In the late 19th century—before media companies concentrated in Midtown and the Chelsea/Flatiron area—the short stretch of Park Row next to City Hall was New York’s media neighborhood, dubbed Newspaper Row.
Newspaper Row was home to major dailies such as the domed New York World, the New York Tribune, and the Sun (the little building between the World and the Tribune). The New York Times‘ headquarters stood on the other side of the Tribune.
Why Park Row? To be near the action at City Hall and close to NYPD Headquarters and the courts.