https://therealdeal.com/2019/02/12/r...redevelopment/
RXR joining TF Cornerstone, MSD Capital on $3B Grand Hyatt redevelopment
Company CEO Scott Rechler will step down from MTA board to avoid potential conflicts
February 12, 2019
Quote:
RXR Realty will join TF Cornerstone and Michael Dell’s investment firm on the $3 billion redevelopment of Grand Central’s Grand Hyatt hotel.
Scott Rechler, RXR’s CEO, will step down from his role as a board member at the Metropolitan Transportation Authority in order to avoid a potential conflict of interest, Crain’s reported.
...TF Cornerstone and Dell’s MSD Capital plan to redevelop the hotel at the corner of East 42nd Street and Lexington Avenue into a hotel and office building clocking it at more than 2 million square feet.
|
I don't know if that 2 msf is zoning area or gross square feet, but either way, it will be more than One Vanderbilt. Because it will include the new Grand Hyatt though, it would probably have about the same amount or even less office space than Vanderbilt.