The Palace Theatre was designed by Kirchoff and Rose, and funded by vaudeville entrepreneur Martin Beck. The Palace Theatre officially opened on March 24, 1913 and became a prime destination for vaudeville acts.
During the Great Depression, the venue became the RKO Palace and primarily hosted radio recordings and functioned as a cinema.
In 1965, the Nederlander Organization purchased the property from RKO and restored its use as a traditional theatre, reopening the venue on January 29, 1966 with the premiere of the musical Sweet Charity.
Since 2018, the Palace Theatre has been shut down; the building was lifted 30 feet off the ground to make way for new developments below. The renovation is scheduled for completion in 2023.
The closest subway stop to the Palace Theatre is 49th Street on the N, R, and W lines. The closest bus stop is 7th Ave/W. 44th St. on the M104 line.