Opinions | The history behind the Empire State Building, and why it matters today David Farber The Empire State Building is lit green to celebrate Earth Day in New York City on April 22. The building turns 90 years old on May 1. (Andrew Kelly/Reuters) On May 1, the Empire State Building turns 90 years old in New York City. Its opening in 1931 was widely celebrated: “the world’s loftiest building,” cheered the New York Times. But as the Great Depression deepened its hold on the American people, the 1,250-foot-tall structure became a national symbol of economic overreach, mocked as the “Empty State Building.” The investors nearly drowned in a sea of red ink. Yet they held on.