Posted Apr 8, 2026, 12:54 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,612
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https://www.linkedin.com/posts/christoph...estate-activity-7447270323915395072-D5tr
Quote:
Best known as the Grand Hyatt in Grand Central, the developers of 175 Park Avenue filed plans and gives real estate insiders a look into their master plan.
With office rents hitting $300/RSF + and hotel stays charging guests $1,200/night plus for trophy assets, the table has been set for the RXR / TF Cornerstone / MSD team.
Project Cost: $6.5B
Size: 2.25M SF
Project Cost / SF: $3,000/SF
Office Component: 2.1M SF
Office rents: $350/SF Blended
Hotel Component: 150K
Hotel Gross Room Count @ 700SF: 214 Large Rooms
Hotel ADR: $1,300/Night
RevPAR at 90%: $1,170/Night
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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