Jay-Z is planning to hold a "surprise concert" on the marquee of the Ed Sullivan Theater in Times Square next month, according to the New York Post. The performance, which sources say "will turn rush-hour Times Square into a gigantic street party," will be aired on 'Late Show with David Letterman' on July 8. Despite being forced to move a similar show with Eminem to the rooftop of the famous theater in 2010, Hov is reportedly close to obtaining permission from the Mayor's office this time around -- but not without logistical concerns.

"If he gets permission from the mayor’s office, it’s going to be off the hook,” a law-enforcement source said. “They’ll have to shut down Broadway around the Letterman building. They’ll have to have a strong police presence. It’s going to be chaos with so many fans.”

With Jay's new album, Magna Carta Holy Grail, arriving July 4 (or three days earlier to the first 1 million Samsung users to download the Magna Carta app), it's likely we can expect this to be his first performance of the new material.