Walk through the intersection of 42nd Street and Seventh Avenue and your neck probably hurts from looking up. Most people just see the neon blur of the "Crossroads of the World," but there is one specific skyscraper that actually tells the story of how New York office life is basically evolving in real-time. I’m talking about 3 Times Square. You might know it as the old Reuters Building. It’s that massive, glass-clad tower that anchors the northern end of the square, but honestly, it’s currently undergoing a transformation that makes it way more interesting than just another skyscraper in a crowded skyline.
It's 2026. The world of work has shifted. If you’re a business owner or just someone interested in how Manhattan real estate actually functions, you’ve got to look at what’s happening inside this specific 30-story tower.
The 3 Times Square Identity Crisis (And Recovery)
For years, 3 Times Square was synonymous with BMO and Reuters. It was a fortress of finance and media. But when those anchor tenants started shifting their footprints, the building had to decide what it wanted to be when it grew up. It couldn’t just be a place where people sat in grey cubicles anymore. Rudin Management and Thomson Reuters, who own the spot, realized that if they didn't modernize, they’d be left with a very expensive, very empty glass box.
They threw over $25 million—honestly, probably closer to $30 million when all is said and done—into a massive capital improvement program. This wasn't just a fresh coat of paint. We are talking about a total reimagining of how a building interacts with the street and its tenants. They knew the "flight to quality" was real. Companies don't want "okay" offices anymore; they want places that actually convince employees to leave their couches.
The new lobby is the first thing you notice. It’s not that cold, intimidating corporate entrance anymore. It’s open. It’s bright. It uses a lot of natural wood and stone to soften the "Times Square-ness" of it all. If you’ve ever been stuck in a tourist crowd outside, stepping into that lobby feels like hitting a mute button on the city. It’s a necessary relief.
What's Actually Inside the Tower Now?
You’ve got roughly 885,000 square feet of space in this thing. That is a lot of room to fill. Recently, some pretty big names have signed on, proving that the Midtown office market isn't dead—it’s just picky.
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Touro University is a huge player here. They took over a massive chunk of the building—around 245,000 square feet—to create a consolidated urban campus. It’s a smart move. Having students and faculty circulating through a building that was once strictly suits and ties changes the energy. It’s a mix of education and commerce that you don't always see in these trophy towers.
Then you have the tech and service firms. Anaplan moved in. Remitly took space. These are companies that need to attract young talent who want to be near every subway line imaginable. Because, let’s be real: 3 Times Square is arguably the most accessible building in the entire city. You have the 1, 2, 3, 7, N, Q, R, W, and S trains literally right underneath you. If you can’t get your employees to show up here, you probably can't get them to show up anywhere.
The building also features some "cool" factor stuff that actually matters for retention. There’s a dedicated amenity floor.
- A fitness center that doesn't feel like a basement.
- Conference spaces that actually have working Wi-Fi.
- A lounge area where you can actually eat a sandwich without feeling like you're in a library.
The Spire and the Screens
We can't talk about 3 Times Square without talking about the signage. This is Times Square, after all. The building features one of the most iconic digital displays in the world. It’s that wrap-around LED screen that everyone takes selfies in front of.
From a business perspective, that signage is a goldmine. It’s not just "decor." It’s a massive revenue stream. The brands you see flashing on the side of 3 Times Square pay a premium for that exposure because millions of eyes hit that corner every single month. It is one of the few places on Earth where the building's exterior is just as valuable as the square footage inside.
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Why the Location is a Double-Edged Sword
Look, I’ll be honest with you. Working in Times Square is a choice. Some people love the energy; others hate the "Elmo factor."
If you’re a tenant at 3 Times Square, you are dealing with the busiest pedestrian traffic in North America. That means lunch options are either "overpriced tourist trap" or "fast-casual chain." However, the building owners have been trying to bring in better retail to the base of the tower to fix this. They want to create a bubble of quality within the chaos.
The security at 3 Times Square is also top-tier. You’d expect that given the location, but it’s sophisticated. It doesn't feel like a TSA checkpoint, but you definitely feel the layers of protection. In a post-2020 world, that sense of safety is a major selling point for global firms.
Sustainability Isn't Just a Buzzword Here
New York City has some of the strictest building emissions laws in the country—specifically Local Law 97. If these old towers don't modernize, they get hit with massive fines. 3 Times Square has been aggressively upgrading its HVAC systems and glass insulation.
It’s LEED Gold certified. That actually matters for the bottom line. Large corporations today have ESG (Environmental, Social, and Governance) requirements. They literally cannot rent space in a building that is an energy hog. By going green, Rudin ensured that 3 Times Square stayed on the shortlist for Fortune 500 companies. It’s a defensive move that pays off in high occupancy rates.
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Practical Insights for Navigating 3 Times Square
If you are heading there for a meeting or looking at it for potential office space, here is the ground-level reality you need to know.
First, the entrance. Make sure you know which one you’re using. The main lobby is on Seventh Avenue, but there are service and side entrances that can be confusing if you’re following a buggy GPS signal in Midtown. The GPS "bounce" in Times Square is real because of all the steel and signals, so look for the physical signage, not just the blue dot on your phone.
Second, the commute. If you are coming from Grand Central or Penn Station, it’s a breeze. The 42nd St Shuttle (the S train) connects you to the East Side in about two minutes. If you’re a commuter from Jersey or Westchester, this is probably the least painful office location in the city.
Third, the views. If you can get above the 15th floor, the views of the Hudson River to the west and the Chrysler Building to the east are actually pretty stunning. Most people think a Times Square office just looks at other screens, but the tower is positioned well enough to catch some actual horizon.
Next Steps for Business Owners and Real Estate Pros
If you're evaluating 3 Times Square as a potential home for your business, don't just look at the floor plans.
- Request a "Day in the Life" Tour: Ask the leasing agents to show you the tenant-only lounge during peak hours. See if it’s actually functional or just for show.
- Audit the Commute: Have a few employees test the walk from different subway lines during the 5:00 PM rush. It’s one thing to see it on a map; it’s another to navigate the crowds after a long day.
- Check the Tech: Verify the fiber-optic capabilities. For tech-heavy firms, 3 Times Square has some of the best connectivity in the district, but you want to see the "WiredScore" certification details for your specific floor.
- Review the Retail Mix: See what new food and beverage options are slated for the ground floor. A building is only as good as its coffee and lunch access.
3 Times Square has successfully transitioned from a 20th-century media hub into a 21st-century "everything" building. It’s a mix of university students, tech disruptors, and financial stalwarts. It proves that even in the middle of the world's loudest neighborhood, you can find a way to build a sophisticated, quiet, and highly efficient place to get things done. It’s not just a landmark; it’s a survivor.