Across from Grand Central Terminal, the legendary Biltmore Hotel once served as a grand place for the Jazz Age-elite to rest their heads. Now, the structure is being reimagined as a major Midtown technology hub. After opening in 1913, the Biltmore eventually closed in 1981. The building was gutted, and eventually came to house the Roosevelt Hotel. Currently, landlord Milstein Properties and Grand Central Tech are joining forces to serve up yet another facelift in this testament to history and architecture.
Milstein Properties has owned the building since the Biltmore’s closure. Grand Central Tech, whose headquarters are actually situated within office space in the property, has served as an incubator for multi-million-dollar startups like Common, Maven and Exec Thread. According to reports from Bloomberg, more than $100 million is being invested in the project to transform the old hotel into a high-tech incubator.Read Complete Article