( Mashable ) The Knickerbocker in New York City opens its doors to guests on Thursday , more than a century since John Jacob Astor IV built the hotel . Designed in the Beaux-Arts style , `` the Knick '' first opened on October 23 , 1906 , and the building has collected many anecdotes -- like being the ( rumored ) birthplace of the original martini -- in the years since . At its opening in 1906 , the hotel was marketed as having `` prices within the reach of all . '' `` While the Knickerbocker has not exactly furnished itself with a motto , the manager and his assistants will tell you that they are running ' a Fifth Avenue Hotel at Broadway prices , ' '' the New York Times wrote of the opening . `` Between the hours of 1 and 6 o'clock the fifteen-story structure on the southeast corner of Forty-second Street and Broadway was thronged with visitors , '' the Times wrote . `` The lobby , on the Forty-second Street side , was much admired by the host of visitors , and all paused to take a look at the representation of Father Knickerbocker in the entrance hall . '' Rates in 1906 averaged $ 3.25 a day ( or about $ 78 in today 's dollars after adjusting for inflation ) , according to the Times . Unfortunately travelers are unlikely to come by a room at that price in 2015 : Room rates on the Knickerbocker 's website start at $ 446 . When John Jacob died on the Titanic in 1912 , his son Vincent took over , eventually closing the hotel in 1921 . As for why he closed it , speculators have blamed either prohibition , or a lack of interest in ( or ability to afford ) elaborate accommodations . Mashable : Watch an implosion reduce this Las Vegas hotel to rubble ... almost . In the years afterward , the building changed ownership several times . It was converted to offices and housed Newsweek magazine from 1940 to 1959 . The Knickerbocker was placed on the National Register of Historic Places in 1980 , and designated a New York City landmark in 1988 . Landmark status brings with it certain protections for the exterior of the structure , which made the restoration complicated , according to the Knickerbocker 's managing director Jeff David . Exterior details — like the copper lion heads around the rooftop terrace — were meticulously preserved while the interior was completely redone . `` We 're embracing the hotel 's original DNA , while simultaneously offering guests intuitive service and relevant luxury , '' David said in a statement . `` The Knickerbocker 's history is something that most luxury hotels can not offer . '' Texas-based FelCor Lodging Trust , which purchased and funded the $ 240-million redevelopment of the Knickerbocker , owns more than 70 hotels in the U.S. , according to the Wall Street Journal . The company originally planned to open the hotel in late 2013 , later revising the date to 2015 . Times Square has changed nearly beyond recognition since the hotel first opened . Whereas the 16-story structure used to stand out , it is now surrounded by high rises and is one of the few Beaux-Arts buildings left . Mashable : Norway musicians play instruments made of ice . The original Knick welcomed `` glitterati and dignitaries , '' according to the hotel , and famous guests included F. Scott Fitzerald , who set a chapter of `` This Side of Paradise '' in the hotel bar ; Italian operatic tenor Enrico Caruso , whose wife gave birth in one of the rooms ; and John D. Rockefeller , who ordered those original martinis with his Wall Street friends . There were 556 sleeping rooms and 400 baths in the original hotel , accommodating about 1,000 guests . The newly-opened hotel will have 330 guestrooms , including 31 suites . For history buffs , there is one part of the Knickerbocker that unfortunately will not be re-opening : The sub-level ballroom , with a direct entrance from the subway platform . Mashable : What a night in New York City looks like from 7,500 feet . When the hotel was built , the nascent subway was so exciting to John Jacob Astor IV he had a door — still visible today — installed to provide direct access to one of the early lines . The area behind the door -- a corridor leading to the upper levels of the hotel -- is owned by the MTA , which apparently is n't interested in how much 21st century New Yorkers would be interested in a restored subway entrance . The lower-level parlor was elaborately decorated in the hotel 's early years , but now sits in disrepair . David expects the history of the hotel -- with or without a refurbished subway parlor -- to attract guests . `` By drawing inspiration from our past to create a lifestyle experience that is beyond typical luxury hotel amenities , The Knickerbocker will undoubtedly appeal to both local New Yorkers and international travelers , '' he said . © 2015 MASHABLE.com . All rights reserved .
The Knickerbocker opened in 1906 . The Times Square hotel closed in 1921 , and the building was used for offices . It is now a museum of New York City history