F. Ray Comstock was an American theatrical producer and theater operator. He pioneered the intimate musical comedy, staging several successful comedies at his Princess Theatre in Manhattan. He also produced spectacular musicals, variety shows and serious plays by authors such as Henrik Ibsen and Maxim Gorky.

The Princess Theatre was a joint venture between the Shubert Brothers, producer Ray Comstock, theatrical agent Elisabeth Marbury and actor-director Holbrook Blinn. Built on a narrow slice of land located at 104–106 West 39th Street, just off Sixth Avenue in New York City, and seating just 299 people, it was one of the smallest Broadway theatres when it opened in early 1913. The architect was William A. Swasey, who designed the Winter Garden Theatre two years earlier.