NEW YORK | 45 East 45th St (Roosevelt Hotel) | FT | FLOORS

[TKD]

Originally Posted by The New York Lion

1 Vanderbilt bought 500,000 SQ feet of air rights from Grand Central to make it as big as it is at 1.8 million square feet.

The plot for The Roosevelt is 43,000 square feet, and it has a FAR of 30.

43,000 X 30 = 1.3 million square feet.

To compare to a hotel/residential: Central Park Tower has around 1.3 million square feet, but it's only on a 20,000 sq foot lot.

Furthermore, SL Green's recent map depicting future developments has this as around a 900 foot Tower.

Originally Posted by The New York Lion

None of that refutes what I've said.

As per the NY Times:



https://www.nytimes.com/2018/03/02/nyregion/jp-morgan-chase-midtown-east-air-rights.html

One Vandy had the rezoning + the extra rights.

I am not sure why you have to be so rude to everybody. You don't understand eminent domain, either, as it pertains to the Penn Station project.

Just chill out.

To add onto NYguys post from before for more clarity, One Vanderbilt, base FAR of 15 and max FAR of 30 like all 5 blocks in the Vanderbilt corridor, got it's extra 15 FAR from transferring air rights from the landmarked Bowery Savings Bank across the street and from transit and public space improvements to Grand Central (not particularly air rights purchased from Grand Central itself) which spurred it to go through ULURP approvals to get to the 30 FAR. It didn't have the "extra" 500,000 sqft added to the 1.3 million sf, that is already factored into the 1.3 million sf and that's more so what NYguy is trying to explain, which does refute what you were saying.

The zoning lot that Central Park Tower is on is not 20,000sf, its about 40,000sf and has 1.2 million zsf.

[TKD]

Originally Posted by The New York Lion

Thank you for the insight and for functioning like a socially adept adult.

NYGuy still doesn't understand eminent domain, which is hilarious given how he lords over everyone on this site.

Outside of other threads and just speaking on this thread in particular as it regards NYguy's posts, I'm not necessarily calling anyone out but I do slightly see his frustration because it has been stated multiple times by various people that this building has the same zoning status as One Vanderbilt (regardless of the method of air right acquirement which is different from what "is" possible to build on the site), and that because of that any building developed here can be of sizeable comparison. I emphasize can be instead of saying would be because the base FAR is still 15, and FAR 30 is simply just a max that can be reached on the site with various methods of air right additions/acquirements.

One can always compare the site to other buildings around the city, but it makes the most sense to always initially compare it to One Vanderbilt simply for the fact that it is zoned exactly the same.

[QuestionMonkey]

Originally Posted by The New York Lion

Thank you for the insight and for functioning like a socially adept adult.

NYGuy still doesn't understand eminent domain, which is hilarious given how he lords over everyone on this site.

Guys I think we need to go out for drinks at Hyatt Grand Central

We all want big big buildings here!

[mrnyc]

Originally Posted by QuestionMonkey

Guys I think we need to go out for drinks at Hyatt Grand Central

We all want big big buildings here!

i’ll go, but i’ll ‘accidently’ drop a plate in there.

the symbolic first demo step.

[NYguy]

Originally Posted by TKD

Outside of other threads and just speaking on this thread in particular as it regards NYguy's posts, I'm not necessarily calling anyone out but I do slightly see his frustration because it has been stated multiple times by various people that this building has the same zoning status as One Vanderbilt (regardless of the method of air right acquirement which is different from what "is" possible to build on the site), and that because of that any building developed here can be of sizeable comparison. I emphasize can be instead of saying would be because the base FAR is still 15, and FAR 30 is simply just a max that can be reached on the site with various methods of air right additions/acquirements.

That shouldn’t have to be explained, that’s how the zoning works, and why it was put in place in the first place. Outside of the government already expressing that they want to build to the maximum allowable size, even if you didn’t know that, you just assume that they would. It’s the only reason anything is getting built in east midtown, same as the Hudson Yards. ALL involve transfer of development rights either via landmarks, transit or other public realm improvements, (or in the case of Hudson Yards, the railyards) to build to max size.

[NYguy]

Back to the Vanderbilt Corridor, ALL of the sites have the same, exact zoning.











How it totals out for 343 Madison….







And One Vanderbilt…






On the far right are the applicable FAR totals, 29.86 and 29.96

[TKD]

The main point of my previous post was to explain the zoning instances in the Vanderbilt Corridor because you cannot simply assume that everyone understands zoning or the happenings around it as you're implying.

Though I was more so trying to reinforce the concept that this is zoned the same as OV and that it should be used as a high precedent, not everyone understands how zoning works, just givings answers doesn't help people understand it or be able to come to the conclusion you're assuming everyone should come to. It does need to be explained to those lay people that do not understand zoning.

[NYguy]

Originally Posted by TKD

The main point of my previous post was to explain the zoning instances in the Vanderbilt Corridor because you cannot simply assume that everyone understands zoning or the happenings around it as you're implying.

Though I was more so trying to reinforce the concept that this is zoned the same as OV and that it should be used as a high precedent, not everyone understands how zoning works, just givings answers doesn't help people understand it or be able to come to the conclusion you're assuming everyone should come to. It does need to be explained to those lay people that do not understand zoning.

I understand. Well, the people who frequent this site understand very well how zoning works, especially if it’s not only been told to them, but they have witnessed one example after another - consistently. Some people just like to clown. If however, someone doesn’t understand it, it’s why I suggested it best they not post in that regard, especially after a correction.

But, the original point remains. This site has the same zoning as One Vanderbilt. As dies 335 Madison. As does 383 Madison, though JPMC isn’t going to take that building down.

https://www.nyc.gov/content/planning/pages/our-work/plans/manhattan/vanderbilt-corridor

[NYguy]

The cycle continues. After getting the 7 advisor bids reduced to only 2, they decided to restart that process instead of choosing from the remaining 2 options.



https://pave.com.pk/pakistan-invites-bid...for-pias-roosevelt-hotel-in-the-us-2026/

Pakistan Invites Bids to Appoint Financial Advisor for PIA’s Roosevelt Hotel in the US (2026)


By Asia Falak
January 17, 2026

Pakistan has taken an important step toward unlocking the value of one of its most iconic overseas assets. The Ministry of Privatization has officially invited technical and financial proposals from qualified firms to appoint a financial advisor for PIA’s Roosevelt Hotel in New York City.

The Roosevelt Hotel is a landmark property owned by Pakistan International Airlines (PIA). It is located in Midtown Manhattan, one of the most expensive and commercially active real-estate zones in the United States.

Due to its prime location, the hotel holds exceptional redevelopment potential.

Proposed Joint Venture for Mixed-Use Development

A mixed-use development typically includes a combination of:

-Luxury hotel space

-Residential apartments

-Commercial offices

-Retail and dining outlets

Such projects are common in Manhattan and generate long-term, stable revenue.

Why a Joint Venture Model Is Being Considered

The joint venture approach allows:

-Risk sharing with private investors

-Access to global real-estate expertise

-Better financial structuring

-Faster execution

The selected advisor will help the government in:

-Designing the joint venture structure

-Valuing the Roosevelt Hotel asset

-Identifying suitable investors or partners

-Structuring financial terms

-Ensuring compliance with laws and regulations

-Executing the transaction transparently

Submission Deadline: February 16, 2026

Submission Time: 3:30 pm (Pakistan Standard Time)

This has been a long process, but in the end, I think it may be proven to have been worth it. Maybe.

[NYguy]

[Busy Bee]

Roosevelt Hotel Postcard 50s/60s

[NYguy]

^ Olde New York



JANUARY 19, 2026

[NYguy]

[NYguy]

https://x.com/PrivComPakistan/status/2020800290883330225

[Zapatan]

Omg yes, please build Merdeka 118 in Midtown Manhattan.

[UrbanImpact]

Originally Posted by Zapatan

Omg yes, please build Merdeka 118 in Midtown Manhattan.

The base would have to follow the street wall though in Manhattan and then transition to a funky shape.

[NYguy]

Originally Posted by Zapatan

Omg yes, please build Merdeka 118 in Midtown Manhattan.

Originally Posted by UrbanImpact

The base would have to follow the street wall though in Manhattan and then transition to a funky shape.

Yeah, they have to first hire their financial advisor, who will then help them choose a development partner. From there, they will work out what the design will be, but its clear they would like something iconic, as they should.

[The New York Lion]

I would like a green glass tower that is at least 1,800 feet tall to the roof with a spire that sends it into the 2000s.

[NYguy]

https://therealdeal.com/new-york/2026/02/17/pakistan-seeks-new-broker-for-roosevelt-hotel/

Pakistan back to drawing board with $4B Roosevelt Hotel plan
Government seeks new brokers to find JV partner, rules out complete sale of prime dev site


By Rich Bockmann
Feb 17, 2026

The government’s privatization commission is once again trying to find a broker to help monetize the development site at 45 East 45th Street, just across from Grand Central Terminal — which could be redeveloped into a 1.8 million square foot office tower.

The commission put out a call for brokers and financial advisors who have “proven experience of successful completion of similar transactions in [the] New York metropolitan area (more specifically in Manhattan–NYC) or any other metropolitan city of [the] USA,” according to a request for proposals.

….. in January the privatization commission announced that it had hit reset on the hiring process after five of the seven proposals under consideration were rejected for non-compliance. (It’s not clear who the candidates were, but when JLL won the process in 2024, a consortium led by Savills came in second place.)

And this time around, the government has ruled out selling the property outright.

Pakistani prime minister Shehbaz Sharif’s adviser on privatisation, Muhammad Ali, said the government is intent on redeveloping the property as part of a JV, according to media reports.

Under the plan the government would contribute the land into the venture and a development partner would pony up about $1 billion in equity, with the JV taking on another $2 billion to $3 billion in debt. The Pakistani government intends to have an ownership stake of around 40 to 50 percent.

[ChiND]

These guys are morons. They could have asked Related, SL Green, BP, Extell, and Vornado to give their best offers for a JV within 60 days, and they could have chosen someone quickly. All of them, especially SLG wants this site.

Nonetheless, this is going to languish forever. I'm in no rush to see the Roosevelt razed since it's a beautiful building.