Jamestown is redeveloping the iconic One Times Square building—the site of the New Year's Eve ball drop—in a $500 million initiative that the company says will reposition the 118-year old building into a visitor center for New York City.
The redevelopment will open much of the building's interior to the public for the first time in decades and will include a new viewing deck and museum. Investment will be made in advertising technology as well, to allow brands to provide immersive digital, virtual and augmented reality-based experiences throughout 12 floors of the 26-story building.
"This $500 million redevelopment will transform a largely empty and inaccessible property into an alive and welcoming building for all who stop by," said Congressman Jerrold Nadler in prepared remarks.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
