One Times Square has hosted the annual New Year's Eve celebration in Times Square since 1904.
The building, originally called the Times Tower, became the focus of the celebration after The New York Times moved its headquarters there. On December 31, 1904, the newspaper held a fireworks celebration to mark the opening of its new building and the arrival of the new year. Fireworks were later replaced by the illuminated ball descent, which began in 1907.
One Times Square is located at the southern end of Times Square in Manhattan. The surrounding plaza and streets now accommodate a large public gathering, but the building remains the event's historic anchor. The New York Times moved away in 1913, yet the name and tradition continued.
The venue is sometimes confused with nearby Broadway theaters or Madison Square Garden. Those are separate places. Times Square itself is a commercial intersection and entertainment district, while One Times Square is the specific tower traditionally connected with the countdown.