Have you ever looked down on Manhattan from a rooftop hotel bar 54 stories above ground? Well, thanks to a new Hyatt opening this fall, you and your friends will be able to do just that.

The ShermansTravel team recently got an exclusive first look at a brand new 487-room property that's scheduled to open right in the heart of Times Square, on 45th Street between Sixth and Seventh Avenues. The tall, slender building will have the highest rooftop hotel bar in the city (and with all the pre-existing hotel rooftops, that's saying a lot), and rooms will be apportioned at 11 per floor, which maximizes the limited square footage available. As they say, build up!

While getting a tour of the whole property, we got to peek inside the still-under-construction lobby, see a model guest room, and, of course, ride the elevator up to the swanky rooftop bar. Though the space is still pretty raw, we were able to appreciate the near-360-degree views of the entire city (stepping out onto the glass-enclosed terrace was a thrilling, if slightly vertigo-inducing, perk!), and get a sense of the finished product, which will eventually boast a full bar, indoor and outdoor spaces, and two fireplaces at either end.

Meanwhile, inside the rooms, the decor is minimal, with light-toned fabrics and dark woods, plus a nifty series of New York-themed photo collages, and sleek leather ergonomic desk chairs.Best of all, every room will have floor-to-ceiling windows, so be sure to ask for a high-up floor when you check in!

For now, the hotel is still finishing up construction, but when it opens officially in December, you're definitely going to want to peek inside – guest or not. The small, modern-feeling lobby will have several art features, including a rainbow light installation by the elevators; the diner-themed restaurant, T45, will be located on the ground floor, next to a 24-hour Grab & Go kiosk; and perhaps best of all, there will be a new luxury full-service spa offering wellness and salon treatments for anyone who happens to be in the neighborhood (guest or otherwise).

However you look at it, the new Hyatt Times Square will be a welcome addition to the neighborhood, and it couldn't come at a better time: with Mayor Bloomberg's current goal of hitting 55 million annual visitors to NYC by 2015, this part of the city is going to need all the hotels it can get. Rates will start at $359/night.