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Times Square Recovers Post Pandemic


An iconic Times Square building is largely empty.
One Times Square was once the home of The New York Times, and today is the site of the annual New Year’s Eve ball drop. But while that iconic sphere and LED billboards keep the exterior lit throughout the year, the building’s 22 floors are dark. A three-story Walgreens on the ground floor is the only tenant, and the brand recently signed a lease at the Bow-Tie building two blocks away, making its future occupancy plans uncertain.
The property is one of the most valuable advertising locations in the world. The facade alone generates an estimated $23 million in revenue, meaning that even without tenants, the property turns a profit for its owner, Jamestown. ....

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