<P> Demolition of the Waldorf--Astoria began in October 1929, and the foundation of the Empire State Building was excavated before demolition was even complete . Construction on the building itself started on March 17, 1930, with an average construction rate of one floor per day . A well - coordinated schedule meant that the 86 stories were topped out on September 19, six months after construction started, and the mast was completed by November 21 . From that point, interior work proceeded at a quick pace, and it was opened on May 1, 1931, thirteen and a half months after the first steel beam was erected . Despite the publicity surrounding the building's construction, its owners failed to make a profit until the early 1950s . However, it has been a popular tourist attraction since opening, with around 4 million visitors to the building's 86th and 102nd floor observatories every year . </P> <P> The Empire State Building stood as the world's tallest building for nearly 40 years until the completion of the World Trade Center's North Tower in Lower Manhattan in late 1970 . Following the September 11 attacks in 2001, it was again the tallest building in New York until the new One World Trade Center was completed in April 2012 . </P> <P> The Empire State Building is an American cultural icon and has been featured in more than 250 TV shows and movies since the film King Kong was released in 1933 . A symbol of New York City, the tower has been named as one of the Seven Wonders of the Modern World by the American Society of Civil Engineers . The Empire State Building and its ground - floor interior have been designated as a city landmark by the New York City Landmarks Preservation Commission, and were confirmed as such by the New York City Board of Estimate . It was also designated a National Historic Landmark in 1986, and was ranked number one on the American Institute of Architects' List of America's Favorite Architecture in 2007 . </P> <P> The Empire State Building is located on the west side of 350 Fifth Avenue in Manhattan, between 33rd and 34th Streets . Although physically located in South Midtown, a mixed residential and commercial area, the building is so large that it was assigned its own ZIP code, 10118; it is one of 43 buildings in New York City that has its own zip code . The area to the south and west features other major Manhattan landmarks as well, including Macy's at Herald Square on Sixth Avenue and 34th Street, Koreatown on 32nd Street between Fifth and Sixth Avenues, Penn Station and Madison Square Garden on Seventh Avenue between 32nd and 34th Streets, and the Flower District on 28th Street between Sixth and Seventh Avenues . The nearest New York City Subway stations are 34th Street--Herald Square at Sixth Avenue and Broadway, one block west, and 33rd Street at Park Avenue, two blocks east . There is also a PATH station at 33rd Street and Sixth Avenue . </P>

What is the empire state building a symbol of