The Grand Hyatt NYC Will Be Torn Down
News came out today that The Grand Hyatt New York will be torn down. This was the building that launched Donald Trump’s career as a real estate developer in Manhattan. He spent $100 Million renovating the building in the late 1970’s, early 1980’s. The hotel has been considered a convention hotel for some time but some travelers, myself included, would stay there because of it’s proximity to Grand Central.
What Will Be Replacing It?
According to Bloomberg the building is now owned by TF Cornerstone. They plan to demolish the building and put a new mixed-use building in its place. The new tower will have 2 million square feet of space. It will include a new Hyatt hotel, office space, and retail space.
The current hotel, which was completely renovated in 1980, will remain in business until at least the end of 2020. Bloomberg also notes that a 2017 rezoning of the Midtown East area paved the way for taller buildings and improvements to public spaces and transit, including Grand Central.
While I thought the hotel was in decent shape when I was there a few years ago it has been around since the the early 1980’s. It is most likely starting to show its age and would have needed to be remodeled. Plus the bones were based off of the Commodore Hotel which was completed in 1919.
It sounds like the developers want to take advantage of new zoning and air rights rules and build a larger structure as well. It will be interesting to see what they Hyatt looks like when it is completed.