The first luxury hotel in Times Square, The Knickerbocker is located in the heart of the Theater District and boasts a rich history. Built in 1906, the hotel has been frequented by actresses, sports figures and oil tycoons. It's been rumored the martini was invented there, and Babe Ruth was traded in the lobby. But the real draw is the hotel's St. Cloud Rooftop, which offers craft beer, unique cocktails and the closest view of the Times Square New Year's Eve Ball.