New york Times Building is empty all the year round. Why build this building?

Although Times Square A is mostly empty, it is still very profitable. The landmark building of Times Square is famous for the ball falling on New Year's Eve. In fact, there is almost nothing there. Originally built in 1904 new york times headquarters, the area was basically undeveloped at that time. Lehman Brothers acquired the building on 1995 and turned it into a giant billboard today. Jamestown real estate rents three floors and a top floor. On new year's eve, the ball is stored all the year round and is currently owned. Most floors are vacant, graffiti and dilapidated, but billboards generate more than $23 million a year. The place we call Times Square is called Lancry Square, and the headquarters moved there in 1904, although they surpassed the building in 19 13. Despite this name, it is not a square at all. Anyone who has been there knows that it is actually a triangle, because Broadway crosses the grid obliquely. You'll never know that the streets are completely Disney now, but in the 1960s and 1970s, drugs and crime were rampant here. In new york Times Square, there is a special building, a Times Square, which is empty all the year round, but it can bring in 23 million dollars a year. Its secret is outdoor billboards. Yes, in this era of land and money, some people are willing to build a 25-story building for an outdoor billboard. Times building? Fox TV news is being broadcast on the world's largest super-large display screen with 120? The super-large scale of 90 feet and superb definition have attracted the attention of many tourists. The familiar Nasdaq and Dow Jones stock information advertisements on the right also occupy several floors, and the floors on the left and right are a sea of huge advertisements? Sony, Canon, Hitachi, Sharp, Panasonic, Samsung? The CEO of Times Square is Michael Phillips. He bought this kind of building in 1997 for1.1.70 million dollars. He is satisfied with the advertising fee alone and doesn't have to rent it to others. According to the statistics of Time Advertising Management Alliance, there are about 6,543.8+billion tourists in this East every year, which is 90% higher than before 16( 1997). Of course, the advertising fee has doubled. Michael Phillips thinks that the advertising price of this building is really high, but it is also worth it. The purpose of building such a building is only to make billboards, which is also the original intention of the New York Times Building.