The planned redevelopment of the Grand Hyatt Hotel next to Grand Central Terminal could result in a supertall tower rising more than 1,600 feet above Midtown.
The development at 109 East 42nd Street is tentatively dubbed Project Commodore, New York YIMBY reports, citing an Environmental Assessment Statement for the project. If it rises to the proposed height of 1,646 feet, it would become the tallest building by roof height in the city. (Extell Development’s Central Park Tower at 217 West 57th Street currently holds the record at 1,550 feet.)
RXR Realty and TF Cornerstone are teaming up for the project, which will ride on the current site of the Grand Hyatt New York. The 3-million-square-foot development is one of the major projects of the Midtown East rezoning initiative.
Designed by Skidmore, Owings & Merrill, the proposed building would include 2.1 million square feet of office space, a new 500-room hotel, about 10,000 square feet of open-air publicly accessible space, and 43,370 square feet of retail, including some controlled by the Metropolitan Transportation Authority.
The next step for the project is a public scoping meeting to be held on Dec. 21. If the project moves forward, it would not be completed until approximately 2030. Construction on the new building could cost between $2.5 billion and $3 billion.
[NY YIMBY] — Akiko Matsuda