It is owned by real estate companies SL Green Realty and Ivanhoé Cambridge.

Since its opening, the office portion of the tower has been leased by Random House, a global publishing company.

Since 2016, it also has served as the global headquarters for Penguin Random House, its parent company, which was the inspiration for the building's name.

Ismael Leyva Architects and Adam D. Tihany designed the residential portion, which has a concrete frame.

Looking for an alternative, the company spoke with various developers, who were already planning apartment buildings, and in 1999 decided for the project of Stephen M. Ross at Broadway and 55th Street, which was already under construction.

[3] Critics have noted that its three main towers give it the impression of being three books (although the architects referred to them as "three sliding crystals").