42nd Street looking west. Copyright Miysis SPRL / Courtesy of Skidmore, Owings & Merrill
In another small way, the city is saying goodbye to Donald Trump. Renderings have been released for a massive tower replacing Midtown’s Grand Hyatt Hotel, Trump’s first major Manhattan development. The proposed mixed-use project at 175 Park Avenue would rise up to 83 stories and 1,646 feet tall, which would make it the second-tallest building in New York City, behind 1,776-foot One World Trade Center. The design, which is made possible thanks to the Midtown East Rezoning, comes from Skidmore, Owings & Merrill and also includes hundreds of millions of dollars of infrastructure upgrades to Grand Central Terminal and the subway station, as well as three elevated public outdoor spaces that wrap around the building.
All the details here
Image: Jennifer Rotner via Flickr.
Developer TF Cornerstone and investment firm MSD Partners have announced plans to purchase and tear down the Grand Hyatt building adjacent to Grand Central Terminal, the Wall Street Journal reports. The hotel brand will eventually return to the site in a form different from the smoked glass-clad building that was Donald Trump’s first major Manhattan development. In its place will rise a mixed-use project that includes 2 million square feet of high-octane office space. The planned development is one of four new towers in the works as a result of a 2017 Midtown East rezoning aimed at encouraging new office buildings as well as infrastructure improvements in the east side business district.
The times they are a-changin’ in East Midtown
, Mon, September 19, 2016
If you’ve followed Republican presidential nominee Donald J. Trump‘s gold-plated real estate career, you might already know how much of his success has been due to his family’s extensive political connections–and generous tax breaks, grants and incentives from the government and taxpayers. In case you haven’t read Trump’s 1987 bestseller “The Art of the Deal,” the New York Times illuminates the role that hundreds of millions in tax breaks have played in the Trump empire. While Trump may not be much different from other developers in seeking tax breaks, the candidate vociferously paints a picture of a rigged system and a fixed game. But these very fixes have enabled him to achieve a net worth estimated at 4.5 billion and the opportunity to indulge a run for the nation’s highest office.
So what’s been going on here?