César Pelli & Associates designed the tower, with Vornado Realty Trust as fee developer and Thornton Tomasetti as structural engineer. Construction began in 2001, about three years after the vacant Alexander's department store was demolished, and the building opened in 2004. Alexander's real estate investment trust is the owner.
It is a glass skyscraper, with two towers rising above a steel office and retail base, separated by a seven-story atrium. The roof is about 806 feet (246 m), or 807 feet in the infobox, and the antenna spire reaches 938 feet (286 m). It has 55 floors and 1,345,489 square feet (125,000 m²).
Bloomberg L.P. leases 700,000 square feet of offices, later adding 200,000, and has its flagship television studios here. The residential section, One Beacon Court, has 105 condominiums and a separate entrance. A glass-walled courtyard connects 58th and 59th Streets.
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