Among the potential buyers are SL Green and Vornado apparently. The first could deliver another masterpiece just as they did with One Vanderbilt, the latter will probably give us generic Norman Foster slop.
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It’s unfortunate because sometimes Foster gives you a gem like 270 but most of the time it’s just slop.
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270 park was designed in 2019, been 6 years. I have yet to see anything since beyond generic slop. I can’t tell apart 2wtc, PENN district, or his 2 unfortunate redesigns for 350 park or many other things they seem to be doing.
I sure hope this tower here won’t end as some generic greenwashed terraces.
There’s great potential in something nice between One Vanderbilt and 270 in the skyline.
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According to Bloomberg, the hotel is planned to be sold by June 2026
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Per NYguy via SSP:
https://nypost.com/2025/06/19/us-new…lies-relocate/
NYC’s notorious Roosevelt Hotel shelter will close next week as last migrant families relocate
By Matthew Fischetti, Mikella Schuettler, Craig McCarthy and Marie Pohl
June 19, 2025
The Roosevelt Hotel migrant shelter is set to close Tuesday – three years after it opened and quickly became a symbol of the city’s migrant crisis in the heart of Manhattan.
The Post previously reported that the hotel could sell for as much as $1 billion after migrants move out. A source told the Post that the property owner – the Pakistani government’s Pakistan International Airlines – were considering replacing the over 100-year-old hotel with a new skyscraper.
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It is now expected that in lieu of a sale, the junta will gift the property to the US president (in His personal capacity) as a token of appreciation for His alleged (but unproven) Nobel Prize-nominated role in defusing tensions with India earlier this year.
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or Pakistan says we’ll leave the old hotel standing.
The Roosevelt Hotel site will most likely be sold by Pakistan International Airlines for a new office tower, sources said, despite recent chatter to the contrary.
The city emptied migrants from the building bounded by Madison and Vanderbilt avenues and East 45th and East 46th streets this month. Major developers have champed at the bit for a crack at the precious site, which can support a new tower of at least 1.3 million square feet — and up to 1.8 million square feet if a buyer were to buy nearby air rights and exploit zoning rules that allow floor-area bonuses in exchange for providing transit and public-space improvements.
Asked about rumors a replacement building might combine offices, residences and a new hotel, one astute real estate dealmaker not involved at the location scoffed: “Get real. The value is in offices. The block is in the hottest commercial-development corridor in the country, from Grand Central Terminal north to East 57th Street between Madison Avenue and Park Avenue.
“You’ve already got One Vanderbilt and the new JPMorgan Chase headquarters. Two more giant buildings are planned on Park and another one on Madison. There are enough top-gun types of tenants looking for signature skyscrapers to go around.”
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"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.
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What kinda site are we looking at here? I know it’ll be big but for more context. What’s the sqft, how big is the site, comparisons to similar sites, etc?
Anyone know? Once it actually gets sold or privatized or whatever the hell they’re doing right now.
Around the same block size as 1 Vandy
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It has all the exact same zoning parameters as One Vanderbilt, all the blocks on Vanderbilt Ave do.
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Total mess
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Per NYguy on SSP:
https://www.urdupoint.com/en/pakista…n-2088771.html
November 21, 2025
Quote:
| Speaking about the Roosevelt Hotel, Muhammad Ali said a policy decision has been taken to pursue a joint venture for developing a high-rise building.
| The Government of Pakistan will remain a partner, while the new partner is expected to be a New York– or US-based developer. Shareholding and other modalities will be finalized in the next phase, with significant clarity expected in the first half of next year. |
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Per NYguy on SSP:
Looks like mixed-use is still on the table. That’s a good sign.
https://nukta.com/pakistan-aims-to-c…-by-next-month
Haris Zamir
November 21, 2025
Quote:
| An official also briefed the meeting on the future of the Roosevelt Hotel, Pakistan’s prime property located in the heart of Manhattan, New York.
He said the government has decided to construct a new high-rise tower on the existing site through a joint venture with a reputable U.S. real estate developer. He said the precise stake Pakistan will retain in the project will be determined after an independent valuation and financial assessment.
According to the official, Pakistan will remain a “significant partner” in the redevelopment and will work with investors to determine how much of the new skyscraper will be allocated for hotel rooms, residential units, offices or commercial space.
| The timeline for finalizing the joint venture partner and the transaction structure is mid-2026, he said. |
|---|
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Supertall the next
Supertall Zone
Age of…
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