One Times Square was originally constructed in 1904 to serve as the headquarters of The New York Times (hence the name). Despite making a big deal out of their giant concrete dick, they ended up moving out only eight years later. That's right, even the people who named Times Square couldn't stand to stay there for too long. Here's what the building looked like back then:
Was there ever not traffic in New York?
After its most recent owners went bankrupt in 1992, the building was sold to Lehman Brothers. Rather than house new tenants in the tower, they had more lucrative residents in mind: ads. Shitloads and shitloads of ads. The firm had large screens crudely attached to the facade of the building, and now One Times Square rakes in $23 million a year, despite having zero tenants.
Unless the graffiti-scrawling ghosts count as tenants.