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Formerly named Longacre Square, Times Square was renamed in April 1904 after the New York Times moved its headquarters to the newly built Times Building, which is now called One Times Square and is the site of the annual ball drop on New Years Eve. Times Square, nicknamed "The Crossroads of the World" and "The Great White Way", has achieved the status of an iconic world landmark and is a symbol of New York City and the United States.
Before and after the American Revolution, the area belonged to John Morin Scott, a general of the New York militia where he served under George Washington. Scott's Manor House was at what is now 43rd Street, surrounded by countryside used for farming and breeding horses. In the first half of the 19th century it became one of the prized possessions of John Jacob Astor, who made a second fortune selling off lots to hotels and other real estate concerns as the city rapidly spread uptown.