</ref> Caesar's submitted their bid for a commercial casino license on June 27, 2025.<ref>{{Cite web|last=Beckerman|first=Josh|date=June 27, 2025|title=Caesars Palace Times Square Submits Official Casino Proposal|url=https://www.wsj.com/business/hospitality/caesars-palace-times-square-submits-official-casino-proposal-for-1515-broadway-e69736d8|access-date=June 29, 2025|work=The Wall Street Journal|issn=0099-9660|language=en-US|postscript=none}}; {{cite web | last=O'Connor | first=Devin | title=New York Fields Eight Bids for Three Downstate Casinos | website=Casino.org | date=June 27, 2025 | url=https://www.casino.org/news/new-york-fields-eight-bids-for-three-downstate-casinos/ | access-date=June 27, 2025}}</ref> A few weeks later, renderings were released showing what the interior of the resort may look like if the bid is approved.<ref name="O Brien h156"/>
On September 17, 2025, a community advisory committee, appointed by the state government, voted against the proposed development.<ref>{{cite web | last1=Wong | first1=Natalie | last2=Cattan | first2=Nacha | title=Caesars' Times Square Casino Bid Ends After NYC Community Vote | website=Bloomberg.com | date=September 17, 2025 | url=https://www.bloomberg.com/news/articles/2025-09-17/caesars-times-square-casino-bid-ends-after-nyc-community-vote | access-date=September 17, 2025|postscript=none}}; {{cite web | last=Huston | first=Caitlin | title=Times Square Casino Proposal, Backed By Caesars and Jay-Z, Denied By Advisory Committee | website=The Hollywood Reporter | date=September 17, 2025 | url=https://www.hollywoodreporter.com/news/general-news/nyc-times-square-casino-proposal-denied-1236373490/ | access-date=September 17, 2025}}</ref> Holliday continued to advocate for a casino approval.<ref>{{cite web |last=Bockmann |first=Rich |date=October 16, 2025 |title=SL Green isn’t completely giving up on Times Square casino |url=https://therealdeal.com/new-york/2025/10/16/marc-holliday-sl-green-casino/ |access-date=October 19, 2025 |website=The Real Deal|postscript=none}}; {{cite web |date=October 17, 2025 |title=SL Green's hope for Times Square casino isn’t ‘completely dead’ yet, CEO says |url=https://www.costar.com/article/1465673792/sl-greens-hope-for-times-square-casino-isnt-completely-dead-yet-ceo-says |access-date=October 19, 2025 |website=CoStar}}</ref> The three licenses ultimately were granted to casinos in Queens and the Bronx,<ref>{{cite web | last=Chu | first=Haidee | title=All Three Casino Proposals Hit Jackpot | website=THE CITY - NYC News | date=December 15, 2025 | url=https://www.thecity.nyc/2025/12/15/all-three-casino-proposals-hit-jackpot/ | access-date=December 17, 2025|postscript=none}}; {{cite web | last=Swanson | first=Emily | title=BREAKING: Bally's wins state casino license to build a casino-hotel complex in Ferry Point Park | website=Bronx Times | date=December 15, 2025 | url=https://www.bxtimes.com/ballys-wins-state-casino-license/ | access-date=December 17, 2025|postscript=none}}; {{cite web | title=New York City's first casino is expected to open this spring; 2 more on deck | website=NBC New York | date=December 15, 2025 | url=https://www.nbcnewyork.com/new-york-city/casino-mets-citi-field-bronx-trump-golf-course/6431302/ | access-date=December 17, 2025}}</ref> and Holliday instead began advocating to convert the building into an entertainment complex with a hotel.<ref>{{cite web | title=SL Green still has big plans for Times Square office tower | website=CoStar | date=December 8, 2025 | url=https://www.costar.com/article/1927743086/sl-green-still-has-big-plans-for-times-square-office-tower-without-a-casino | access-date=December 17, 2025|postscript=none}}; {{cite web | last=O'Brien | first=Phil | title=SL Green Pivots on the Future of 1515 Broadway | website=W42ST | date=December 16, 2025 | url=https://w42st.com/post/from-casino-clash-to-plan-b-sl-green-pivots-on-the-future-of-1515-broadway/ | access-date=December 17, 2025}}</ref>
== Reception == One Astor Plaza's construction had spurred developers to acquire several buildings around Times Square.<ref>{{cite news|last=Robbins|first=William|date=March 3, 1968|title=Builders Play a Waiting Game on Times Square: New Drama In Times Sq.|page=R1|work=The New York Times|issn=0362-4331|id={{ProQuest|118392497}}}}</ref> When One Astor Plaza was completed, city officials had expressed hope that the building would precipitate the transformation of Times Square into an entertainment hub. This did not happen immediately, leading architectural writer Robert A. M. Stern to write that "Times Square somehow seemed all the more tawdry for its overscaled, underembellished corporate guest", One Astor Plaza.<ref>{{harvnb|Stern|Mellins|Fishman|1995|ps=.|p=445}}</ref> In 1985, ''New York Times'' architectural critic Paul Goldberger wrote that the under-construction Marriott Marquis hotel, One Astor Plaza, Paramount Plaza, and four planned towers at Times Square's south end{{efn|Now 3 Times Square, 4 Times Square, 5 Times Square, and Times Square Tower}} were "actively destroy[ing] something that is turning out to be far more fragile than we had once believed—that rough-and-tumble honky-tonk that is the physical essence of Times Square".<ref>{{Cite news|last=Goldberger|first=Paul|date=October 6, 1985|title=Architecture View; Will Times Square Become a Grand Canyon|language=en-US|work=The New York Times|url=https://www.nytimes.com/1985/10/06/arts/achitecture-view-will-times-square-become-a-grand-canyon.html|access-date=February 6, 2022|issn=0362-4331|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214748/https://www.nytimes.com/1985/10/06/arts/achitecture-view-will-times-square-become-a-grand-canyon.html|url-status=live}}</ref> After Caesars Entertainment's casino bid was announced, Karrie Jacobs of ''Curbed'' wrote in 2023: "It's fitting that 1515 Broadway, designed by architect Der Scutt (who later designed Trump Tower), was the leading edge of a '60s push to reinvent Times Square."<ref name="Jacobs 2023">{{cite web | last=Jacobs | first=Karrie | title=Will a Casino Finally 'Tame' Times Square? | website=Curbed | date=February 6, 2023 | url=https://www.curbed.com/2023/02/times-square-casino-slgreen-caesars-jay-z-security-bratton.html | access-date=March 16, 2023}}</ref>
At an exhibition of New York City buildings in 1999, ''New York Times'' critic Herbert Muschamp said: "No one needs additional reason to dislike 1515 Broadway, the fin-topped office building between 44th and 45th Streets that replaced the legendary Astor Hotel."<ref>{{Cite news|last=Muschamp|first=Herbert|date=January 8, 1999|title=Architecture Review; Steel Dreams That the Eye Can Cherish|language=en-US|work=The New York Times|url=https://www.nytimes.com/1999/01/08/arts/architecture-review-steel-dreams-that-the-eye-can-cherish.html|access-date=February 7, 2022|issn=0362-4331|archive-date=February 7, 2022|archive-url=https://web.archive.org/web/20220207005200/https://www.nytimes.com/1999/01/08/arts/architecture-review-steel-dreams-that-the-eye-can-cherish.html|url-status=live}}</ref> According to C. Ray Smith, the asymmetrical shafts of the facade were characteristic of "the new design" character of the 1970s, contrasting with previous symmetrical designs.<ref name="Stern (1995) pp. 443-444" /><ref>{{cite book|last=Smith|first=C. Ray|url=https://books.google.com/books?id=_kVKDQEACAAJ|title=Supermannerism: New Attitudes in Post-modern Architecture|publisher=Dutton|year=1977|isbn=978-0-525-47424-1|series=Dutton paperback original|pages=104–105|access-date=February 9, 2022|archive-date=February 6, 2022|archive-url=https://web.archive.org/web/20220206214746/https://books.google.com/books?id=_kVKDQEACAAJ|url-status=live}}</ref> Jo Mielziner said the large trusses above the Minskoff's roof provided "a clear example of what expense a builder is willing to go to get that extra rentable space".<ref name="PA p. 78" />
==See also== * List of buildings and structures on Broadway in Manhattan * List of tallest buildings in New York City * List of tallest buildings in the United States ==References==
=== Notes === {{Notelist}}
=== Citations === {{reflist}}
=== Sources === * {{Stern: New York|edition=2000}} * {{Stern: New York|edition=1960}} * {{cite magazine|date=Dec 1970|title=Zoning rebuilds the theatre|url=https://usmodernist.org/PA/PA-1970-12.pdf|volume=51|pages=76–78, 114|ref={{harvid|Progressive Architecture|1970}}|journal=Progressive Architecture}}
==External links== {{Commons category}} * {{Official website|https://slgreen.com/properties/1515-broadway/}}
{{Times Square}} {{Midtown North, Manhattan}} {{Broadway (Manhattan)}} {{ViacomCBS}} {{Portal bar|Architecture|New York City}}{{Authority control}}
Category:1972 establishments in New York City Category:Broadway (Manhattan) Category:Mass media company headquarters in the United States Category:Office buildings completed in 1972 Category:Paramount Global Category:Skyscraper office buildings in Manhattan Category:Times Square buildings Category:Paramount Skydance