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3 Times Square, also known as the Thomson Reuters Building, is a 30-story
skyscraper A skyscraper is a tall continuously habitable building having multiple floors. Most modern sources define skyscrapers as being at least or in height, though there is no universally accepted definition, other than being very tall high-rise bui ...
at
Times Square Times Square is a major commercial intersection, tourist destination, entertainment hub, and Neighborhoods in New York City, neighborhood in the Midtown Manhattan section of New York City. It is formed by the junction of Broadway (Manhattan), ...
in the
Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough of Manhattan, serving as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Building, the ...
neighborhood of
New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
, New York, U.S. Located on Seventh Avenue between 42nd and 43rd Street, the building measures to its roof and to its spire. The building was designed by
Fox & Fowle FXCollaborative is an American architecture, planning, and interior design firm founded in 1978 by Bob Fox and Bruce Fowle as Fox & Fowle Architects. The firm merged with Jambhekar Strauss in 2000 and was renamed to FXFOWLE Architects in 2005 f ...
and developed by Rudin Management for news-media company
Reuters Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency ...
. The site is owned by the
New York City Economic Development Corporation New York City Economic Development Corporation (NYCEDC) is a public-benefit corporation that serves as the official economic development organization for New York City. NYCEDC gives its mission as strengthening business confidence in New York C ...
, though Rudin and Reuters have a long-term leasehold on the building. 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 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 4 Times Square (also known as 151 West 42nd Street or One Five One; formerly the Condé Nast Building) is a 48-story skyscraper at Times Square in the Midtown Manhattan neighborhood of New York City, New York, U.S. Located at 1472 Broadway, b ...
, 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

3 Times Square is on the western side of Seventh Avenue, between 42nd and 43rd Street, at the southern end of
Times Square Times Square is a major commercial intersection, tourist destination, entertainment hub, and Neighborhoods in New York City, neighborhood in the Midtown Manhattan section of New York City. It is formed by the junction of Broadway (Manhattan), ...
in the
Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough of Manhattan, serving as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Building, the ...
neighborhood of
New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
, New York, U.S. The
land lot In real estate, a land lot or plot of land is a tract or parcel of land owned or meant to be owned by some owner(s). A plot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the sam ...
is L-shaped and covers , with a
frontage Frontage is the boundary between a plot of land or a building and the road onto which the plot or building fronts. Frontage may also refer to the full length of this boundary. This length is considered especially important for certain types of ...
of on Seventh Avenue, on 42nd Street, and on 43rd Street. 3 Times Square is at the eastern end of a
city block A city block, residential block, urban block, or simply block is a central element of urban planning and urban design. In a city with a grid system, the block is the smallest group of buildings that is surrounded by streets. City blocks are th ...
that also contains the
Todd Haimes Bernard Todd Haimes (May 7, 1956 – April 19, 2023) was an American artistic director. He held various roles at Roundabout Theatre Company from 1983 until his death in 2023. Haimes was recognized for rescuing the company from bankruptcy and tr ...
,
Lyric Lyric may refer to: * Lyrics, the words, often in verse form, which are sung, usually to a melody, and constitute the semantic content of a song * Lyric poetry is a form of poetry that expresses a subjective, personal point of view * Lyric, from t ...
, and New Victory theaters. Other nearby buildings include 229 West 43rd Street and
1501 Broadway 1501 Broadway, also known as the Paramount Building, is a 33-story office building on Times Square between West 43rd and 44th Streets in the Theater District neighborhood of Manhattan in New York City. Designed by Rapp and Rapp, it was ere ...
to the north,
1500 Broadway 1500 Broadway (also known as Times Square Plaza) is an office building on Times Square in Midtown Manhattan, New York City, New York. Completed in 1972 by Arlen Realty & Development Corporation, the 33-story building is tall. The building repl ...
to the northeast,
One Times Square One Times Square (also known as 1475 Broadway, the New York Times Building, the New York Times Tower, the Allied Chemical Tower or simply as the Times Tower) is a 25-story, skyscraper on Times Square in the Midtown Manhattan neighborhood of ...
and
4 Times Square 4 Times Square (also known as 151 West 42nd Street or One Five One; formerly the Condé Nast Building) is a 48-story skyscraper at Times Square in the Midtown Manhattan neighborhood of New York City, New York, U.S. Located at 1472 Broadway, b ...
to the southeast, the Times Square Tower and 5 Times Square to the south, and the
New Amsterdam Theatre The New Amsterdam Theatre is a Broadway theatre, Broadway theater at 214 West 42nd Street (Manhattan), 42nd Street, at the southern end of Times Square, in the Theater District, Manhattan, Theater District of Manhattan in New York City, New Yor ...
to the southwest. An entrance to the
New York City Subway The New York City Subway is a rapid transit system in New York City serving the New York City boroughs, boroughs of Manhattan, Brooklyn, Queens, and the Bronx. It is owned by the government of New York City and leased to the New York City Tr ...
's
Times Square–42nd Street station The Times Square–42nd Street station is a major New York City Subway station complex located under Times Square, at the intersection of 42nd Street (Manhattan), 42nd Street, Seventh Avenue (Manhattan), Seventh Avenue, and Broadway (Manhattan ...
, served by the , is within the base of the building on 42nd Street. The subway entrance in the building is on 42nd Street, about west of its original location at the corner with Seventh Avenue. The entrance consists of a canopy extending above the sidewalk, as well as a staircase down to the station mezzanine. 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. 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. The surrounding area is part of
Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...
's
Theater District A theater district (also spelled theatre district) is a common name for a neighborhood containing a city's theater Theatre or theater is a collaborative form of performing art that uses live performers, usually actors to present experiences ...
and contains many
Broadway theater Broadway theatre,Although ''theater'' is generally the spelling for this common noun in the United States (see American and British English spelling differences), many of the extant or closed Broadway venues use or used the spelling ''Theatr ...
s. 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. The former theater then became the Rialto Theatre, which opened in 1916. The Rialto was rebuilt in 1935 and continued to operate until 1998, sharing a building at 1481 Broadway with several storefronts. The theater building, in its final years of operation, had a 500-seat theater and in retail.


Architecture

3 Times Square was designed by
Fox & Fowle FXCollaborative is an American architecture, planning, and interior design firm founded in 1978 by Bob Fox and Bruce Fowle as Fox & Fowle Architects. The firm merged with Jambhekar Strauss in 2000 and was renamed to FXFOWLE Architects in 2005 f ...
and developed by the Rudin family under Rudin Management.
Swanke Hayden Connell Architects Swanke Hayden Connell Architects was an international architecture, interiors and historic preservation firm with U.S. headquarters in New York City. History The firm was founded in New York in 1906 by Alexander Stewart Walker (1876–1952) and ...
designed the interiors.
Severud Associates Severud is a multinational structural engineering consulting firm headquartered in New York City, with additional offices in London and Paris. The firm has worked on over 12,000 projects around the world. History Severud was founded in the year ...
was the structural engineer, while
Tishman Construction THR Management LP, commonly referred to as Tishman, is an American corporation founded in 1898 that owns and develops real estate. The company is best known for being the contractor that built the original World Trade Center in New York City. T ...
was the main contractor. Other companies involved with the project included geotechnical consultant Langan Engineering, elevator contractor
Otis Worldwide Otis Worldwide Corporation ( branded as the Otis Elevator Company, its former legal name) styled as OTIS is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment. Based in ...
, and
mechanical, electrical, and plumbing Mechanical, Electrical, and Plumbing (MEP) refers to the installation of services which provide a functional and comfortable space for the building occupants. In residential and commercial buildings, these elements are often designed by specialize ...
engineer
Jaros, Baum & Bolles Jaros, Baum & Bolles Consulting Engineers, LLP (JB&B) is an American MEP ( Mechanical, electrical, and plumbing) and consulting engineering firm founded in 1915 by Alfred L. Jaros, Jr. and Albert L. Baum. The firm is best known for high-rise proj ...
. The building serves as the New York City offices of
Thomson Reuters Thomson Reuters Corporation ( ) is a Canadian multinational corporation, multinational content-driven technology Conglomerate (company), conglomerate. The company was founded in Toronto, Ontario, Canada, and maintains its headquarters at 1 ...
. Officially, the
New York City Economic Development Corporation New York City Economic Development Corporation (NYCEDC) is a public-benefit corporation that serves as the official economic development organization for New York City. NYCEDC gives its mission as strengthening business confidence in New York C ...
owns the structure. 3 Times Square has 30 usable floors above ground. The building measures to its architectural tip and to the top of the spire. The main roof is only high. 3 Times Square has of space. The building is part of the 42nd Street Development Project and, thus, could bypass many city
zoning In urban planning, zoning is a method in which a municipality or other tier of government divides land into land-use "zones", each of which has a set of regulations for new development that differs from other zones. Zones may be defined for ...
rules such as those relating to
floor area ratio Floor area ratio (FAR) is the ratio of a building's total floor area (gross floor area) to the size of the piece of land upon which it is built. It is often used as one of the regulations in city planning along with the building-to-land ratio. Th ...
(FAR). Bruce Fowle of Fox & Fowle estimated that the building had a FAR of 31, while ''The New York Times'' stated that the FAR was only 25.


Form and facade

The building's form was intended in part as a homage to the former Rialto Theatre. The Seventh Avenue portion of the facade is a curtain wall with a curve pointing southwest toward the nearby theaters on 42nd Street. The curved wall was intended to represent Reuters's corporate identity. At the top of the facade's southeastern corner is an illuminated blue wedge. Originally, this wedge had the Reuters logo. The wedge's presence allowed views of the nearby 5 Times Square from Times Square itself. The roof of the building had several satellite dishes, representing the building's satellite broadcasts. 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. In addition, the masonry facade contrasts with the curtain wall on Seventh Avenue. 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 Architectural terracotta refers to a fired mixture of clay and water that can be used in a non-structural, semi-structural, or structural capacity on the exterior or interior of a building. Terracotta is an ancient building material that transla ...
. 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. The lobby on Seventh Avenue is being redesigned with a triple-height glass wall . The glass wall contains a screen that is intended to refract light from other parts of Times Square. According to William Rudin of Rudin Management, the lobby was redesigned as a "sanctuary from all that's happening outside". 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. The walls deflect the
ultraviolet Ultraviolet radiation, also known as simply UV, is electromagnetic radiation of wavelengths of 10–400 nanometers, shorter than that of visible light, but longer than X-rays. UV radiation is present in sunlight and constitutes about 10% of ...
rays from sunlight.


Signage

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 1585 Broadway, also called the Morgan Stanley Building, is a 42-story office building on Times Square in the Theater District neighborhood of Manhattan in New York City, New York, U.S. The building was designed by Gwathmey Siegel & Associates ...
, several blocks north, had increased the value of that building. Furthermore, the New York state government required the building to contain at least of signage. Ultimately, 3 Times Square was designed with approximately of signage. There were originally supposed to be numerous news zippers on the facade, like those at One Times Square, but Fox & Fowle ultimately decided to use full-screen displays rather than zippers. The signs were designed by
Edwin Schlossberg Edwin Arthur Schlossberg (born July 19, 1945) is an American designer, artist, and author. A pioneer and leader of interactive museum installations, he is the founder and principal designer of ESI Design, a multidisciplinary firm specializing in ...
's firm, though George Stonbely helped make the signs. Advertising agency
R/GA R/GA is an innovation consultancy, and digital design and advertising agency, headquartered in New York City, with global offices in Austin, Los Angeles, San Francisco, Portland, London, Berlin, São Paulo, Buenos Aires, Singapore, Shanghai, Sy ...
designed the programming for the signage. Reuters and subsidiary
Instinet Instinet Incorporated is an institutional, agency-model broker that also serves as the independent equity trading arm of its parent, Nomura Group. It executes trades for asset management firms, hedge funds, insurance companies, mutual funds a ...
were allocated of signage. The Reuters sign, a 14-story-tall display at the corner of Seventh Avenue and 43rd Street, is composed of 14 panels. Near street level is a horizontal "crossbar" with nine screens just above the base. On the corner, above the "crossbar", is a screen measuring ; a balcony, originally designed for Instinet's president; and a vertical sign, measuring . The Reuters signage has 5.6 million LEDs and was used to display graphics, financial information, and other data. Rudin rented out another of signage. Some was for
Prudential Financial Prudential Financial, Inc. is an American financial services company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both Investor#Retail_investor, retail and institutional cus ...
, which had funded the project. Prudential's sign is placed at Seventh Avenue and 42nd Street and consists of five types of illumination. It had a logo measuring high as well as Prudential's name on a banner measuring wide. An additional sign for
Chase Bank JPMorgan Chase Bank, N.A., Trade name, doing business as Chase, is an American National bank (United States), national bank headquartered in New York City that constitutes the retail banking, consumer and commercial bank, commercial banking su ...
, measuring wide, was installed on the corner "rotunda" in 2004.


Mechanical features

Rudin and Reuters had developed 3 Times Square with
green building Green building (also known as green construction, sustainable building, or eco-friendly building) refers to both a structure and the application of processes that are environmentally responsible and resource-efficient throughout a building's li ...
features in part because it was eligible for a green-building
tax credit A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or a form of state "dis ...
passed in 2000. 3 Times Square is designed to reduce energy consumption by 30 percent compared to an office building of similar size. The Rudin family initially decided against installing
fuel cell A fuel cell is an electrochemical cell that converts the chemical energy of a fuel (often hydrogen fuel, hydrogen) and an oxidizing agent (often oxygen) into electricity through a pair of redox reactions. Fuel cells are different from most bat ...
s or photovoltaic panels in the building, as had been used at Fox & Fowle's previous design for 4 Times Square. The building was designed so it could collect power from fuel cells or PV panels if they were installed in the future. There are five generators on the roof, each capable of , for powering Reuters's offices in case of emergencies. An additional generator powers the building's main mechanical systems during emergencies. The heating plant includes two absorption chillers. The building is cooled by electric- and gas-powered cooling units, which can be activated or deactivated based on electrical rates. The coolers consists of two 650-ton gas chillers and two 1,350-ton electric chillers, as well as water-side
economizer Economizers (US and Oxford spelling), or economisers (UK), are mechanical devices intended to reduce energy consumption, or to perform useful function such as preheating a fluid. The term economizer is used for other purposes as well. Boiler, p ...
s. There is also central air-handling equipment on each story. 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. Air filters have been included in the building since its original design.


Interior

Structurally, the underlying rock is capable of supporting , which obviated the need for caissons in the foundation. There is about or of retail space at the base. 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. 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. New loading docks were built with 3 Times Square's construction, one of which was allocated for the New Victory. The lobby has security checkpoints with turnstiles. The office stories each have of space. The floors of 3 Times Square are arranged around a mechanical core with elevators, stairways, and other functions. The elevators contain a
destination dispatch Destination dispatch is an optimization technique used for multi-elevator installations, in which groups of passengers heading to the same destinations use the same elevators, thereby reducing waiting and travel times. This contrasts with the tra ...
system, wherein passengers request their desired floor before entering the cab, and touchless entry points. Generally, each story has a slab-to-slab height of as measured between the floor and ceiling. The 2nd and 4th stories are tall; the 3rd, 5th, 6th, and 7th stories are ; and the 8th and 9th stories are . The ceilings contain the
HVAC Heating, ventilation, and air conditioning (HVAC ) is the use of various technologies to control the temperature, humidity, and purity of the air in an enclosed space. Its goal is to provide thermal comfort and acceptable indoor air quality. ...
and lighting systems, allowing the office stories to be arranged flexibly. Reuters originally occupied 21 stories and arranged its offices in a modular layout. The eighth story originally contained an
Instinet Instinet Incorporated is an institutional, agency-model broker that also serves as the independent equity trading arm of its parent, Nomura Group. It executes trades for asset management firms, hedge funds, insurance companies, mutual funds a ...
trading floor with 200 workstations across . Two broadcast studios for Reuters were designed for the lower stories. and a newsroom was on the 19th story. Rudin and Reuters also installed high-speed communications wires connecting the building's offices. 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. A library and a fitness center are also planned for the space. Outdoor spaces are also present at the eighth, 20th, and 22nd stories.


History


Planning


Early plans

The
Empire State Development Corporation Empire State Development (ESD) is the umbrella organization for New York's two principal economic development public-benefit corporations, the New York State Urban Development Corporation (UDC) and the New York Job Development Authority (JDA). ...
(ESDC), an agency of the New York state government, had proposed redeveloping the area around a portion of West 42nd Street in 1981. Four towers designed by
Philip Johnson Philip Cortelyou Johnson (July 8, 1906 – January 25, 2005) was an American architect who designed modern and postmodern architecture. Among his best-known designs are his modernist Glass House in New Canaan, Connecticut; the postmodern 550 ...
and John Burgee were to be built around 42nd Street's intersections with
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street ** Broadway Theatre (53rd Stre ...
and Seventh Avenue, including one at the present-day site of 3 Times Square. The tower on 3 Times Square's site would have been 29 stories tall with . 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. 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. 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. The
Durst Organization The Durst Organization is one of the oldest family-run commercial and residential real estate companies in New York City. Established in 1915, the company is owned and operated by the third generation of the Durst family. Durst is the owner, ...
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. The Dursts' opposition, along with Prudential and Park Tower's inability to secure tenants for the proposed buildings, led government officials to allow Prudential and Park Tower to postpone the project in 1992. By then, Prudential had spent $300 million on condemning the sites through
eminent domain Eminent domain, also known as land acquisition, compulsory purchase, resumption, resumption/compulsory acquisition, or expropriation, is the compulsory acquisition of private property for public use. It does not include the power to take and t ...
. The partners retained the right to develop the sites in the future, and the ESDC's zoning guidelines remained in effect. 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. The Rialto was thus renovated in 1995 as part of the interim plan for Times Square. Klein ceded decision-making power for the sites to Prudential, which decided to exit the real-estate market altogether, selling off all four sites. Prudential and Klein dissolved their partnership in 1996. The same year,
Douglas Durst Douglas Durst (born December 19, 1944) is an American real estate investor and developer. He has been the president of The Durst Organization since 1992. Early life and education Durst was born in New York City in 1944 to a Jewish family, the ...
acquired the site at the northeast corner of Broadway and 42nd Street, and he developed 4 Times Square there.


Reuters proposal

Prudential decided to market the three other sites after the successful development of 4 Times Square. In March 1997, Prudential indicated its intent to sell the sites' development rights or lease the sites to developers. Among the interested developers was Durst, who was negotiating for the northwest corner of 42nd Street and Seventh Avenue. Durst had hired
Fox & Fowle FXCollaborative is an American architecture, planning, and interior design firm founded in 1978 by Bob Fox and Bruce Fowle as Fox & Fowle Architects. The firm merged with Jambhekar Strauss in 2000 and was renamed to FXFOWLE Architects in 2005 f ...
, architects of 4 Times Square, to design an office building of up to . He was discussing with news agency Reuters, publisher
Ziff Davis Ziff Davis, Inc. is an American digital media and internet company. Founded in 1927 by William Bernard Ziff Sr. and Bernard George Davis, the company primarily owns technology- and health-oriented media websites, online shopping-related servi ...
, and financial firm
Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...
as possible anchor tenants for a building on that site. Klein started discussing a possible partnership with Durst on the development of the site, but Durst's proposal did not succeed. 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. The following month, Reuters enlisted Rudin Management as its development partner. The building was to be 32 stories high and contain . The Rudin family had agreed to lease out some space that Reuters would not occupy. Reuters planned to occupy , while Rudin planned to lease out about of unused office space and of retail space. The development would make Reuters one of several large companies to build their U.S. headquarters in Manhattan. 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. The Rudin family and Reuters signed a modified agreement in February 1998. The administration of mayor
Rudy Giuliani Rudolph William Louis Giuliani ( , ; born May 28, 1944) is an American politician and Disbarment, disbarred lawyer who served as the 107th mayor of New York City from 1994 to 2001. He previously served as the United States Associate Attorney ...
agreed to give Reuters tax exemptions to encourage the development of the $400 million headquarters. 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. The tax breaks were controversial, with one critic saying that Times Square had become the "corporate welfare capital of the world". 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 wide, as well as two escalators. In April 1998, the
Metropolitan Transportation Authority The Metropolitan Transportation Authority (MTA) is a New York state public benefit corporations, public benefit corporation in New York (state), New York State responsible for public transportation in the New York metropolitan area, New York Ci ...
(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. An MTA inspector subsequently alleged that the Rudins should have paid $4 million to $5.9 million for not including the escalators.


Construction

By early 1998, demolition of buildings on the site of the Reuters Building was underway. Tishman Construction, the main contractor for the building, subcontracted the substructure work to Urban Foundation. The work consisted of excavating the site to a depth of . The basements of the old buildings on the site, which extended 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. A
groundbreaking Groundbreaking, also known as cutting, sod-cutting, turning the first sod, turf-cutting, or a sod-turning ceremony, is a traditional ceremony in many cultures that celebrates the first day of construction for a building or other project. Such cer ...
ceremony for the building occurred on January 11, 1999. 3 Times Square and its three neighboring developments would collectively add almost of office space. 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. At the time, rents for commercial space around Times Square were increasing drastically. Prudential loaned $270 million to Rudin for the building's construction. By August 1999, the building's steel superstructure was being erected, despite a shortage in skilled ironworkers citywide. Chinese "sidewalk artists" hung their portraits on the plywood construction fence that surrounded the site, prompting the
New York City Police Department The City of New York Police Department, also referred to as New York City Police Department (NYPD), is the primary law enforcement agency within New York City. Established on May 23, 1845, the NYPD is the largest, and one of the oldest, munic ...
to clear the artists from the sidewalk every night. The building
topped out In building construction, topping out (sometimes referred to as topping off) is a builders' rite traditionally held when the last beam (or its equivalent) is placed at the top of a structure during its construction. Nowadays, the ceremony is ofte ...
on December 10, 1999. 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. Reuters ultimately expanded its space to . The vacant office space was taken by
Bain & Company Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and nonprofit organizations. One of the Big Three (management consultancies), Big Three management co ...
, which leased in February 2000, and the
Bank of Montreal The Bank of Montreal (, ), abbreviated as BMO (pronounced ), is a Canadian multinational Investment banking, investment bank and financial services company. The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank, making it Canada ...
(BMO), which leased that June. After BMO's lease, all of the office space was signed for. About 50,000 square feet of retail space and of signs remained to be leased.


Usage


Reuters offices

The Instinet trading floor opened on May 7, 2001, with 700 employees. Reuters opened its 19th-floor newsroom two weeks later on May 22. The Reuters headquarters officially opened on June 4, 2001, with speeches from former U.S. Treasury secretary
Lawrence Summers Lawrence Henry Summers (born November 30, 1954) is an American economist who served as United States Secretary of the Treasury from 1999 to 2001 and as the director of the National Economic Council from 2009 to 2010. He also served as presiden ...
and former UN ambassador
Richard Holbrooke Richard Charles Albert Holbrooke (April 24, 1941 – December 13, 2010) was an American diplomat and author. He was the only person to have held the position of Assistant Secretary of State for two different regions of the world (Asia from 1977 ...
. In addition to Instinet's employees, Reuters had 1,100 workers at the building. Despite the
September 11 attacks The September 11 attacks, also known as 9/11, were four coordinated Islamist terrorist suicide attacks by al-Qaeda against the United States in 2001. Nineteen terrorists hijacked four commercial airliners, crashing the first two into ...
in
Lower Manhattan Lower Manhattan, also known as Downtown Manhattan or Downtown New York City, is the southernmost part of the Boroughs of New York City, New York City borough of Manhattan. The neighborhood is History of New York City, the historical birthplace o ...
shortly after the building's opening, Chase Bank took some retail space by the end of 2001. After the attacks, Instinet decided to open offices in New Jersey. Though Instinet still occupied at 3 Times Square, Reuters took some of Instinet's space. Shoe store
Skechers Skechers USA, Inc. is an American multinational footwear and apparel company. Headquartered in Manhattan Beach, California, it was founded in 1992 and is the third largest footwear brand in the world. History Skechers was founded in 1992 by R ...
had signed for another retail unit by mid-2002, and Europa Cafe also took some retail space. The Prudential sign at Seventh Avenue and 42nd Street started illuminating in December 2002. Not long after the Reuters Building opened, Instinet indicated it would downsize its staff and sublet at the building. Subsequently, six of Instinet's floor were listed for sublease in May 2003. Among the other tenants were pharmaceutical company Eyetech, as well as consulting firm FTI Consulting, the latter of which subleased part of its space to brokerage firm Integro. There was controversy in October 2003 when Reuters refused to air an advertisement by the
Methodist Episcopal Church The Methodist Episcopal Church (MEC) was the oldest and largest Methodist denomination in the United States from its founding in 1784 until 1939. It was also the first religious denomination in the US to organize itself nationally. In 1939, th ...
, though Reuters ultimately reversed its policy prohibiting religious advertising. The next year, Chase added a sign around the rotunda at Seventh Avenue and 42nd Street. Reuters announced a partnership with
Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
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. Following the September 11 attacks, Reuters had placed 13 planters on the sidewalk to protect the building against car bombs. The planters were removed in late 2006 after counterterrorism experts said the planters could turn into projectiles during vehicular attacks. Reuters merged in 2007 with Canadian media company
Thomson Corporation Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organization and Thomson Newspapers. In 2008, it purchased Reuters Group to form Thomson Reut ...
to form
Thomson Reuters Thomson Reuters Corporation ( ) is a Canadian multinational corporation, multinational content-driven technology Conglomerate (company), conglomerate. The company was founded in Toronto, Ontario, Canada, and maintains its headquarters at 1 ...
, and some Thomson offices relocated to 3 Times Square. The lower stories' retail space was taken up by an
AT&T AT&T Inc., an abbreviation for its predecessor's former name, the American Telephone and Telegraph Company, is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the w ...
phone store, as well as temporary pop-up stores in the 2010s. After Bain & Company announced its plans to relocate in late 2013, it subleased the space to BMO. In 2018, Thomson Reuters subleased some of its space to Kind Snacks, a manufacturer of protein bars and health foods. 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 , this placed the building's valuation at about $700 million.


Renovation and subsequent leases

Rudin Management announced in April 2021 that it would be renovating the building for $25 million. Rudin had hired FXCollaborative (which had been renamed from Fox & Fowle) to redesign the lobby and add a 16th-story amenity area. Rudin also hired
Cushman & Wakefield Cushman & Wakefield Inc. is an American global Commercial property, commercial real estate services firm. The company's corporate headquarters is located in Chicago, Illinois. Cushman & Wakefield is among the world's largest commercial real est ...
to market the space. The renovation came after BMO and FTI vacated large amounts of space in the building. In January 2022,
Touro College and University System Touro University is a Private university, private List of Jewish universities and colleges in the United States, Jewish university system headquartered in New York City, with branches throughout the United States as well as one each in Germany, ...
leased on the third to ninth floors, allowing the college to consolidate seven of its schools at one location. 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.


Critical reception

When the building plans were announced in 1998,
Herbert Muschamp Herbert Mitchell Muschamp (November 28, 1947 – October 2, 2007) was an American architecture critic. Early years Born in Philadelphia, Muschamp described his childhood home life as follows: "The living room was a secret. A forbidden zone. ...
wrote for ''
The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...
'' that the design "is decent, well mannered and deferential, and if you were a gentleman, you would tip your hat." Several architectural critics pointed out the use of masonry on some parts of the building and glass elsewhere. 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." Joseph Giovannini of ''
New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...
'' 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. 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". Karrie Jacobs of ''New York'' magazine also likened the building to 4 Times Square. Some critics viewed the mixture of facades as a negative attribute.
Paul Goldberger Paul Goldberger (born December 4, 1950)Brennan, Elizabeth A.; Clarage, Elizabeth C''Who's who of Pulitzer Prize winners'' Greenwood Publishing Group, 1999. Cfp.87on Paul Goldberger
of ''
The New Yorker ''The New Yorker'' is an American magazine featuring journalism, commentary, criticism, essays, fiction, satire, cartoons, and poetry. It was founded on February 21, 1925, by Harold Ross and his wife Jane Grant, a reporter for ''The New York T ...
'' wrote that the building "sometimes seems like a bunch of unintegrated pieces". 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." Cramer concluded that describing the building as a "skyscraper" would be a "diminishment of its predecessors".


References


Notes


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Sources

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External links

* * {{Thomson Reuters 2000s architecture in the United States 2001 establishments in New York City 42nd Street (Manhattan) Office buildings completed in 2001 Office buildings in Manhattan Seventh Avenue (Manhattan) Thomson Reuters Times Square buildings Towers in New York City