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

[ChiND]

Originally Posted by NYguy

Just as long as it gets done.

I concur.

[NYguy]

https://www.arabnews.com/node/2609321/pakistan

Global real estate giant quits advisory role in Pakistan’s Roosevelt Hotel privatization


ARAB NEWS PAKISTAN
24 July 2025

Pakistan plans to sell a minority stake in the century-old Manhattan hotel and is seeking a redevelopment partner as part of a broader effort to offload loss-making state-owned assets under a $7 billion agreement with the International Monetary Fund (IMF). The

The statement said Pakistan’s Privatization Commission is initiating the process to hire a new financial adviser on a fast-track basis to ensure that the process for Roosevelt Hotel’s privatization is carried forward in a “transparent and competitive manner.”

“The Government of Pakistan and the Privatization Commission remain fully committed to conclude the ongoing privatization of Roosevelt Hotel expeditiously, in accordance with all applicable legal requirements,” the statement concluded.

The Roosevelt Hotel has long been one of Pakistan’s most prominent but politically sensitive overseas assets. Acquired by the Pakistan International Airlines Investment Limited (PIAIL) in 1979, the hotel occupies a full city block on Madison Avenue and 45th Street.

Over the past two decades, successive Pakistani governments have floated plans to sell, lease, or redevelop the property, but no proposal has advanced beyond early-stage planning.

[NYguy]

RFP for new Financial Advisor to help bring in a development partner…

https://privatisation.gov.pk/SliderDetail/Zjc5ZWE1ODMtMTkxZi00Mzg4LThmMjEtZjMyZDExNzE5ZDhi

[NYguy]

https://www.arabnews.com/node/2611080/pakistan

Pakistan says will finalize Roosevelt Hotel’s privatization this year as it seeks financial advise


SAIMA SHABBIR
08 August 2025

Pakistan’s government has initiated the process to hire a new financial adviser for the partial sale of its New York-based Roosevelt Hotel, Adviser to the Finance Minister Khurram Schehzad confirmed this week, clarifying that the transaction would be completed this year.

….. Global real estate firm Jones Lang LaSalle (JLL) last month resigned from its role as financial adviser for the hotel’s privatization, citing a conflict of interest due to client interest in the property.

….. “The advertisement for the new financial adviser has already been published and the selection process is underway,” Schehzad told Arab News on Thursday, responding to the report.

Schehzad said JLL completed the entire transaction structure for the joint venture, which was approved by the Privatization Commission and the federal cabinet.

He said the new adviser would proceed with the same structure and would only be responsible for finding a development partner for the venture.

“Therefore, there will not be a delay of one-and-a-half years as reported,” the finance official clarified. “Instead, the transaction will be completed within this year as planned.”

Schehzad said JLL resigned from the process as the firm was interested in becoming a partner on the buyer’s side, which would have created a conflict of interest.

“They even committed to returning all the money they had received in their role as the financial adviser,” he said, adding that there were many parties interested in investing in the hotel.

[NYguy]

August 10, 2025

[SamLYNY]

Crazy to think how different that same shot could look in a few years. The towers at 655 & 625, 350 Park, the 383 revamp, the new tower at 343. It's about to get busy along here.

[NYguy]

Originally Posted by SamLYNY

Crazy to think how different that same shot could look in a few years. The towers at 655 & 625, 350 Park, the 383 revamp, the new tower at 343. It's about to get busy along here.

Yes, I just wish we had more renderings or at least massings to envision. The more I think about this site, and how Pakistan views it, I feel they may really want a tower that leaves a mark on the skyline, and not just in the background. I think that will ultimately play a roll in what gets built here, but everything remains to be seen. Personally, I would prefer a slender tower with a lot of setbacks, leading to a well designed spire or point, something sharp.

Pakistan’s government is estimating the redevelopment will take 4-5 years, the official said, adding the “interest level is extremely high.”

We shall see.

[SamLYNY]

Originally Posted by NYguy

Personally, I would prefer a slender tower with a lot of setbacks, leading to a well designed spire or point, something sharp.

Kinda agree. Something slim could potentially push up the height. If it ends up tall enough, something with a spire/pinnacle could break up the growing ~1400ft canopy of 'bulk' in the area. It being by 270 Park, and with 350 and potentially 175 Park rising soon, they'll need something spectacular if they want to stand out.

And although I'm not expecting a ~1600ft giant, even a 'filler' tower in the area will be a huge, modern, well-designed building that should bring huge improvements to street level. I'm happy with almost anything, but I'm hoping for a show-stopper.

Originally Posted by NYguy

I feel they may really want a tower that leaves a mark on the skyline, and not just in the background.

Let's hope so... time will tell.

[NYguy]

Originally Posted by SamLYNY

Kinda agree. Something slim could potentially push up the height. If it ends up tall enough, something with a spire/pinnacle could break up the growing ~1400ft canopy of 'bulk' in the area. It being by 270 Park, and with 350 and potentially 175 Park rising soon, they'll need something spectacular if they want to stand out.

And although I'm not expecting a ~1600ft giant, even a 'filler' tower in the area will be a huge, modern, well-designed building that should bring huge improvements to street level. I'm happy with almost anything, but I'm hoping for a show-stopper.

If it includes a spire, it needs to be at least 1,600 ft. I would even make it a new tallest if that fits the design, a nice slender tower with setbacks, classic New York. But you would only get that with mixed-use. Let’s hope they stick to that.

[ssh]

A taller Shard would look incredible here.

[NYguy]

Originally Posted by ssh

A taller Shard would look incredible here.

I’m particularly hoping for something with a sharp point.

[SamLYNY]

Originally Posted by ssh

A taller Shard would look incredible here.

Say no more... a super quick concept by me:



I kinda like the shard idea. Also I absolutely love this view across Jamaica Bay.


Image credit: QUEENSNYMAN Youtube | Flickr

[ChiND]

I agree with these sentiments. I hope that SLG doesn’t win and builds a 950 version of 343 Madison.

[ssh]

We really do lack something like this in the skyline.

Great work on that render.

[NYguy]

The skyline definitely needs something pointy to get that NY skyline feel back.


Imagine something here...


https://youtu.be/5etLWJSGOl4?si=fRO3Y6AkRmFKg6ul

[Sky88]

Maybe they'll take inspiration from towers like these...

[NYguy]

I always liked this design, a nice slender tower with setbacks.



https://www.skyscrapercenter.com/building/miglin-beitler-skyneedle/68

[Sky88]

Oh, this is my all-time favorite tower. The legendary 2,000-foot, 125-story Miglin-Beitler Skyneedle tower. My dream is to have a tower like this in New York and one in Chicago. It would be fantastic. I hope the designers of the Roosevelt Hotel project can take inspiration from this design.

[HyperPower]

Convocation Tower (1921), a 1,000-ft-tall Gothic skyscraper

Something Gothic.. a mixture of Tim Burtons Batman meets early lower Manhattan New York.

[mrnyc]

yeah neo-gothic for the win.

that’s the dream.

it will be interesting to see what we eventually get …