The Times Square Theater, at 217 West 42nd Street, has been vacant for 25 years, but that could be about to change. The New York Post reports an agreement has been reached with Oracle Projects International, which the paper describes as "a Singapore-based producer and designer of technology-driven entertainment and multimedia events." The leasing agent for New 42nd St., which has a 99-year-lease on the Times Square Theater and several others on the row, wouldn’t confirm that, but did say, "We do have a tenant, and what they intend to do will be very cool."
There have been two failed attempts to revive the theater in recent years. First, Mark Ecko inked a deal that failed to produce anything after five years and then in 2012, it was supposed to become "Broadway 4D," but that was abandoned after paying rent for about four years.
Built between 1919 and 1920, the theater is run by New 42nd St and overseen by the state Historic Preservation Committee, but is not a city landmark. It sat on the Landmarks Preservation Commission’s backlog for nearly 34 years, but it was removed from the calendar without prejudice last month.