Jay-Z doesn't do anything on a small scale, whether it's recruiting the biggest names in the MLB and NBA for his Roc Nation Sports agency before they hit the lucrative free agent market or giving away his new album, 'Magna Carta Holy Grail,' via a million smartphones. So it should shock no one that Hova is planning a performance atop the Ed Sullivan Theater marquee in Times Square next month.

While it'd be a traffic nightmare for cops, motorists, cabbies and pedestrians, it'll be entertaining for Jay-Z's fans, to say the least. That is, if he pulls it off.

The New York Post reports that the rapper wants to turn the area into a giant street party and he is currently working on securing the proper approvals to perform atop the sign for the July 8 episode of 'The Late Show with David Letterman.'

Mr. Knowles -- we kid, we kid, although Beyonce calls herself Mrs. Carter, so it seems only fair to refer to him similarly -- wanted to do the same thing in the summer of 2010, but city officials nixed the idea due to safety and crowd control concerns.

A law enforcement source said, "If he gets permission from the mayor’s office, it’s going to be off the hook. 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."

The 'Holy Grail' rhymer could get the OK though, with a source saying, "It is close. There are a lot of logistical concerns." While shutting down a chunk of the heavily foot-trafficked and well-traveled area of Times Square would be miserable for commuters, the insider said, "This would be a great event for New York City."

An empire state of mind, indeed.

Perhaps Jay can put in a call to President Obama if he gets push back from Mayor Bloomberg.