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

[fadedgrandeur]

Originally Posted by Crawford

The interior is unoriginal. It was repeatedly altered, and there is no argument for landmarking.

Based on all the photos I see the lobby is untouched. It seems like one of the only prewar hotels that actually does have a relatively unscathed lobby.

[NYguy]

Here's an idea, why don't we just landmark Manhattan? It's agreed that we like it, let's just preserve everything as is. Who needs new buildings when old buildings already exists? Future generations need to know what I can look at today. How will they ever know what was? In fact, the greatest mistake ever made was building out Manhattan in the first place. It would have been much nicer in it's natural state. So let's just stop building now, and preserve everything forever.

[Crawford]

Knock that crap down. Would be perfect location for 2,000 ft., skyline-altering tower.

[NYguy]

I think a mixed-use, office/hotel scenario would work best for this site. Something along the lines of the Grand Hyatt. It wouldn't be as large in size, (it would be basically identical in zoning to 1 Vanderbilt). But the height could be anything, depending on design.

[MAC123]

I'd prefer at least 1,500 akin to the original 1 Vanderbilt proposal. But right now the height isn't that important as it's just getting torn down, no design, no anything else yet.

[JMKeynes]

Originally Posted by MAC123

I'd prefer at least 1,500 akin to the original 1 Vanderbilt proposal. But right now the height isn't that important as it's just getting torn down, no design, no anything else yet.

Who said that it will be razed?

[MAC123]

Originally Posted by JMKeynes

Who said that it will be razed?

Was it not? I keep getting it mixed up with the other large hotel.

[Crawford]

Originally Posted by JMKeynes

Who said that it will be razed?

I don't think there's any chance it won't be razed.

It would be crazy to keep a giant, abandoned hotel when you have development rights for a 2 million square foot supertall.

[mrnyc]

from the other day — stay or go?

[Crawford]

That question was decided decades ago.

It was just a placeholder until a new tower is built. Now even the placeholder is done, as the Pakistan Investment Authority closed the hotel.

[BK1985]

this would be a nice candidate to get the Hearst treatment at the base.

[JMKeynes]

Originally Posted by BK1985

this would be a nice candidate to get the Hearst treatment at the base.

I’d like to see it landmarked, and to compensate the owners, double the air rights that it could have had could be sold. It’s a beautiful building.

[Crawford]

Originally Posted by JMKeynes

I’d like to see it landmarked, and to compensate the owners, double the air rights that it could have had could be sold. It’s a beautiful building.

Landmarks already rejected landmarking this dump. It's a goner.

[JMKeynes]

Originally Posted by Crawford

Landmarks already rejected landmarking this dump. It's a goner.

That sucks Dick Cheney.

[NYguy]

https://tribune.com.pk/story/2371409...evelt-to-qatar

Govt to offer 51% stakes in PIA, Roosevelt to Qatar


Shahbaz Rana
August 16, 2022

ISLAMABAD:
The government on Monday shelved a plan to sell two LNG-fired power plants to Qatar and instead decided to offer 51% stakes in the Roosevelt Hotel, New York, and the Pakistan International Airlines (PIA).

Prime Minister Shehbaz Sharif took these decisions during a meeting convened to make preparations for his visit next week to Qatar, which is tentatively planned for August 22 to 23, highly placed sources told The Express Tribune.

The premier has also constituted a committee to finalise these proposals by end of this week and complete all the paperwork before his departure next week, they added.

It was also decided on Monday that Pakistan should offer 51% stakes in The Roosevelt Hotel, New York, and the PIA along with the management control to Qatar. But the PIA law bars selling more than 49% stakes and giving management control to any other party.

It was decided that the legal process to amend the PIA law should immediately be initiated to do away with the restricting clause.

The Roosevelt Hotel is owned by the PIA through a PIA-Investment Limited. The PIA-IL holds its stakes through a subsidiary which is registered in the British Virgin Islands. The hotel, located at a highly priced location, was closed in December 2020.

[JMKeynes]

That seals the deal. The Qataris have enough money to build on spec. I hope that they build condos and a seven-star hotel on top of the office portion.

I hope that the Qataris redevelop the hideous, full-block Manhattan Hotel in Times Square too.

[NYguy]

Well, we shall see what happens. This has been a long saga, but it’s a valuable piece of property with development potential in a city that is running out of them.

[mrnyc]

Originally Posted by Crawford

That question was decided decades ago.

It was just a placeholder until a new tower is built. Now even the placeholder is done, as the Pakistan Investment Authority closed the hotel.

yes, but any real news?

[NYguy]

https://www.brecorder.com/news/amp/40186967

Roosevelt Hotel: AD presents ‘incomplete’ leasing plan to ECC


Mushtaq Ghumman
20 Jul, 2022

The Aviation Division (AD) has reportedly presented an ‘incomplete leasing plan’ of Roosevelt Hotel, New York to the Economic Coordination Council (ECC), seeking its approval urgently, fearing that Roosevelt Hotel Corporation (RHC), could be land marked any day, well informed sources in Aviation Division told Business Recorder.

On July 7, Aviation Division secretary noted that RHC New York is owned by PIA-Investment Limited (PIA-IL), a subsidiary of PIAC. It was added that hotel business has been badly affected as a result of Covid-19 pandemic and had to be shut down in December 2020 with the approval of cabinet to avoid cost of $37 million per annum.

Aviation Division explained that earlier on 2 September 2020, ECC had approved $142 million for RHC to payoff outstanding loan, severance charges of about 500 employees and other liabilities such as local taxes, insurance etc.

Subsequently, ECC again approved $30.3 million on September 15, 2021 as carrying over costs for 2021. Pursuant to ECC decisions, Finance Division had arranged funds through loan from National Bank of Pakistan.

The ECC was informed that the Cabinet Committee on Privatization (CCoP) on July 2, 2020 approved leasing of RHC site for setting up a joint venture project for prospective mixed used development, the best suited mode of privatisation as delineated in the PC Ordinance, 2000 and directed PC to initiate the appointment of Financial Advisor to undertake the exercise in its meeting held on July 02, 2020.

However, the litigation in Tethyan Copper Company (TCC) in a Reko Diq case, halted the process for appointment of FA.

Subsequently, after out of court settlement with TCC, the office of Attorney General of Pakistan had advised Aviation Division to initiate the process of appointment of FA and PC was requested accordingly.

Aviation Division further shared two serious issues that confronted PIA-IL’s management - one related to illegal demand from the union employees and the other land marking of RHC. It was stated that Aviation secretary along with PIA-IL board members held discussions with all concerned, led by Ambassador of Pakistan in USA. A post visit report was also submitted to the office of the Prime Minister on May 23, 2022.

The PMO had directed Aviation secretary to brief the board of directors of PIA-IL of RHC and any firmed-up proposal be presented to the competent forum for further directions.

Secretary Aviation, in his capacity as Chairman PIA-IL Board convened a meeting and after deliberation, requested for GoP’s decision on the following proposals:

(i) in view of the foregoing onerous demands by the Union, and to mitigate the risk of land marking, GoP to reconsider its earlier decision regarding permanent closure of the Hotel and to re-open it;

(ii) PIA-IL/RHC to explore the option of re-opening the Hotel either on its own or through third-party short-term leasing arrangements.

(iii) PIA-IL/RHC would continue negotiations with the Union, and would try for restoration of status quo ante, however, if it fails, then a firm commitment be made to the Union for a component of the Hotel as part of re-development of the Roosevelt’s site;

and (iv) Privatisation Commission be requested to expedite the implementation of CCoP’s earlier decision for appointment of financial advisor to undertake the envisaged leasing of Roosevelt’s site for setting up a joint venture project for the prospective mixed used development through the best suited mode of privatisation as delineated in the Privatisation Commission’s Ordinance, 2000.

The Secretary Aviation indicated urgency and stated that the issue merits attention as RHC could be land marked any day. However, on directions of the forum, Secretary Aviation agreed to provide supplemental information on the proposal for consideration of the forum in its next meeting. The Economic Coordination Committee (ECC) of the Cabinet deferred the item and directed the Aviation Division to provide supplemental information on the proposal for further deliberation on the matter in the next meeting of ECC.

[MAC123]

Uhmmso what does this mean^