The Nederlander Theatre (formerly the National Theatre, the Billy Rose Theatre, and the Trafalgar Theatre) is a Broadway theater at 208 West 41st Street in the Theater District of Midtown Manhattan in New York City. Opened in 1921, it was designed by William Neil Smith for theatrical operator Walter C. Jordan. It has around 1,235 seats across two levels and is operated by the Nederlander Organization. Since 1980, it has been named for American theater impresario David Tobias Nederlander, father of theatrical producer James M. Nederlander. It is the southernmost Broadway theater in the Theater District.
The facade is relatively plain and is made of brick, with a fire escape at the center of the second and third floors. The auditorium was originally designed in the early Renaissance style, which has since been modified several times. Unlike other theaters operated by the Shubert family, the interior contained little plaster decoration. The venue has hosted a variety of shows, including the plays Cyrano de Bergerac, Inherit the Wind, and Who's Afraid of Virginia Woolf?; live performances, including those by Lena Horne; and the musical Rent, which is the theater's longest-running production as of 2022.
The modern-day Nederlander Theatre was developed as a carpenter's shop in 1920 before being converted into the National Theatre the following year. When the National opened on September 1, 1921, the Shubert family managed bookings on Jordan's behalf. The Shubert brothers bought the National in 1927 and operated it for three decades. In 1956, as part of a settlement in an antitrust lawsuit, the Shuberts sold the venue to Harry Fromkes, who died shortly thereafter. The National was acquired in 1958 by theatrical producer Billy Rose, who renovated the venue and renamed it after himself the next year. The Nederlander Organization and the Cooney-Marsh Organization acquired the theater in 1978, first renaming it the Trafalgar Theatre; the theater assumed its current name in 1980. Because there were few other Broadway theaters nearby, the Nederlander housed few productions in the late 20th century, becoming popular only after Rent opened.