The Majestic Theatre was built in 1903 and designed by architect John H. Duncan, who designed Grant's Tomb. The Majestic Theatre was built on Columbus Circle, which was expected to become another theatre district. The Wizard Of Oz musical had moved from Chicago, where it first premiered to rave reviews, to New York City and beyond as it went on tour. For 293 performances the musical captivated audiences. With the success of The Wizard Of Oz, Baum wrote a sequel to his first Oz book, naming it The Marvelous Land Of Oz. He dedicated it to Fred Stone (the Scarecrow) and David C. Montgomery (the Tin Woodman).

Throughout history the Majestic Theatre has changed names and it was eventually demolished in 1954 for wider sidewalks. Today the Deutsche Bank Center stands in its place.