Designed in 1903 by John H. Duncan, the architect of Grant's Tomb, it was built at a time that Columbus Circle was expected to become a theatre district.

Initially named the Majestic Theatre, the venue seated about 1,355 and hosted original musicals and operettas, including The Wizard of Oz and Babes in Toyland, and some plays.

[1] It was renamed Park Theatre in 1911, opening with The Quaker Girl, and it again presented plays, musicals, and operettas.

[2] In early 1913 it showed the world's first full-length color drama feature film, The Miracle.

The theater was demolished in 1954 to allow for wider sidewalks in front of the New York Coliseum,[2] which in turn was torn down to make way for the Time Warner Center in 2000.