Times Square in Manhattan was so named in 1904 in anticipation of completing the newly-constructed headquarters of The New York Times newspaper at the convergence of Broadway and 7th Avenue at 43rd Street, an area previously called Longacre Square.
With its distinctive narrow wedge-shaped tower, the New York Times Building was a prominent architectural landmark and provided access to the new Times Square subway station through its arcade level.
Starting on December 31st, 1904, the Times celebrated New Year’s Eve annually with rooftop fireworks, and for 1908, an illuminated ball was lowered down the building’s flagople at midnight. The annual ball drop continues to this day and is a focal point of New York City’s New Year’s Eve celebrations.
The New York Times quickly outgrew the space and relocated to bigger offices on West 43rd Street in 1913, but the Times Square name endured.