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RXR, TF Cornerstone Unveil Plans for Supertall in East Midtown
RXR Realty and TF Cornerstone unveiled plans to demolish the Grand Hyatt Hotel adjacent to Grand Central Terminal and build an 83-story mixed-use tower in its place. To be known as 175 Park Ave., the tower will incorporate 2.1 million square feet of office, a 453,000-square-foot Hyatt Hotel and 10,000 square feet of retail.
“Next to Grand Central Terminal lies one of the most complex and underutilized sites in New York City,” according to a fact sheet. “The obstacles presented by the Grand Hyatt –Donald Trump’s first major development in Manhattan … can’t be fully addressed without demolishing the existing building.”
In keeping with the East Midtown Rezoning that makes a supertall tower feasible in the neighborhood, the new project will “embrace its connection to the civic realm, creating significant new, public open space in bustling Midtown while providing extensive improvements to the surrounding transportation infrastructure,” say the developers.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
