The opulent Waldorf-Astoria hotel stood here, where the Empire State Building is now, from 1897 until 1929. the hotel was actually two separate buildings, joined by a 300-foot long hallway called Peacock Alley, where tourists and local New Yorkers used to gather to gaze at the tycoons, theatrical stars and dignitaries walking by.

New York City and its share of hotels prior to the Waldorf-Astoria's opening, but this was the first to bring Gilded Age social life out into the wide open. It not only provided large and lavish spaces for the wealthy to entertain but also the opportunity for the rest of New York to observe and covet their lifestyle.

The hotel grew out of a rivalry among the Astors- one of New York's oldest and wealthiest families thanks to John Jacob Astor's early and large investments in Manhattan real estate. The site had been occupied by two brownstones. One belonged to William Waldorf Astor, and the other to his aunt, Caroline Schermerhorn Astor- the gatekeeper of New York Society. William tore down his family's house to make way for the 11-story Waldorf. Not only did the new property quickly tower over his aunt's, but the construction din and debris forced her and her son John Jacob "Jack" Astor IV to move.

As retribution, Jack first considered building a stable next to the Waldorf. But after it opened in 1893, the hotel was so profitable that Jack decided to hitch himself to his cousin's venture. At a cost of $3 million, he put up the Astoria, which of course had to be several stories taller than its neighbor. Connected by Peacock Alley, and a hyphen in its new name, the Waldorf-Astoria became the largest hotel in the world.

The architect was Henry Janeway Hardenbargh, who had designed the Dakota Apartments in 1882 and would design the Plaza a decade later. The style was German Renaissance-dominated by red-tiled gables and turrets.