{"id":1004579596,"date":"2022-05-09T03:16:21","date_gmt":"2022-05-09T11:16:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004579596"},"modified":"2022-12-08T09:15:44","modified_gmt":"2022-12-08T17:15:44","slug":"jamestown-to-redevelop-one-times-square-for-500m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/","title":{"rendered":"Jamestown to Redevelop One Times Square for $500M"},"content":{"rendered":"
\"Jamestown<\/a>

One Times Square. Image courtesy of Jamestown<\/p><\/div>\n

Jamestown<\/strong> will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop, the CRE investment and management firm announced on Friday. The project will modernize the historic, 118-year-old building as a 21st-century visitor center for New York City.<\/p>\n

As such, One Times Square will feature a new viewing deck and a Times Square museum, along with an augmented reality\u2013virtual reality \u201cbrand experience.\u201d The redevelopment will also open much of the building\u2019s interior to the public for the first time in decades.<\/p>\n

\n

READ ALSO<\/strong>: Top 5 NYC Office Building Sales<\/a><\/p>\n

\n

Jamestown described the modernized One Times Square as including \u201ca next generation brand experience offering brands the added ability to connect with their customers in Times Square through immersive, technology-enabled activations. The interactive experiences will encompass 12 floors and include digital, virtual, and augmented reality integrations.\u201d<\/p>\n

The redeveloped building interior is projected to open to the public in the summer of 2024.<\/p>\n

The redevelopment will further include improvements to the Times Square Shuttle station, which will include a new stair entrance, canopy and ADA-accessible elevator.<\/p>\n

Building as billboard<\/h2>\n

With an annual pedestrian count of more than 130 million people, in addition to the New Year\u2019s Eve extravaganza, One Times Square is well placed as arguably one of the world\u2019s most iconic billboards.<\/p>\n

\"Jamestown<\/a>

One Times Square. Image courtesy of Jamestown<\/p><\/div>\n

The 26-story building was completed in 1904 at the intersection of 42nd Street, Seventh Avenue and Broadway, then known as Longacre Square, as the headquarters of The New York Times<\/em>. The newspaper decamped to different offices in 1913, while retaining ownership.<\/p>\n

At least since the 1995 purchase of One Times Square by Lehman Brothers<\/strong> for $27.5 million, the building has been almost entirely vacant, except for retail on the lower levels, evidently because of the relatively small amount of potential office space and the tight floorplates.<\/p>\n

At 3 Times Square, a\/k\/a the Thomson Reuters Building, owners Thomson Reuters<\/strong> and Rudin Family Holdings<\/strong> are investing about $25 million<\/a> to reposition the 30-story, 950,000-square-foot property with an updated facade and amenities.<\/p>\n","protected":false},"excerpt":{"rendered":"

The longtime site of the New Year\u2019s Eve ball drop will become primarily a visitor center for New York City. <\/p>\n","protected":false},"author":882,"featured_media":1004579604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21752,1600,21742,10],"tags":[38648,32911],"class_list":["post-1004579596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-mixed-use","category-new-york","category-latest","category-northeast","tag-jamestown-lp","tag-lehman-brothers"],"acf":[],"yoast_head":"\nJamestown to Redevelop One Times Square for $500M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Jamestown will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jamestown to Redevelop One Times Square for $500M\" \/>\n<meta property=\"og:description\" content=\"Jamestown will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-09T11:16:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:15:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"815\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/\",\"name\":\"Jamestown to Redevelop One Times Square for $500M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg\",\"datePublished\":\"2022-05-09T11:16:21+00:00\",\"dateModified\":\"2022-12-08T17:15:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Jamestown will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg\",\"width\":815,\"height\":600,\"caption\":\"One Times Square. Image courtesy of Jamestown\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Jamestown to Redevelop One Times Square for $500M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Jamestown to Redevelop One Times Square for $500M - Commercial Property Executive","description":"Jamestown will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/","og_locale":"en_US","og_type":"article","og_title":"Jamestown to Redevelop One Times Square for $500M","og_description":"Jamestown will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop.","og_url":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-05-09T11:16:21+00:00","article_modified_time":"2022-12-08T17:15:44+00:00","og_image":[{"width":815,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/","url":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/","name":"Jamestown to Redevelop One Times Square for $500M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg","datePublished":"2022-05-09T11:16:21+00:00","dateModified":"2022-12-08T17:15:44+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"description":"Jamestown will undertake a $500 million redevelopment of One Times Square, the location of the New Year\u2019s Eve Ball Drop.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg","width":815,"height":600,"caption":"One Times Square. Image courtesy of Jamestown"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jamestown-to-redevelop-one-times-square-for-500m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Jamestown to Redevelop One Times Square for $500M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/One-Times-Square.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004579596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004579596"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004579596\/revisions"}],"predecessor-version":[{"id":1004579640,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004579596\/revisions\/1004579640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004579604"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004579596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004579596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004579596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}