Designed by architect Herbert J. Krapp, it was built for the Shuberts as part of a theatre-hotel complex named for 19th- century tragedian Edwin Forrest.
The Forrest Theatre opened on November 24, 1925, with the musical Mayflowers as its premiere production. The venue was renamed the Coronet Theatre in 1945
with renovations by architects Walker & Gillette. In 1959 it was rechristened the O'Neill in honor of the American playwright by then-owner Lester Osterman.
It later was purchased by playwright Neil Simon, who sold it to Jujamcyn Theaters in 1982. Jujamcyn is one of the three leading Broadway theatre companies,
and since 2009, Jujamcyn Theaters has been owned and operated by Jordan Roth.