The theatre was located at Sixth Avenue between 43rd and 44th Street and featured 5,300 seats, a stage large enough to hold 1,000 performers at once, and an 8,000 gallon glass water tank that could rise from below the stage. The original building was closed and demolished in 1939 and was a vacant lot until 1952 when a new 19-story building was built on the site and named the Hippodrome Building in honor of the original theater.