First Look at Grand Central Terminal's Grand Hyatt Hotel Replacement
TF Cornerstone and RXR Realty plan a new 83-story office and hotel tower and train hall attached to Grand Central Terminal.
commercialobserver.com
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Two million-square foot tower will replace current Grand Hyatt Hotel.
Midtown’s Grand Hyatt Hotel to be replaced by huge mixed-use tower
Excerpts:
Say goodbye to the Grand Hyatt Hotel building next to Grand Central Terminal: According to the Wall Street Journal, a development group comprising TF Cornerstone and MSD Partners (an investment group linked to Michael Dell), plans to demolish the current structure and replace it with a new, larger one.
The deal is the latest to come out of the Midtown East rezoning, which was approved with the goal of crating new, modern office space within a 78-block stretch of the neighborhood. The first major project, announced last year, is the skyscraper that will replace the former Union Carbide building at 270 Park Avenue.
According to a release from the development team, the new building that the developers have planned would span around 2 million square feet—that would make it larger than One Vanderbilt, which is rising on the other side of Grand Central—and would have office space, retail, and a smaller Grand Hyatt hotel.
Original WSJ article (behind paywall):
New York’s Grand Hyatt Hotel to Be Torn Down
