It comprises 76,000,000 square feet (7,100,000 m2) of commercial space in a 70-block area of Midtown Manhattan, New York City, around Grand Central Terminal.

Midtown Manhattan property owners and businesses created the Grand Central Partnership in the mid-1980s during a period of marked physical and economic deterioration.

[2][3] Once in place, GCP developed a comprehensive plan to specifically revitalize the neighborhood surrounding Grand Central Terminal, which included an ambitious capital improvement program, a privately managed sanitation, maintenance and public safety operation, business assistance initiatives, a broad tourism and visitor services program, and a social services component.

The Grand Central Partnership is a not-for-profit corporation funded principally through special assessments collected from commercial property owners located within its defined geographic area.

The GCP's PSOs are also often wearing a black champagne hat and carry a radio connected to NYPD channels to report emergencies to authorities.