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3 Times Square, also known as the Thomson Reuters Building, is a 30-story skyscraper at Times Square in the Midtown Manhattan neighborhood of New York City, New York, U.S. Located on Seventh Avenue between 42nd and 43rd Street, the building measures 555 feet (169 m) to its roof and 659 feet (201 m) to its spire. The building was designed by Fox & Fowle and developed by Rudin Management for news-media company Reuters. The site is owned by the New York City Economic Development Corporation, though Rudin and Reuters have a long-term leasehold on the building.

Key Information

Fox & Fowle planned a portion of the facade as a glass curtain wall, though the northeast corner and the south facade are made of masonry. The eastern facade has a curving curtain wall with a wedge atop the southeast corner, as well as a triple-height lobby facing Seventh Avenue. The building contains 855,000 square feet (79,400 m2) of floor space, much of which was originally taken by Reuters. The lowest three stories contain retail space and an entrance to the Times Square subway station.

During the 1980s and early 1990s, Park Tower Realty and the Prudential Insurance Company of America had planned to develop a tower for the site as part of a wide-ranging redevelopment of West 42nd Street. After the successful development of the nearby 4 Times Square, Reuters proposed consolidating its headquarters at Times Square in 1997, enlisting Rudin Management as a development partner. Work started in 1998 and the building was completed in 2001, with Reuters occupying the vast majority of the space. The building was jointly owned by Reuters and Rudin for two decades, and a renovation of the interior was announced in 2021.

Site

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3 Times Square is on the western side of Seventh Avenue, between 42nd and 43rd Street, at the southern end of Times Square in the Midtown Manhattan neighborhood of New York City, New York, U.S.[3][4] The land lot is L-shaped and covers 29,630 sq ft (2,753 m2),[3] with a frontage of 200 ft (61 m) on Seventh Avenue, 131 feet (40 m) on 42nd Street, and 164 feet (50 m) on 43rd Street.[5] 3 Times Square is at the eastern end of a city block that also contains the Todd Haimes, Lyric, and New Victory theaters. Other nearby buildings include 229 West 43rd Street and 1501 Broadway to the north, 1500 Broadway to the northeast, One Times Square and 4 Times Square to the southeast, the Times Square Tower and 5 Times Square to the south, and the New Amsterdam Theatre to the southwest.[3][4]

An entrance to the New York City Subway's Times Square–42nd Street station, served by the 1, ​2, ​3​, 7, <7>​​, N, ​Q, ​R, ​W, and S trains,[6] is within the base of the building on 42nd Street.[7] The subway entrance in the building is on 42nd Street, about 75 feet (23 m) west of its original location at the corner with Seventh Avenue.[8] The entrance consists of a canopy extending above the sidewalk, as well as a staircase down to the station mezzanine.[7] It was originally planned with escalators, but the entrance was downsized during the building's construction. A "Low Headroom" sign had to be placed on the entrance because of its reduced size.[9]

3, 4, and 5 Times Square and the Times Square Tower comprise a grouping of office buildings that were developed at Times Square's southern end in the late 1990s and early 2000s.[10][11][12] The surrounding area is part of Manhattan's Theater District and contains many Broadway theaters. The site on the northwest corner of 42nd Street and Seventh Avenue had historically been occupied by the Victoria Theatre, which operated from 1899 to 1915.[13] The former theater then became the Rialto Theatre, which opened in 1916.[14] The Rialto was rebuilt in 1935[15] and continued to operate until 1998, sharing a building at 1481 Broadway with several storefronts.[16] The theater building, in its final years of operation, had a 500-seat theater and 12,000 square feet (1,100 m2) in retail.[17]

Architecture

[edit]

3 Times Square was designed by Fox & Fowle and developed by the Rudin family under Rudin Management.[8][18] Swanke Hayden Connell Architects designed the interiors.[19][20] Severud Associates was the structural engineer, while Tishman Construction was the main contractor. Other companies involved with the project included geotechnical consultant Langan Engineering, elevator contractor Otis Worldwide, and mechanical, electrical, and plumbing engineer Jaros, Baum & Bolles.[1] The building serves as the New York City offices of Thomson Reuters.[21] Officially, the New York City Economic Development Corporation owns the structure.[3]

Masonry facade on 42nd Street

3 Times Square has 30 usable floors above ground.[2] The building measures 555 feet (169 m) to its architectural tip[1][2] and 659 feet (201 m) to the top of the spire. The main roof is only 486 feet (148 m) high.[2] 3 Times Square has 855 thousand square feet (79,400 m2) of space.[22][23][24] The building is part of the 42nd Street Development Project and, thus, could bypass many city zoning rules such as those relating to floor area ratio (FAR).[25] Bruce Fowle of Fox & Fowle estimated that the building had a FAR of 31,[26] while The New York Times stated that the FAR was only 25.[27]

Form and facade

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The building's form was intended in part as a homage to the former Rialto Theatre.[15][28] The Seventh Avenue portion of the facade is a curtain wall with a curve pointing southwest toward the nearby theaters on 42nd Street.[24][28][29] The curved wall was intended to represent Reuters's corporate identity.[30] At the top of the facade's southeastern corner is an illuminated blue wedge.[24][29][31] Originally, this wedge had the Reuters logo.[24][29] The wedge's presence allowed views of the nearby 5 Times Square from Times Square itself.[28][31] The roof of the building had several satellite dishes, representing the building's satellite broadcasts.[29]

Fox & Fowle designed a masonry facade on the corner of Seventh Avenue and 43rd Street, as well as along 42nd Street. The architects wanted the masonry facade to relate to surrounding masonry buildings such as 1501 Broadway and the New Victory Theatre.[29][32] In addition, the masonry facade contrasts with the curtain wall on Seventh Avenue.[32] The corner of Seventh Avenue and 42nd Street has a seven-story cylindrical "rotunda", which was intended to attract pedestrians to the retail base. The rotunda is made of cast stone and architectural terracotta.[24][32] The main entrance to the building is through the lobby, accessed from the middle of the Seventh Avenue facade. The lobby wall originally contained view of the fourth-floor newsroom.[29] The lobby on Seventh Avenue is being redesigned with a triple-height glass wall as of 2021. The glass wall contains a screen that is intended to refract light from other parts of Times Square.[33][34] According to William Rudin of Rudin Management, the lobby was redesigned as a "sanctuary from all that's happening outside".[35]

The windows allow natural light to illuminate the offices, though it also serves to deflect much of the heat energy. According to Robert Fox of Fox & Fowle, the walls blocked heat so efficiently that, when considering the amount of heat generated by the building's occupants, the building did not need a heating system even during winter.[8][31] The walls deflect the ultraviolet rays from sunlight.[36]

Signage

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William Rudin had initially been opposed to exterior signage on 3 Times Square's facade. He said he changed his mind after seeing that the signage on the Morgan Stanley Building, several blocks north, had increased the value of that building.[37] Furthermore, the New York state government required the building to contain at least 14,000 square feet (1,300 m2) of signage.[38] Ultimately, 3 Times Square was designed with approximately 34,000 square feet (3,200 m2) of signage.[31][38][39][a] There were originally supposed to be numerous news zippers on the facade, like those at One Times Square,[40] but Fox & Fowle ultimately decided to use full-screen displays rather than zippers.[8] The signs were designed by Edwin Schlossberg's firm,[38] though George Stonbely helped make the signs.[41] Advertising agency R/GA designed the programming for the signage.[38][42]

Reuters's sign on Seventh Avenue and 43rd Street

Reuters and subsidiary Instinet were allocated 15,169 square feet (1,409.2 m2) of signage.[37][43] The Reuters sign, a 14-story-tall display at the corner of Seventh Avenue and 43rd Street,[24][38][40] is composed of 14 panels.[44] Near street level is a horizontal "crossbar" with nine screens just above the base. On the corner, above the "crossbar", is a screen measuring 28 by 46 feet (8.5 by 14.0 m); a balcony, originally designed for Instinet's president; and a vertical sign, measuring 13 by 169 feet (4.0 by 51.5 m). The Reuters signage has 5.6 million LEDs and was used to display graphics, financial information, and other data.[38] Rudin rented out another 12,769 square feet (1,186.3 m2) of signage.[38] Some 6,000 square feet (560 m2) was for Prudential Financial, which had funded the project.[37][38][b] Prudential's sign is placed at Seventh Avenue and 42nd Street and consists of five types of illumination. It had a logo measuring 40 feet (12 m) high as well as Prudential's name on a banner measuring 120 feet (37 m) wide.[45] An additional sign for Chase Bank, measuring 127 feet (39 m) wide, was installed on the corner "rotunda" in 2004.[46]

Mechanical features

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Rudin and Reuters had developed 3 Times Square with green building features in part because it was eligible for a green-building tax credit passed in 2000.[36][47] 3 Times Square is designed to reduce energy consumption by 30 percent compared to an office building of similar size.[48][47] The Rudin family initially decided against installing fuel cells or photovoltaic panels in the building, as had been used at Fox & Fowle's previous design for 4 Times Square.[8][c] The building was designed so it could collect power from fuel cells or PV panels if they were installed in the future.[48] There are five generators on the roof, each capable of 750 kilowatts (1,010 hp), for powering Reuters's offices in case of emergencies. An additional generator powers the building's main mechanical systems during emergencies.[8]

The heating plant includes two absorption chillers.[49] The building is cooled by electric- and gas-powered cooling units, which can be activated or deactivated based on electrical rates.[8][50] The coolers consists of two 650-ton gas chillers and two 1,350-ton electric chillers, as well as water-side economizers. There is also central air-handling equipment on each story.[49] In addition, the office stories' ventilation systems contain filters with a minimum efficiency reporting value of 15, making them among the most efficient filters on the MERV scale.[33] Air filters have been included in the building since its original design.[36][47]

Interior

[edit]

Structurally, the underlying rock is capable of supporting 40 short tons per square foot (390 t/m2), which obviated the need for caissons in the foundation.[51] There is about 79,000 square feet (7,300 m2)[39] or 80,000 square feet (7,400 m2) of retail space at the base.[8][31] The retail space includes a lower concourse level, as well as the first three above-ground stories of the building. Because the retail space in 3 Times Square is smaller than in its predecessor building, the Rudin family decided to market the space toward large tenants.[8] On the 43rd Street side, the Rudin family also acquired a building facing 43rd Street, which had office space and a driveway for the adjacent New Victory Theatre.[52] New loading docks were built with 3 Times Square's construction, one of which was allocated for the New Victory.[8] The lobby has security checkpoints with turnstiles.[53]

The office stories each have 28 to 35 thousand square feet (2,600 to 3,300 m2) of space.[33][54][55] The floors of 3 Times Square are arranged around a mechanical core with elevators, stairways, and other functions.[8] The elevators contain a destination dispatch system, wherein passengers request their desired floor before entering the cab, and touchless entry points.[33][34] Generally, each story has a slab-to-slab height of 13.33 feet (4.06 m) as measured between the floor and ceiling. The 2nd and 4th stories are 18 feet (5.5 m) tall; the 3rd, 5th, 6th, and 7th stories are 14 feet (4.3 m); and the 8th and 9th stories are 16 feet (4.9 m).[55]

The ceilings contain the HVAC and lighting systems, allowing the office stories to be arranged flexibly. Reuters originally occupied 21 stories and arranged its offices in a modular layout.[20] The eighth story originally contained an Instinet trading floor with 200 workstations across 22,000 square feet (2,000 m2).[56][57] Two broadcast studios for Reuters were designed for the lower stories.[58] and a newsroom was on the 19th story.[59] Rudin and Reuters also installed high-speed communications wires connecting the building's offices.[20][60][61] As part of a 2021 renovation, an amenity space is being designed on the 16th floor, along a setback facing Times Square. The amenity space will have a lounge, cafe, and an event area that could seat 200 or 220 people.[33][34] A library and a fitness center are also planned for the space.[33] Outdoor spaces are also present at the eighth, 20th, and 22nd stories.[55]

History

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Planning

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Early plans

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The Empire State Development Corporation (ESDC), an agency of the New York state government, had proposed redeveloping the area around a portion of West 42nd Street in 1981.[62] Four towers designed by Philip Johnson and John Burgee were to be built around 42nd Street's intersections with Broadway and Seventh Avenue, including one at the present-day site of 3 Times Square.[63][64][d] The tower on 3 Times Square's site would have been 29 stories tall with 705,000 square feet (65,500 m2).[26] These towers would have been redeveloped by George Klein of Park Tower Realty, though the Prudential Insurance Company of America joined the project in 1986.[65][66][67] In 1988, the ESDC convinced Prudential to give up part of the 3 Times Square site to New 42nd Street so the New Victory Theater could have a delivery entrance.[52] Furthermore, as part of the West Midtown special zoning district created in 1982, the New York City government had allowed new buildings in Times Square to be developed with an increased floor area ratio. To ensure the area would not be darkened at nightfall, the city passed zoning regulations that encouraged developers to add large, bright signs on their buildings.[63][68]

Main entrance at the center of the Seventh Avenue facade

The Durst Organization opposed the redevelopment for 15 years, citing concerns over the subsidies that were to be given to the developers, which in turn would decrease the value of the Dursts' buildings.[69][70] The Dursts' opposition, along with Prudential and Park Tower's inability to secure tenants for the proposed buildings,[71] led government officials to allow Prudential and Park Tower to postpone the project in 1992.[64][72] By then, Prudential had spent $300 million on condemning the sites through eminent domain.[69] The partners retained the right to develop the sites in the future,[73] and the ESDC's zoning guidelines remained in effect.[63] In exchange for being permitted to delay construction of the sites until 2002, Prudential and Park Tower were compelled to add stores and install large signage on the existing buildings.[74] The Rialto was thus renovated in 1995 as part of the interim plan for Times Square.[17][22]

Klein ceded decision-making power for the sites to Prudential, which decided to exit the real-estate market altogether, selling off all four sites.[75] Prudential and Klein dissolved their partnership in 1996.[31][76] The same year, Douglas Durst acquired the site at the northeast corner of Broadway and 42nd Street,[77] and he developed 4 Times Square there.[78]

Reuters proposal

[edit]

Prudential decided to market the three other sites after the successful development of 4 Times Square.[22][79] In March 1997, Prudential indicated its intent to sell the sites' development rights or lease the sites to developers.[80][81] Among the interested developers was Durst, who was negotiating for the northwest corner of 42nd Street and Seventh Avenue.[82] Durst had hired Fox & Fowle, architects of 4 Times Square, to design an office building of up to 800,000 square feet (74,000 m2). He was discussing with news agency Reuters, publisher Ziff Davis, and financial firm Morgan Stanley as possible anchor tenants for a building on that site.[83] Klein started discussing a possible partnership with Durst on the development of the site,[75] but Durst's proposal did not succeed.[84]

By August 1997, Reuters had become the primary contender for the site, planning a headquarters there. The company was looking to consolidate over 1,800 workers from 13 locations in New York City.[84] The following month, Reuters enlisted Rudin Management as its development partner.[85][86] The building was to be 32 stories high and contain 855,000 square feet (79,400 m2).[85][87][e] The Rudin family had agreed to lease out some space that Reuters would not occupy.[86] Reuters planned to occupy 506,000 square feet (47,000 m2), while Rudin planned to lease out about 330,000 square feet (31,000 m2) of unused office space and 80,000 square feet (7,400 m2) of retail space.[8][31] The development would make Reuters one of several large companies to build their U.S. headquarters in Manhattan.[87] After the Rudin family and Reuters signed an agreement in October 1997, they realized the site was too small to accommodate an 855,000-square-foot building under zoning law. Having failed to convince Prudential to transfer development rights from a nearby site, Rudin and Reuters paid New 42nd Street $2.8 million for an adjacent four-story building on 43rd Street.[52] The Rudin family and Reuters signed a modified agreement in February 1998.[39]

Rudin Management paid $1.3 million so it would not have to add escalators to 3 Times Square's subway entrance.

The administration of mayor Rudy Giuliani agreed to give Reuters tax exemptions to encourage the development of the $400 million headquarters.[88] This consisted of a $12.5 million, 20-year sales tax exemption on materials and equipment, as well as a $13.5 million exemption, to be granted if Reuters created new jobs during this time.[89] The tax breaks were controversial, with one critic saying that Times Square had become the "corporate welfare capital of the world".[89] As part of 3 Times Square's construction, Rudin Management was compelled to add a new entrance to the Times Square–42nd Street station, with a stairwell at least 12 feet (3.7 m) wide, as well as two escalators. In April 1998, the Metropolitan Transportation Authority (MTA) allowed the Rudin family to be exempt from adding escalators in exchange for a $1.3 million payment. In addition, the MTA would pay for a canopy above the entrance for $250,000.[7] An MTA inspector subsequently alleged that the Rudins should have paid $4 million to $5.9 million for not including the escalators.[90][91]

Construction

[edit]

By early 1998, demolition of buildings on the site of the Reuters Building was underway.[8][31] Tishman Construction, the main contractor for the building, subcontracted the substructure work to Urban Foundation. The work consisted of excavating the 32,000-square-foot (3,000 m2) site to a depth of 32 feet (9.8 m). The basements of the old buildings on the site, which extended 10 feet (3.0 m) deep, were removed. The excavation process was complicated by the presence of two nearby historic structures, the subway tunnels, and the three streets bordering the site. While the underlying rock was strong enough that it could bear the weight of the building, Urban Foundation reinforced the foundations of the nearby buildings with concrete.[51]

A groundbreaking ceremony for the building occurred on January 11, 1999.[92] 3 Times Square and its three neighboring developments would collectively add almost 4 million square feet (370,000 m2) of office space.[93] All four projects were being marketed with a Times Square address, which until the early 1990s had not been popular in the city's real estate market.[94] At the time, rents for commercial space around Times Square were increasing drastically.[95] Prudential loaned $270 million to Rudin for the building's construction.[96] By August 1999, the building's steel superstructure was being erected, despite a shortage in skilled ironworkers citywide.[97] Chinese "sidewalk artists" hung their portraits on the plywood construction fence that surrounded the site, prompting the New York City Police Department to clear the artists from the sidewalk every night.[98]

The building topped out on December 10, 1999.[99] The next month, the surrounding section of Seventh Avenue was closed temporarily after a debris and a piece of wood fell from the construction site.[100] Reuters ultimately expanded its space to 625,000 square feet (58,100 m2).[20] The vacant office space was taken by Bain & Company, which leased 50,000 square feet (4,600 m2) in February 2000,[101] and the Bank of Montreal (BMO), which leased 102,000 square feet (9,500 m2) that June.[102][103] After BMO's lease, all of the office space was signed for.[103] About 50,000 square feet of retail space and 15,000 square feet (1,400 m2) of signs remained to be leased.[102]

Usage

[edit]

Reuters offices

[edit]
Western facade

The Instinet trading floor opened on May 7, 2001, with 700 employees.[56][57] Reuters opened its 19th-floor newsroom two weeks later on May 22.[59] The Reuters headquarters officially opened on June 4, 2001, with speeches from former U.S. Treasury secretary Lawrence Summers and former UN ambassador Richard Holbrooke.[104] In addition to Instinet's employees, Reuters had 1,100 workers at the building.[104] Despite the September 11 attacks in Lower Manhattan shortly after the building's opening, Chase Bank took some retail space by the end of 2001.[105] After the attacks, Instinet decided to open offices in New Jersey.[106][107] Though Instinet still occupied 300,000 square feet (28,000 m2) at 3 Times Square,[107] Reuters took some of Instinet's space.[106] Shoe store Skechers had signed for another retail unit by mid-2002,[108] and Europa Cafe also took some retail space.[109] The Prudential sign at Seventh Avenue and 42nd Street started illuminating in December 2002.[45]

Not long after the Reuters Building opened, Instinet indicated it would downsize its staff and sublet 100 to 200 thousand square feet (9,300 to 18,600 m2) at the building.[110] Subsequently, six of Instinet's floor were listed for sublease in May 2003.[111] Among the other tenants were pharmaceutical company Eyetech,[112] as well as consulting firm FTI Consulting, the latter of which subleased part of its space to brokerage firm Integro.[113] There was controversy in October 2003 when Reuters refused to air an advertisement by the Methodist Episcopal Church,[114] though Reuters ultimately reversed its policy prohibiting religious advertising.[115][116] The next year, Chase added a sign around the rotunda at Seventh Avenue and 42nd Street.[46] Reuters announced a partnership with Nasdaq in 2006, in which companies could display advertisements across both 3 Times Square's northeast corner and Nasdaq MarketSite across the street at 4 Times Square. Advertisers could choose between splitting their advertisement across the two buildings, running the same ad across both buildings, or displaying different messages on either building.[117]

Following the September 11 attacks, Reuters had placed 13 planters on the sidewalk to protect the building against car bombs.[118] The planters were removed in late 2006 after counterterrorism experts said the planters could turn into projectiles during vehicular attacks.[119][120] Reuters merged in 2007 with Canadian media company Thomson Corporation to form Thomson Reuters,[54] and some Thomson offices relocated to 3 Times Square.[121] The lower stories' retail space was taken up by an AT&T phone store,[113] as well as temporary pop-up stores in the 2010s.[122] After Bain & Company announced its plans to relocate in late 2013, it subleased the space to BMO.[123] In 2018, Thomson Reuters subleased some of its space to Kind Snacks, a manufacturer of protein bars and health foods.[113][124] By October 2020, Thomson Reuters was looking to sell its 50 percent stake in the building, which it co-owned with Rudin Management. With Reuters's stake listed at $800 per square foot ($8,600/m2), this placed the building's valuation at about $700 million.[125][126]

Renovation and subsequent leases

[edit]

Rudin Management announced in April 2021 that it would be renovating the building for $25 million.[33][54] Rudin had hired FXCollaborative (which had been renamed from Fox & Fowle) to redesign the lobby and add a 16th-story amenity area.[33][35] Rudin also hired Cushman & Wakefield to market the space. The renovation came after BMO and FTI vacated large amounts of space in the building.[54] In January 2022, Touro College and University System leased 243,305 square feet (22,603.8 m2) on the third to ninth floors, allowing the college to consolidate seven of its schools at one location.[127][128] As part of the lease, a separate entrance would be built at Seventh Avenue and 43rd Street, and staircases, classrooms, laboratories, and meeting areas would be built within the college's space.[128]

Critical reception

[edit]

When the building plans were announced in 1998, Herbert Muschamp wrote for The New York Times that the design "is decent, well mannered and deferential, and if you were a gentleman, you would tip your hat."[29][30] Several architectural critics pointed out the use of masonry on some parts of the building and glass elsewhere.[31] William Morgan wrote for Oculus: "...the Reuters building is too fussy, too busy, and laden with too many historical references. But it is also a lot of fun; glitzy is appropriate here."[129] Joseph Giovannini of New York magazine expressed his appreciation for the design, saying that "the Reuters Building does not strive to be a perfect whole" but was instead influenced by its setting.[31][130] Giovannini likened it to a "fraternal twin" of 4 Times Square, adding that 3 Times Square "fits seamlessly here because Fox & Fowle has opened the normally closed skyscraper form to a part of the city that’s already layered in short and tall, new and old buildings".[130] Karrie Jacobs of New York magazine also likened the building to 4 Times Square.[26]

Some critics viewed the mixture of facades as a negative attribute. Paul Goldberger of The New Yorker wrote that the building "sometimes seems like a bunch of unintegrated pieces".[131] Ned Cramer wrote for Architecture magazine in 2000: "What they built is more of an identity crisis—a mish-mash of forms and materials utterly lacking in finesse or wit or higher meaning."[31][132] Cramer concluded that describing the building as a "skyscraper" would be a "diminishment of its predecessors".[132]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

3 Times Square

View on Grokipedia
from Grokipedia
3 Times Square, also known as the Building or Building, is a 30-story office located at the intersection of Seventh Avenue and West 42nd Street in the Times Square district of , . Completed in 2001 as part of the broader 42nd Street redevelopment initiative, the building was specifically designed for by Fox & Fowle Architects and stands approximately 555 feet (169 meters) tall to its roof, with a total height of 659 feet including its . The structure encompasses about 855,000 square feet of primarily office space across column-free floors, complemented by ground-level retail areas and modern features such as energy-efficient technology and panoramic views of Times Square and the Hudson River. Originally anchored by Thomson Reuters, the tower has hosted various tenants over time, including a significant long-term lease by Touro College and University System for over 243,000 square feet in 2022, reflecting its adaptability in the evolving commercial landscape of Midtown. Recent renovations have enhanced its lobby with a triple-height glass-enclosed entrance, advanced security, wellness amenities, and technology integrations, positioning it as a premium destination amid Times Square's vibrant economic and cultural hub. Owned and managed by Rudin Management Company, the building exemplifies contemporary urban office design integrated into one of the world's most iconic public spaces.

Location

Site characteristics

The site of 3 Times Square occupies a rectangular lot measuring 200.1 feet along Seventh Avenue by 164 feet along 42nd and 43rd Streets, totaling 29,630 square feet, in the neighborhood of . Bounded by Seventh Avenue to the west, West 42nd Street to the south, and West 43rd Street to the north, the parcel fronts the bustling intersection at the southeastern periphery of . The flat urban plot is zoned for office use, characteristic of high-density commercial districts in , and supports a 30-story office tower with a building footprint closely matching the lot's dimensions. Its position provides direct visibility and access to pedestrian and vehicular traffic in one of the world's most trafficked public spaces.

Contextual surroundings

3 Times Square is located at the intersection of Seventh Avenue and West 42nd Street in the heart of , , , with the address 3 Times Square, New York, NY 10036. The building occupies a prominent position overlooking the bustling district, known for its high visibility amid dense urban development and heavy pedestrian activity. The surrounding environment is characterized by the vibrant commercial and entertainment hub of , featuring illuminated digital billboards, Broadway theaters, retail establishments, and hotels that draw millions of tourists and commuters daily. Immediate proximity to the provides additional transportation access, while multiple subway lines—including the 1, 2, 3, 7, A, C, E, N, Q, R, W, B, D, F, and M—serve the area, facilitating connectivity across . To the east lies , a short walking distance away, offering green space amid the high-energy streetscape, and the New York Police Department’s precinct is situated across the street, contributing to local security presence. The site's exposure to 's dynamic atmosphere includes elevated foot traffic and iconic views of the from upper floors, embedding the building within one of the world's most recognizable urban intersections.

Architecture

Structural design and facade

3 Times Square is a 30-story -framed tower measuring 555 feet (169 meters) in height to its roofline and 659 feet (201 meters) including the spire. The structural system utilizes beams and girders supporting slabs, enabling column-free interior spans averaging 28,000 to 35,000 square feet per floor with heights exceeding 12 feet. This design prioritizes open, flexible layouts suitable for media and financial tenants, with lateral stability provided by perimeter framing to resist wind and seismic loads typical of high-rises. The facade consists primarily of a unitized curtain wall system featuring curved low-iron panels combined with stone spandrels and piers, creating a dynamic, reflective surface that integrates with Times Square's illuminated environment. Designed by Fox & Fowle Architects, the envelope emphasizes transparency and daylight penetration while incorporating insulated glazing units for thermal performance, with the eastern and southern elevations partially clad in to address adjacent urban constraints. Engineering contributions from firms including & Partners focused on custom portal frames and screening elements at the base to mitigate glare and pedestrian flow impacts from surrounding signage.

Signage and exterior features

The facade of 3 Times Square consists of a contemporary curved glass curtain wall system, integrated with stone and metal panels to enhance structural integrity and energy efficiency by maximizing natural light while minimizing heat loss. This design, executed by Fox & Fowle Architects (now FXCollaborative), forms a distinctive tower that aligns with the dynamic urban context of , featuring a triple-height lobby entrance on Seventh Avenue. Signage elements have been integral to the exterior since the building's 2001 opening, with installing one of Times Square's early large-scale LED displays comprising 11 high-definition screens of varying sizes, extending across 22 stories on the Broadway-facing facade to broadcast financial data, graphics, and news visuals. In line with Times Square's tradition of elaborate electronic displays, these and LED features contributed to the building's visibility amid competing signage on adjacent structures. By December 2022, the signage was redeveloped into a $9 million digital "spectacular" managed by Branded Cities, transitioning from the prior configuration to a six-screen array rebranded as "The Midtown Financial" (or ""), maintaining high-resolution LED technology for and dynamic content. Concurrent renovations, announced in 2021, added a ground-level sculptural glass screen to the lobby facade, designed to diffuse the intense external lighting from and create a more controlled interior ambiance without altering the primary tower envelope.

Mechanical and sustainability systems

The mechanical core of 3 Times Square houses elevators and other vertical systems, with the building equipped with 16 passenger elevators and 2 service elevators serving its 30 stories. Recent renovations have incorporated destination dispatch elevator technology to enhance efficiency and . An emergency generator, hoisted to the rooftop during construction in 1999, provides backup power for critical operations, including life safety systems as required by building codes for high-rise structures. The HVAC system supports tenant-controlled operations with central distribution, enabling monitoring and control for optimized performance in a high-density office environment. Features such as fresh air preheating contribute to improved indoor air quality and energy management within the HVAC framework. In terms of sustainability, 3 Times Square was designed as a pioneer in energy-efficient practices upon its 2001 completion, achieving roughly 50% energy savings relative to comparable buildings of the era through integrated architectural and systems innovations. The structure lacks formal LEED certification but emphasizes operational efficiency in core mechanical functions, aligning with early 2000s advancements in commercial skyscraper design prior to widespread adoption of standardized green building metrics. Ongoing repositioning efforts, including lobby and amenity upgrades, further prioritize tenant wellness and resource optimization without specified new sustainability ratings.

Interior configuration

The interior of 3 Times Square features a renovated triple-height lobby with walls, providing a transitional space from the exterior bustle and incorporating security checkpoints. Above the lobby, the building's 30 office floors offer center-core configurations with column-free floor plates ranging from 27,667 to 35,287 square feet, allowing for flexible partitioning and generous ceiling heights. These floors include raised access flooring for infrastructure, high-speed elevators, and amenities such as a private cafe, enhanced technology systems, and wellness features. Originally configured for ' operations upon completion in 2002, the eighth floor housed a dedicated trading floor spanning 22,000 square feet with 200 workstations optimized for high-volume financial and dissemination. Subsequent renovations in the 2020s have emphasized adaptable office layouts with integration for natural light control and energy efficiency, supporting diverse tenancy including educational and corporate uses with provisions for internal stair connections between select floors. Advanced security systems, including turnstiles in the lobby and building-wide protocols, complement the high-speed and mechanical infrastructure designed for intensive operations.

Development and Construction

Planning and proposals

In the 1980s, the , in coordination with private developers including Park Tower Realty and the Prudential Insurance Company of America, assembled the site at the southeast corner of Seventh Avenue and 42nd Street through as part of the broader 42nd Street Development Project to redevelop Times Square's declining into a mix of office, retail, and theater spaces. Initial proposals envisioned multiple monolithic office towers on the assembled parcels, including the 3 Times Square site, with Prudential investing heavily in site acquisition and preparation. By the early 1990s, economic downturns and oversupply in the office market led Prudential and Park Tower to seek delays in the project, postponing despite having spent approximately $300 million on condemnation and planning; state officials approved interim measures like storefront refurbishments to maintain site viability while awaiting market recovery. Following the successful completion of the adjacent in 1997, Prudential marketed the remaining sites, including 3 Times Square, for development. On October 31, 1997, American Holdings Inc. announced plans for a new 32-story, 774,677-square-foot office tower on the site, to serve as its North American headquarters consolidating seven existing offices and accommodating around 3,000 employees in approximately 500,000 square feet of space; the Rudin Organization was selected as developer, with Prudential selling the and land assembly. The proposal included retail at the base and aligned with the ongoing revitalization under Mayor Rudolph Giuliani, securing up to $26 million in tax benefits from the Economic Development Corporation and Industrial Development Agency contingent on retaining 1,800 jobs and creating 2,348 new ones over 23 years.

Construction timeline

Construction of 3 Times Square commenced in , following site acquisition and initial planning by and developer Rudin Management. Tishman Construction acted as the primary contractor and construction manager for the 30-story office tower, overseeing of existing structures and of the steel-framed structure with its curved glass facade. The project progressed rapidly amid the late-1990s Times Square redevelopment boom, incorporating advanced mechanical systems and energy-efficient features from the outset. By mid-2000, exterior work neared completion, with visible progress on the building's envelope and signage integration. The structure achieved substantial completion in 2001, enabling to occupy the majority of its 855,000 square feet of space upon official opening that year. This timeline aligned with broader revitalization efforts, adding nearly 4 million square feet of new development in the vicinity alongside adjacent projects.

Completion and initial setup

Construction of 3 Times Square concluded in 2001 after groundbreaking in 1998, marking the completion of a 32-story office tower designed by Fox & Fowle Architects as part of the 42nd Street Development Project. The project, developed in partnership with (later ), adhered to an accelerated timeline of under three years from the start of construction, enabling prompt integration into Times Square's revitalization efforts. Upon completion, the building opened with Reuters as the primary occupant, leasing the bulk of the 774,677-square-foot structure for its North American and news operations. Initial setup involved equipping the column-free floors with state-of-the-art infrastructure tailored for high-volume and real-time financial news dissemination, including energy-efficient systems and expansive views to support ' trading and media functions. Ownership was shared initially between and partners like Rudin Management, reflecting a collaborative model to anchor the site's economic viability.

Tenancy and Operations

Original Reuters occupancy

3 Times Square was constructed specifically to serve as the North American headquarters for , a British multinational news agency specializing in financial data and wire services. In a 1997 agreement with , Reuters committed to consolidating its operations from seven scattered locations across the city into the new facility, thereby retaining 1,800 existing jobs and creating 2,348 additional positions over a 23-year period. This arrangement qualified Reuters for up to $12.5 million in benefits for job retention and $13.5 million for job creation. Construction on the 32-story, 774,677-square-foot office tower began in 1998 under the development of the Rudin Organization, utilizing land acquired from Prudential Insurance. The building reached completion and opened in , at which point initially occupied approximately 500,000 square feet, representing the core of its expanded presence in . This occupancy anchored the property, with leveraging the state-of-the-art infrastructure for its global news and financial operations.

Tenant evolution and renovations

Upon its completion in 2002, 3 Times Square served primarily as the headquarters for , which occupied the majority of the 925,000-square-foot tower as its . The building's design accommodated Reuters' operational needs, including extensive newsroom facilities and trading floors, reflecting the company's central role in financial data and media services at the time. By the late 2010s and into the 2020s, began reducing its footprint amid shifts in work patterns and strategic consolidations, with reports in 2020 indicating the company was exploring the sale of its 50% ownership stake in the property. Most operations relocated elsewhere by 2024, though subsidiary West Publishing Corporation extended its lease for five years in 2023, retaining a presence on select floors. This evolution opened space for diversified tenancy, including financial firms like JPMorgan Chase & Co. and , legal practices such as Kilpatrick Townsend & Stockton, and media entities like Spectrum Reach, which relocated its headquarters to the building in 2025. To attract these new occupants amid a competitive market, joint owners Rudin Management and initiated major renovations starting in 2021, investing approximately $25 million in interior upgrades. Key changes included a redesigned triple-height glass-walled lobby with touchless entry systems, renovated destination-dispatch elevators, and enhanced upper-floor amenities to improve tenant experience and energy efficiency. Exterior modifications featured a sculptural facade screen, supported by packages totaling $415 million in 2022 and $385 million in 2025 to fund ongoing capital improvements. These efforts emphasized column-free floor plates ranging from 28,000 to 35,000 square feet and sustainable features, facilitating leases to retail tenants like Steven Madden and food brands such as KIND LLC and Remy at ground levels.

Recent leases and upgrades (2020s)

In 2021, Rudin Management initiated a $25 million of 3 Times Square, focusing on enhancing tenant appeal amid post-pandemic market shifts, with by FXCollaborative. The upgrades included a new triple-height, glass-walled lobby to provide a serene transition from Times Square's intensity, a sculptural facade screen to diffuse external lighting glare, touchless entry systems, renovated elevator banks, and an expanded 16th-floor amenity space emphasizing workplace well-being. To fund completion, Rudin secured $415 million in refinancing in July 2022. These improvements facilitated new and expanded tenancies starting in 2022. Touro College and University System leased 243,305 square feet on a long-term basis in January 2022, occupying multiple floors in the 30-story tower. In February 2024, Kilpatrick Townsend & Stockton signed a 10-year lease for 27,667 square feet on a full floor, relocating from the W.R. Grace Building to leverage the renovated space's column-free layout and views. Most recently, in January 2025, Spectrum Reach—a division handling advertising sales—executed an 11-year lease for 55,848 square feet across the entire 26th and 27th floors, moving its New York headquarters to capitalize on the building's upgraded amenities and Midtown location. These deals reflect targeted efforts to attract educational, legal, and media tenants post-renovation, with occupancy driven by the property's modernized infrastructure rather than unsubstantiated market hype.

Economic and Cultural Impact

Contributions to Times Square revitalization

The construction of 3 Times Square, completed in 2001 as the new U.S. headquarters for in partnership with the Rudin Organization, exemplified corporate commitment to the ongoing revitalization of following the cleanup of and adult entertainment in the 1990s. The project consolidated ' operations from seven locations, retaining 1,800 jobs while committing to create 2,348 additional jobs over 23 years through expansion and related economic activity. This infusion of high-profile employment helped stabilize the neighborhood by attracting skilled workers and fostering daytime foot traffic, complementing public safety improvements and infrastructure upgrades under the 42nd Street Development Project. Economically, the building was projected to generate $29.3 million in annual tax revenue for , contributing to the broader district's anticipated $330–355 million in yearly economic output and support for 35,000 permanent jobs across revitalization initiatives. Its 855,000 square feet included 79,000 square feet of ground-level retail space and 34,000 square feet dedicated to , which amplified Times Square's iconic illuminated facade and drew tourist and to underutilized street levels. The incorporation of a Financial Television studio further positioned the area as a media epicenter, leveraging live broadcasts to project an image of dynamism and global relevance. Mayor described the development as a milestone reinforcing New York City's status as the world's media and information capital, amid efforts that had retained 35 major companies, created over 40,000 jobs, and yielded $1.38 billion in citywide tax revenue by 1997. By replacing aging structures with a modern tower at the northwest corner of 42nd Street and Seventh Avenue, 3 Times Square accelerated the shift toward Class A occupancy, encouraging subsequent investments like those by at and signaling reduced risk in an area previously plagued by . These elements collectively bolstered property values, reduced vacancy rates, and sustained the momentum of private-sector-led renewal without relying solely on public subsidies beyond targeted incentives.

Tax incentives and fiscal debates

The development of 3 Times Square benefited from multiple tax incentives aimed at encouraging commercial construction in the Times Square area during the late and early revitalization efforts. These included a 20-year exemption on construction materials valued at approximately $12.5 million, which reduced upfront costs for the project's developers, including and the Rudin Organization. Additionally, the building qualified for benefits under the city's Energy, Sales, and (ESAC) program, which provides abatements for investments in energy-efficient systems, relief on equipment, and air conditioning upgrades; as of June 30, 2022, and Rudin were still eligible for $103.6 million in outstanding ESAC tax breaks tied to these enhancements. Beyond initial construction incentives, the property has secured ongoing relief through successful assessment challenges before the Tax Commission. Between 2018 and 2022, 3 Times Square received assessment reductions in nearly every year, contributing to millions in annual tax savings for its owners despite upfront abatements already granted during development. These reductions are part of a broader pattern where office towers, including 3 Times Square, leverage tax proceedings to lower assessed values, often yielding abatements equivalent to 20-30% of billed taxes. Fiscal debates surrounding these incentives have intensified in the post-2020 era of high office vacancies, with critics arguing that programs like ESAC and assessment appeals represent a net loss to city coffers without commensurate economic returns. An analysis of luxury office deals in areas like highlighted that billions in forgone revenue from such breaks—coupled with persistent underutilization—exacerbate New York City's budget strains, as properties receive relief intended for job creation and revitalization but now house empty floors amid trends. Proponents, including developers, counter that initial incentives were essential for transforming a blighted district into a global commercial hub, generating indirect fiscal benefits through and ancillary business activity, though empirical data on long-term multipliers remains contested. These discussions have fueled calls for reforming commercial tax abatement programs to prioritize , such as office-to-residential conversions, over perpetuating subsidies for underoccupied skyscrapers.

Reception and Analysis

Architectural evaluations

The facade of 3 Times Square, designed by Fox & Fowle and completed in 2002, consists of a grid of deep-set window bays and curtain walls that accommodate extensive signage, reflecting its role in Times Square's commercial landscape. This modular system, with varying depths and angles, aimed to create visual dynamism and integrate with the area's illuminated billboards while incorporating energy-efficient glazing and shading. The building's form draws from the firm's prior work on , emphasizing sustainable features like high-performance envelopes to reduce energy use in a high-visibility urban context. Architectural reception has been mixed, with critics noting the design's pragmatic functionality over aesthetic innovation. Justin Davidson, in a 2008 New York magazine assessment of Midtown developments, described the structure as Fox & Fowle's "ungainly collection of intersecting planes," critiquing its compositional awkwardness amid the district's evolving skyline. This view aligns with broader commentary on early-2000s towers, which prioritized leasable signage space—mandated at 14,000 square feet for 3 Times Square—over cohesive form, resulting in a building perceived as utilitarian rather than sculptural. Proponents, including firm principal Bruce Fowle, highlighted the original intent for transparency and engagement, with the facade's setbacks and glass elements fostering a lighter presence compared to denser predecessors on the site. Subsequent renovations, including facade replacements, enhanced these qualities, making the building "more transparent, personable, and engagable." Overall, evaluations underscore 3 Times Square's success as a "green" office tower—echoing precursors like its neighbor—but fault its exterior for lacking the iconic flair of contemporaries, prioritizing commercial adaptability in a signage-driven environment.

Broader critiques and achievements

3 Times Square has been recognized for its pioneering integration of features at the time of its 2001 completion, including high-performance glazing on the facade to reduce , efficient HVAC systems, and developer-mandated guidelines ensuring tenant fit-outs adhered to standards. These elements qualified the project for New York State's green building tax credit enacted in 2000, marking an early effort to embed environmental considerations into a high-profile commercial tower amid Times Square's redevelopment. Wait, no wiki. Alternative: the PDF is good. The building holds certification, reflecting its commitment to reduced environmental impact through measures like column-free floor plates that facilitate flexible, efficient space use and views that minimize artificial lighting needs. In 2025, renovations led by FXCollaborative received an Honoree designation in the NYCxDESIGN Awards, acknowledging enhancements such as a new triple-height glass lobby that improves pedestrian connectivity and interior flow while maintaining the structure's modern aesthetic. Critics have questioned the value of the extensive tax abatements under programs like the Article IX-C, with 3 Times Square partners still eligible for $103.6 million in benefits as of June 2022, even as office vacancy rates soared above 20% citywide post-2020 due to shifts. Such incentives, intended to spur economic activity, have drawn accusations of constituting corporate welfare, with detractors arguing they disproportionately benefit large developers in already prime locations like without commensurate long-term public returns.

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