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

[NYguy]

Originally Posted by ChiND

I loved The Roosevelt and was in no rush to see it go. That being said, with this new team, I suspect that this tower is going to be absolutely iconic. I wouldn't be surprised if it becomes the city's new tallest tower.

I'm sure it would have been something iconic regardless of the team. But we have yet to see any details.

[ChiND]

Originally Posted by NYguy

I'm sure it would have been something iconic regardless of the team. But we have yet to see any details.

I don't know about that. I could have seen Boston Properties building a 900-1000 foot chunky glass box.

The Donald is going to want something over the top here.

He's always wanted to build big in Gotham. Do you remember this proposal? It was utterly iconic for its time.

[Sky88]

I would say it's best to avoid getting too excited about this project, such as "the new tallest tower in the city" or similar ideas, and then end up disappointed.

[Triple_Sim]

Originally Posted by NYguy

I'm sure it would have been something iconic regardless of the team. But we have yet to see any details.

To replace a nice prewar building, it’d better be a supertall and really iconic.

[NYguy]

Originally Posted by ChiND

I don't know about that. I could have seen Boston Properties building a 900-1000 foot chunky glass box.

At this point, you should know better.

[NYguy]

https://www.thenews.pk/print/1401550-pak...stment-for-roosevelt-hotel-redevelopment

Pakistan eyes $4-5bn joint investment for Roosevelt Hotel redevelopment


By Mehtab Haider
February 26, 2026

Pakistan is all set to secure $4 to $5 billion in joint investment for the reconstruction of Roosevelt Hotel in New York, as the government is going to select a Financial Adviser by the first week of next month.

When asked about the possibility of signing a memorandum of understanding (MoU) with the Donald Trump administration, Adviser to the Prime Minister on Privatisation Muhammad Ali said the government’s financial adviser would develop a transaction structure for redevelopment of the Roosevelt Hotel in New York.

Speaking to reporters at the Pakistan Governance Forum (PGF), organised by the Ministry of Planning on Wednesday, he explained that under the proposed model, the government would retain ownership of the property, while an interested party would arrange financing for construction. The objective, he added, is to generate long-term benefits for the country rather than sell the high-value asset outright.

Deputy Prime Minister/Foreign Minister Ishaq Dar said that Pakistan responded to the newly evolving architecture on relationship among the countries based on tailored cooperation with our partner countries.

[patriotizzy]

Originally Posted by NYguy

https://www.curbed.com/article/2-world-trade-foster-silverstein-american-express.html

The Roosevelt, a stolid 19 masonry floors, can’t compete in this new game. It’s a good building but also kind of frumpy, and it spent a few years as a migrant shelter during the pandemic...

By Christopher Bonanos
Feb 25, 2026

It really went out in the saddest most disrespectful way for what was one of the most eloquent and prestigious hotels of its time.

"The Roosevelt Hotel in NYC was extremely famous and prestigious, operating as a "Grand Dame" of Madison Avenue from its opening in 1924. Known for its Roaring Twenties grandeur, it hosted celebrities, athletes, and politicians, and was famously home to Guy Lombardo’s New Year's Eve performances." - https://www.voanews.com/a/the-roosevelt-hotel-a-window-into-new-york-city-history/8006811.html

[mrnyc]

Originally Posted by patriotizzy

It really went out in the saddest most disrespectful way for what was one of the most eloquent and prestigious hotels of its time.

"The Roosevelt Hotel in NYC was extremely famous and prestigious, operating as a "Grand Dame" of Madison Avenue from its opening in 1924. Known for its Roaring Twenties grandeur, it hosted celebrities, athletes, and politicians, and was famously home to Guy Lombardo’s New Year's Eve performances." - https://www.voanews.com/a/the-roosevelt-hotel-a-window-into-new-york-city-history/8006811.html

it was long, long past its grande dame era. covid was the last straw for it as a limping outdated old hotel -- and then it actually went out in the most honorable and respectful ways sheltering immigrants briefly.

[NYguy]

And remember, they were suing the city because they did not want to reopen and were being forced to, or pay wages to former workers. (This was always a development site in waiting.) The deal between the city and the hotel to house immigrants was a win-win for both sides at the time. But that time has come and passed.



https://propakistani.pk/2026/02/26/pakis...n-investment-to-rebuild-roosevelt-hotel/

Muhammad Ali, the prime minister’s adviser on privatization, said the selected adviser would design a redevelopment framework for the Manhattan property, one of Pakistan’s most valuable overseas assets.

The government intends to retain ownership of the hotel while bringing in an investor to arrange financing for reconstruction, he told reporters on the sidelines of the Pakistan Governance Forum in Islamabad on Wednesday.

They're supposed to select a financial advisor next week, and then the process of choosing a developer would begin. Not sure at this point what role the US will play, other than probably putting weight behind one developer over another. Who knows? But the bottom line is that a new tower is coming.

[mrnyc]

i wonder what reconstruction and redevelopment means?

cagey terms.

it could mean reno the existing structure as much as new build.

not sure they even know what they want to do.

for now at least there is some pressure and agreement for action.

its a weird situation, but thats good news.

the financial planner will have to run some numbers for various scenarios before they make a decision and cast for developers.

so i guess we’ll have to wait and see.

[Busy Bee]

Is there a chance Trump wants the government to be involved here in the hopes of being able to meet Muhammad Ali?

[NYguy]

Originally Posted by mrnyc

i wonder what reconstruction and redevelopment means?

cagey terms.

it could mean reno the existing structure as much as new build.

not sure they even know what they want to do.

for now at least there is some pressure and agreement for action.

its a weird situation, but thats good news.

the financial planner will have to run some numbers for various scenarios before they make a decision and cast for developers.

so i guess we’ll have to wait and see.

They’ve already done that part (documented here). That’s how we got here. The financial planner will be looking at the different proposals put forth by the developers. We already know that Pakistan’s preference is for a mixed-use tower (also stated here) containing office, hotel, residential, and some retail space. The exact mix will be determined by the financial advisor and developer. Presumably, the best economic proposal will win. But with the US government involved, it could be weighted towards a specific developer. Little has been said of the US involvement other than a “partnership”. Make of that what you will.

[Triple_Sim]

Originally Posted by NYguy

(This was always a development site in waiting.)

Are Midtown sites really that rare that it can't be helped that a 1920s heritage building has to be razed to develop? IIRC, there's tons of non-heritage lowrises that should be developed first. Now, yes, I know, the owners of any lot will want to develop that lot, as they own it and not the others, but still, it's the City's job to direct developement towards underused, not-occupied-by-heritage-building locations. Of which there are still plenty.

I'm on the fence about tearing this down - IF the replacement is NYC's tallest and truly iconic, okay, I guess it'll have been worth it. I hope you guys are correct about this.

[UrbanImpact]

Originally Posted by Triple_Sim

Are Midtown sites really that rare that it can't be helped that a 1920s heritage building has to be razed to develop? IIRC, there's tons of non-heritage lowrises that should be developed first. Now, yes, I know, the owners of any lot will want to develop that lot, as they own it and not the others, but still, it's the City's job to direct developement towards underused, not-occupied-by-heritage-building locations. Of which there are still plenty.

I'm on the fence about tearing this down - IF the replacement is NYC's tallest and truly iconic, okay, I guess it'll have been worth it. I hope you guys are correct about this.

Every building has an owner and each of those owners decides when they want to sell. Developers cannot just buy any building just like they cannot build whatever they want (zoning). Many of those under-used or non-heritage buildings are not for sale or are even in a location that the client wants or is zoned for what the client needs .

[Crawford]

Originally Posted by Triple_Sim

Are Midtown sites really that rare that it can't be helped that a 1920s heritage building has to be razed to develop?

Yes.

And what do you mean by "heritage building"? It's a 1920's building, which is the typology dominating the Manhattan built form. It has no historic designation.

Originally Posted by Triple_Sim

IIRC, there's tons of non-heritage lowrises that should be developed first.

Name one. Give us a full block, 2 million square foot tower site that connects to Grand Central.

Also, any remaining lowrises in this part of town are likely remaining tenements and will be older and rarer than 1920's-era hotels, which are everywhere in Midtown East. Lexington Ave. is basically a parade of 1920's hotels.

[NYguy]

Originally Posted by Triple_Sim

Are Midtown sites really that rare that it can't be helped that a 1920s heritage building has to be razed to develop?

That you would even ask that suggest you should sit this one out.



FEBRUARY 26, 2026

[NYguy]

https://nypost.com/2026/02/28/us-news/pa...grant-cash-now-owes-13-6m-in-back-taxes/

Pakistan’s Roosevelt Hotel took $146M in NYC taxpayer cash for migrants — and owes over $13M


By Lois Weiss
Feb. 28, 2026

After pocketing $146.6 million to run the Roosevelt Hotel as a migrant shelter for two years, Pakistan’s state-owned property is now stiffing the city for $13.6 million in overdue property taxes and nearly $1 million in unpaid water bills, The Post has learned.

Even worse: A sweetheart deal with the feds to redevelop the Midtown landmark into a supertall skyscraper could let Pakistan dodge all future taxes — potentially costing the city tens of millions per year.

The Pakistani-owned hotel at 45 East 45th St. signed a payment agreement with the city’s Department of Finance in September 2023, when it already owed $11.6 million.

But despite getting paid millions by taxpayers to house migrants, Pakistan blew off a $573,361 payment due Jan. 2 and skipped a $3.9 million half-year payment.

“This property is currently in default on its payment plan,” a DOF spokesman confirmed.

A joint venture between Pakistan and the US government to demolish the Roosevelt and build an office tower could trigger a federal tax exemption, since the State Department typically asks the DOF to grant one when a foreign government buys US property.

“We have not received a letter in this case,” the DOF spokesman said. “However, any charges that accrued prior to government ownership must still be paid.”

The potential joint venture with the US government is still in early stages, with only a Memorandum of Understanding signed.

As for the hotel’s outstanding water bill, the city Department of Environmental Protection said its “still working with them to get that balance paid off.”

[mrnyc]

oh well, start foreclosure proceedings.

[NYguy]

My idea of how a tower between the current dominant towers (270 Park, One Vanderbilt) on the block would fit in. Not necessarily a design, but a "fit"...








It says to me that a tower needs to be at least a little higher than these 2 to stand out as an individual landmark on the skyline, especially with the coming, taller towers...

[The New York Lion]

This would be an amazing spot for the tallest tower in New York

Maybe a base of premium office + condos and hotel at the top.

The office will fill up very quickly at crazy prices, and the condos + hotel would be in extremely high demand.

Imagine working at JP headquarters or One Vandy and having the chance at a 1,000+ foot condo a block or so away.

That would be way more fun and sexy for a banker than living in Westchester or Connecticut.