Herbert J. Krapp, architect. Built by Arthur Hammerstein, realizing his dream to name a theatre for his father, Oscar Hammerstein. But fewer than four years after its opening, struggling financially in the Depression, he had to forfeit the theatre. In the 1930s, it became a popular nightclub. In fall of 1936, CBS signed a long term lease and converted the space into a radio, then television studio. In 1993, CBS purchased the space and it became the home for "The Late Show with David Letterman."