Part of the Shubert Organization, the Lyceum is Broadway's oldest continually operating legitimate theater. Built by producer-manager David Frohman in 1903, it was purchased in 1940 by a conglomerate of producers which included George S. Kaufman and Moss Hart. In 1950, the Shuberts took ownership of the theater, and have operated it ever since.

The Lyceum was designed in the Beaux Arts style by architects Herts and Tallant, sporting a gray limestone façade with six ornate Corinthian columns. The foyer hass two grand staircases leading to the mezzanine, and marble finished to approximate 'the marble of Athens.'