The Grand Hyatt Hotel in Midtown Manhattan, once owned and reclad by President Trump, is headed for the wrecking ball. A new joint development by TF Cornerstone, RXR Realty, and MDS Capital has been announced in its place and will feature 2 million square feet of office and retail space, as well as a brand new identity for the Grand Hyatt.
Located at 109 East 42nd Street, just southeast of Grand Central Station, the 26-floor structure wasn’t always a Trump hotel. In fact, it’s 100 years old. Built in 1919 by the Bowman-Biltmore Hotels group, the Commodore Hotel was originally a brick-clad building with over 2,000 rooms and a world-renowned lobby. In the late ’70s, the Trump Organization purchased and remodeled the entire structure for $100 million, redoing the facade with its now-signature all-reflective-glass curtain wall. It then reopened in 1980 as the Grand Hyatt New York. AN’s editor in chief Bill Menking wrote that the story behind the hotel revamp and the addition of the sign-slash-restaurant that hovers above the sidewalk on 42nd Street is a prime illustrative tale of negative development in New York.
We’re in grand company on the corner of 42nd and Lexington ✨The Grand in our name stems from our unique connection to @grandcentralnyc, but our Midtown address also places us within easy walking distance to some of New York’s most iconic monuments, l… https://t.co/G3i256Nrqx pic.twitter.com/BCemQIB2KN
— Grand Hyatt New York (@GrandHyattNYC) August 20, 2018
Construction on the new building is expected to cost $3 billion. It will include 500 rooms for the luxury Grand Hyatt New York and state-of-the-art office space. Major transit upgrades could also come with the development, enhancing the pedestrian experience near Grand Central and offering better circulation and connectivity to the currently congested subway beneath it. A new entrance has also been discussed.
No architect has been chosen for the design project yet, though the development team aims to announce one soon. When complete, the new structure will join a handful of other commercial office towers in the area that have popped up since the 2017 rezoning in Midtown East. Progress on One Vanderbilt by Kohn Pedersen Fox, Tower Fifth by Gensler and Adamson Associate Architects, and JP Morgan Chase’s 270 Park Avenue by Foster + Partners is already underway.