NEW YORK | 1 Times Square Redevelopment

NYguy · #1 Posted **May 6, 2022, 8:09 PM**

This one will be great for a view of Times Square from above…

https://www.curbed.com/2022/05/one-t...vertising.html

One Times Square, Long Empty, Will Now Bring the Billboards Inside
By Kim Velsey

Quote:

….. Jamestown, the longtime owner of Chelsea Market (which Google bought for $2.4 billion in 2018) plans to lease 12 floors of One Times Square for branded experiences. Companies will take over half or full floors, building out immersive spaces with digital, virtual, and augmented-reality integrations. They’ll likely be similar to the interactive van Gogh exhibit, but instead of feeling surrounded by fields of sunflowers, visitors might be immersed in the world of Coca-Cola or Kia. (Jamestown estimates that leases will run three to five years, long enough for companies to justify extensive build-outs but only about a third of what a traditional commercial lease would be

Another six floors will become a museum that will “tell the story of the building, New Year’s Eve celebration, and its place in the history of Times Square” — that is, kind of an ad for Times Square itself.

The whole thing will be topped with a viewing deck, the go-to for any new tourist attraction these days, though One Times Square has the distinction of being not so much above it all, like One Vanderbilt or the Empire State Building, but very much in the middle of things. “It’s the only building in the world that has a physical piece — celebrating New Years and the ball dropping — and also an advertising piece. It’s the only one that ties everything together,” said Michael Phillips, the company’s principal and president.

NYguy · #2 Posted **May 6, 2022, 8:10 PM**

Another look, from the Post…

https://nypost.com/2022/05/06/one-ti...-visitors/amp/

Busy Bee · #3 Posted **May 6, 2022, 8:14 PM**

It kind of appears they're planning on bringing back the zipper, which is all I really want anyway.

NYguy · #4 Posted **May 6, 2022, 8:16 PM**

https://nypost.com/2022/05/06/one-ti...-eve-visitors/

One Times Square, site of New Year’s Eve ball drop, is getting a revamp

By Steve Cuozzo
May 6, 2022

Quote:

Owner Jamestown plans a half-billion-dollar transformation of One Times Square, the long-empty building where Broadway and Seventh Avenue cross West 42nd Street. The 118-year-old tower now serves as a mast for LED advertising signs and as the site of the world-famous ball-drop.

The 26-story structure will have an all new look by 2024, including a new facade and new windows. An indoor, 12-floor visitors center is to have a Times Square museum, interactive and virtual-reality experiences, and an outdoor viewing deck overlooking the “Crossroads of the World.”

Quote:

The famous, north-facing LED signs that light the entire “Bowtie” north to West 47th Street will remain in place and the ball-drop will also function during reconstruction.

“Advertisers will be able to continue to broadcast their messages to the Times Square crowds throughout the construction period,” Jamestown president Michael Phillips said.

MAC123 · #5 Posted **May 6, 2022, 9:13 PM**

That observation deck looks absolutely amazing.
Wrap around, open air, modern, a prime location. Chefs kiss.
During NYE I fully expect the prices to be astronomical in not the entire thing to be exclusive. (Maybe to entertainment shows? Or just someone rich enough to rent it out.)

NYguy · #6 Posted **May 7, 2022, 4:25 AM**

It like that they will go into the history. That deck will be amazing.

• Video Link

NYguy · #7 Posted **May 7, 2022, 12:07 PM**

NYguy · #8 Posted **May 14, 2022, 4:12 AM**

https://therealdeal.com/2022/05/13/j...-times-square/

Jamestown lands $425M to bring the metaverse to One Times Square
Firm planning $500M transformation

May 13, 2022

Quote:

Jamestown is full-steam ahead in its $500 million metaverse-tinged redevelopment of One Times Square.

The firm landed $425 million in financing from JPMorgan Chase to cover most of the redevelopment, the Commercial Observer reported. About $208 million of debt refinances CMBS date that goes back to Jamestown’s acquisition loan in 1997.

Jamestown also landed an $88.7 million building loan and a $39.8 million project loan. Eastdil Secured’s Grant Frankel and Tanner McNeill were part of the team that brokered the financing.

With financing in place, Jamestown is ready to move forward with its redevelopment of the iconic property, home to the corner’s recognizable advertisements and the New Year’s Eve ball drop. The advertising will remain on while the redevelopment takes place.

Jamestown is planning to open 12 additional floors to the public at the century-old 25-story building, as well as installing a rooftop viewing deck that could come in handy every December 31st.

There’s also a goal to turn the property into something resembling the building’s counterpart in the metaverse, a virtual world hosted in the online world of Decentraland. To that end, Jamestown will be integrating virtual and augmented reality experiences into the design.

.....“We are reimagining how spaces can be experienced by leveraging the power of AR technology and creative storytelling,” Phillips said in a release regarding the redevelopment.

That belief will be put to the test with the One Times Square redevelopment, a 27-month process expected to conclude and open to the public in the summer of 2024.

NYguy · #9 Posted **May 26, 2022, 12:23 AM**

Glad to see this icon, among the classics, getting renewed attention. Some views over the years...

https://www.gettyimages.com/detail/n...?adppopup=true

https://www.gettyimages.com/detail/n...?adppopup=true