Which New Year's Eve event in New York City is traditionally watched from One Times Square?

The New Year's Eve event traditionally watched from One Times Square is the Times Square Ball Drop.

One Times Square was built as the headquarters of The New York Times and became the launch point for the midnight ball tradition. The newspaper moved into the building in 1905, and its publisher, Adolph Ochs, organized the first ball drop in 1907 after fireworks were no longer permitted for the celebration. The building remains the visual center of the ceremony even though the event now involves a huge surrounding area.

The ball descends about 60 seconds before midnight and reaches the bottom at the start of the new year. The current crystal-covered ball is far larger and more technologically advanced than the original iron-and-wood version. The event is distinct from Rockefeller Center's Christmas tree lighting, Macy's Thanksgiving Day Parade, and the Rose Bowl Parade, which take place at different times and locations.