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

[ChiND]

https://www.msn.com/en-us/money/companie...id=22e1123e4f4e49219ddf89a652c49140&ei=8

Pakistan eyes $1 billion valuation in Roosevelt Hotel redevelopment plan, source says
Story by Ariba Shahid

[NYguy]

Originally Posted by ChiND

Wanting the best for NY is not whining.

It is absolutely whining, and you do it in every thread. You haven't seen what's proposed here. Obviously, everyone wants a nice development. We don't complain about every other development we don't like in other threads. it's tiresome. You should learn to wait before expending so much negative energy. They say patience is a virtue. Invest in it.



https://www.thenews.com.pk/print/1327677...-firm-to-charge-rs2-1bn-for-its-services

Roosevelt Hotel valuation, investment: Financial adviser firm to charge Rs2.1bn for its services


By Khalid Mustafa
July 11, 2025

.....global real estate services company Jones Lang LaSalle (JLL) will charge $8 million (Rs2.1 billion) from the government for valuation and investment process of Roosevelt Hotel, a senior official told The News.

JLL, being the financial adviser, will also be paid a success fee -- 0.95 percent of the total value if the transaction of Roosevelt Hotel is successfully closed. However, out of Rs2.1 billion, it has been paid Rs1.84 billion. When Adviser to PM on Privatisation Muhammad Ali was asked to confirm if Rs1.84 billion was paid to the financial adviser, he did not respond.

Pakistan is seeking a valuation of at least $1 billion for the Roosevelt Hotel and is ready to part with a minority stake in the prime Manhattan property as it scouts for a redevelopment partner, another senior government official said.

JLL will run the process and the government is eyeing a valuation of over $1 billion for the 42,000 square feet property it hopes could be redeveloped for residential-cum-office use, the official said. “It is among the best pieces of land in NY real estate... The process begins immediately and is expected to be completed in the next six-nine months,” said the official.

Pakistan’s government is estimating the redevelopment will take 4-5 years, the official said, adding the “interest level is extremely high.” In June, the government said it expects $100 million in the initial payment from the joint-venture partnership by June 2026.

[ChiND]

Originally Posted by NYguy

It is absolutely whining, and you do it in every thread. You haven't seen what's proposed here. Obviously, everyone wants a nice development. We don't complain about every other development we don't like in other threads. it's tiresome. You should learn to wait before expending so much negative energy. They say patience is a virtue. Invest in it.

[Busy Bee]

At least it Gary Coleman and not a mildly racist dancing black holy roller like ChiND/New York Lion/JMKeynes/Robert Walpole usually posts...

Age of Ramses folks. Age of Ramses...

[ChiND]

Originally Posted by Busy Bee

At least it Gary Coleman and not a mildly racist dancing black holy roller like ChiND/New York Lion/JMKeynes/Robert Walpole usually posts...

Age of Ramses folks. Age of Ramses...

[Busy Bee]

You are consistent.

[ChiND]

Originally Posted by Busy Bee

You are consistent.

I try to engage with the common man and basic minds, and I have fun in the process.

[The New York Lion]

Originally Posted by Busy Bee

You are consistent.

I am not Robert. Good friend of mine, and we go back over a decade, though.

New York is the center of civilization in the greatest country to ever grace the Earth.

[Mulan]

Can someone please clear up this off-topic discussion? THANK YOU.

Hopefully the eventual top of this new skyscraper doesn't obscure the lighting of 270 Park Ave.

[The New York Lion]

Originally Posted by mulan

can someone please clear up this off-topic discussion? Thank you.

Hopefully the eventual top of this new skyscraper doesn't obscure the lighting of 270 park ave.

America is the greatest country. I'm sorry it makes you so angry.

[Mulan]

Every member has their own opinion.
Have you ever seen what is being planned and built in Dubai, Lion? There will be many more projects in New York that fall into the category of never-built skyscrapers.

[Zapatan]

Originally Posted by Mulan

Have you ever seen what is being planned and built in Dubai, Lion? There will be many more projects in New York that fall into the category of never-built skyscrapers.

This is unfortunately true, all I really ask for is that 350 Park Avenue gets built at its planned height. Not really so sure about everything else.

The US has a bad track record when it comes to proposed to built ratio, not saying other places are perfect, and some of those Dubai projects may fall through and go on hold too but I want to see NYC and the US actually start building so very many of the skyscrapers it actually proposes.

[Mulan]

Yes, Zapatan, I completely agree with you. Hopefully the current (the 5th in my opinion) skyscraper building boom won't end so soon. There are a lot of projects to be realized (2WTC, Hudson Yards, 57th Street Corridor,...) and more to come. As a historian, I am also very interested in the future of U.S. cities.

[SamLYNY]

Well...anyway...

It looks like they're betting big, which makes sense for the site. Grand Central corridor is the prime spot.

The mention of a focus on office space also tracks with recent trends, and current CRE forecasts for the city, so a joint venture approach is no surprise despite smaller initial revenue.

Super exciting to imagine what could rise here and join the Park Ave titans - both current and future. Who knows what might rise here...all we know is that it'll once again redefine and refine the skyline.

A few rough ideas by me, both tall and 'short':


Img source


Img source


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[NYguy]

https://www.investing.com/news/transcrip...-raises-guidance-stock-dips-93CH-4140532

Earnings call transcript: SL Green Realty Q2 2025


07/17/2025

Second question, can you talk about any progress you’ve made securing the development site you alluded to at the Investor Day, whether you still think that that’s a priority for the company this year and whether you’re seeing any increased competition for those potential development sites?

Mark Holliday, Chairman and Chief Executive Officer, SL Green Realty Corp:

Yeah, so I think the goal was development and or large scale redevelopment site. The good thing is we’re working on both. And it’s among the highest priorities of things we’re working on right now. It’s not, I would say one, I’d say we’re working on multiple opportunities. These deals take time, but we’re sticking to our guns and there’s still a lot of runway in the second hour.

It’s just July, what, sixteenth guys, something like that. You know, and we got some time and we’ve got opportunities well within our sites and we’re going to work hard in Q3 and ’4 to put them under contract.

[ChiND]

Originally Posted by NYguy

https://www.investing.com/news/transcrip...-raises-guidance-stock-dips-93CH-4140532

Earnings call transcript: SL Green Realty Q2 2025


07/17/2025

If SLG gets it, hopefully, it will shoot for the stars as it did with 1 Vanderbilt and avoid lower than mediocre endeavors like the Walmart lipstick on a pig at 245 Park.

[NYguy]

They'll start looking at proposals next month...


https://dialoguepakistan.com/en/business/pia-initiates-internal-audit-ahead-of-privatization

21 Jul 2025

Privatisation Commission Secretary Usman Bajwa briefed the National Assembly’s Standing Committee on Privatisation that the government is aiming to finalise the privatisation of PIA within the next two to three months.

He further said that the expressions of interest (EOIs) for the iconic Roosevelt Hotel in New York will be invited in August.

[ChiND]

Within a few months, we, hopefully, will have renderings for:

1. The Roosevelt;
2. 625 Madison;
3. 655 Madison;
4. 1 E 57th;
5. 10 W 57th;
6. 41 W 57th;
7. The Wellington; and
8. Extell’s ABC site.

[ChiND]

https://www.msn.com/en-us/money/realesta...d=655c20d3532c463e8329610873df4fa3&ei=11

Jones Lang LaSalle exits advisory role in sale of New York's Roosevelt Hotel
Story by Ariba Shahid


Reuters

"The heightened interest in Roosevelt Hotel from many of JLL’s own clients, post cancellation of its lease agreement with NYC, has put them in a compromising position,” Pakistan's Privatization Commission said in a statement, adding the firm resigned to avoid any “perceived or actual” conflict of interest.

JLL’s exit will not derail the stake sale and a new adviser will be hired "on a fast track basis", the Commission said.

Earlier this month, a senior official told Reuters that Pakistan is eyeing at least a $1 billion valuation and is ready to part with a minority stake in the property as it scouts for a redevelopment partner.

[NYguy]

Just as long as it gets done.