The Rainbow Room opened as a supper club in 1934 after the repeal of Prohibition. Over the years, legendary performers including Louis Armstrong and Tony Bennett have entertained there. The city granted it landmark status in October 2012, saying its art deco-style decor "came to epitomize New York City."
The restaurant development company Blau + Associates will oversee the reopening process.
Gabellini Sheppard Architects will design the Rainbow Room's public spaces.
An executive chef will be announced in the coming months.