NEW YORK (1010 WINS) -- The Grand Hyatt New York at Grand Central Terminal, President Donald Trump's first major Manhattan development, may be torn down to make way for a new mixed-use project, The Wall Street Journal reported Thursday.
Developer and TF Cornerstone and investment firm MSD Partners have agreed to buy and tear down the 1,300-room hotel and said they plan to create a new 2 million-square-foot developmentm which will include offices, retail and a smaller Grand Hyatt.
It's a done deal yet, though: The project requires the approval of the city and the state.
In the late 1970s, then-real estate developer Trump rebuilt and remodeled the hotel, covering the original stone work with modernist glass and creating a restaurant with a curving glass wall that extends over the sidewalk. Trump exited the investment years ago.
