New York City (TAN): New York City’s Grand Hyatt Hotel building could be torn down to be replaced with a new structure, media reports said.
Developer TF Cornerstone and MSD Partners, responsible for managing the assets of Dell Technologies founder Michael Dell and his family, would construct office and retail space, along with a new luxury version of the Grand Hyatt, in collaboration with an affiliate of Hyatt Hotels Corporation.
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The Midtown hotel marked U.S. President Donald Trump’s first major Manhattan development.
He had partnered with Hyatt Corporation to buy the hotel in 1976, until Hyatt bought Trump’s share in the hotel a couple of decades later.
Located east of the Grand Central train station on 42nd Street, the hotel presently boasts of 1,298 rooms, and a bar built over the footpath on East 42nd Street. The hotel, formerly known as The Commodore, had first opened its doors in 1919.
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With a total area of 2 million square feet, the new building could be a step ahead of some of its neighbours in terms of size – a 1,401-foot skyscraper, One Vanderbilt is going up next to Grand Central.
