Designed in 1973 by the architecture firm of Kahn and Jacobs, the theater is named after Sam Minskoff and Sons, builders and owners of the building.

The Minskoffs wanted to build a high-rise on the site of the old Astor Hotel, which was one of the great Times Square landmarks that had been torn down in the mid-1960s. Although they’d planned to build just an office tower, the Minskoffs were encouraged to include a theater on the site by Mayor John Lindsay, who felt that theater and the theater district were significant aspects of New York’s identity. A scheme was developed to build the theater at the base of the building, which allowed the developer to build a taller building. The construction posed a challenge: to create an auditorium with no columns and a tall fly space supporting a huge skyscraper, immense steel girders and beams had to be constructed to support the weight of the building above. The theater opened on March 13, 1973 with a revival of Irene with Debbie Reynolds.