Famed producer and director David Belasco built this theater in 1907and named it The Belasco Stuyvesant. In 1910 he changed it to just Belasco and proceeded to produce, direct and even write many of the venue's shows. Belasco lived above the theater in a gothic-style duplex.
The Shuberts purchased the theater in 1948 and leased it to NBC for three years but has since used it as a legitimate theater.