Manhattan Opera House, ca. 1907.

Opera fanatic and theater mogul Oscar Hammerstein I opened his second Manhattan Opera House as an answer to his dissatisfaction with the Metropolitan Opera. (His first 1893-built Manhattan Opera House was also on 34th Street and was an unmitigated financial disaster.)

His second Manhattan Opera House was meant to be an opera "for opera-philes like himself." This would be unlike the Met Opera, where patrons treated the shows as a social affair. This was Hammerstein's eighth theater and proved majorly successful. It offered productions of the classics: Aida, Carmen, La Traviata, Otello, Tosca, Rigoletto, among others. The Met Opera had found a worthy rival - the competition of the Hammerstein's opera house had inflated the costs of producing opera and re-saturated the public's interests in the medium.

Eventually, the Met won out, and Hammerstein went bankrupt. He could not compete with the high price of bringing in the biggest opera stars that the Met could. Oscar Hammerstein's son, Arthur, negotiated a contract with the Met that awarded his father $1.2 million if he refrained from producing grand opera in the United States for the next 10 years.

Otto Kahn, president of the Metropolitan Opera, gained possession of the theater in 1911. The space was leased from 1911 to 1917 to The Shuberts. From 1927 to 1940 the space was a Warner Brother's sound stage, and then a meeting hall.