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Times Square’s Most Famous Building Has Been Vacant For Decades

One Times Square is one of the most iconic buildings in America and among the most expensive real estate in the world. On New Year's Eve, about one million people gather around it while another billion watch it on TV as the New Year's Eve ball drops on its metal roof deck. For the other 364 days of the year, it’s relatively quiet. The 23-story building sits almost completely empty, except for the Walgreens downstairs and the only other occupant — the New Year's Eve Headquarters — on the 22nd floor. Perhaps one of the most unique features about One Times Square, apart from the New Year's Eve ball, is that it doesn't really need tenants. The building's billboards have generated more than $23 million a year and are among the most lucrative public advertisements in the world.