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  #41  
Old Posted Oct 19, 2020, 11:59 AM
JMKeynes JMKeynes is offline
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This is a beautiful building. I'm not looking forward to seeing it come down.
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  #42  
Old Posted Oct 19, 2020, 2:27 PM
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This is a beautiful building. I'm not looking forward to seeing it come down.
A lot of people feel the same way about 270 Park or the Hotel Pennsylvania.
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  #43  
Old Posted Oct 19, 2020, 2:56 PM
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A lot of people feel the same way about 270 Park or the Hotel Pennsylvania.
I feel the same way about Hotel Penn. I'd like to see it renovated. I want the block full of sh.it to the north of it razed.

270 Park can be replicated if anyone wanted to build a new boring box. Consider the lame PoS that BP built on 8th Ave a few years ago.
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  #44  
Old Posted Oct 19, 2020, 3:38 PM
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Originally Posted by JMKeynes View Post
I feel the same way about Hotel Penn. I'd like to see it renovated. I want the block full of sh.it to the north of it razed.

270 Park can be replicated if anyone wanted to build a new boring box. Consider the lame PoS that BP built on 8th Ave a few years ago.

And the hotels could be built, brand new, if anybody wanted to. The point is, people have varying opinions on what should be saved, and what shouldn't be. Personally, I put all such complaints in the same category.
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  #45  
Old Posted Oct 20, 2020, 1:16 AM
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Originally Posted by JMKeynes View Post
I feel the same way about Hotel Penn. I'd like to see it renovated. I want the block full of sh.it to the north of it razed.

270 Park can be replicated if anyone wanted to build a new boring box. Consider the lame PoS that BP built on 8th Ave a few years ago.
Ditto. I would really like to see the Hotel Penn and the Roosevelt saved. Scrap 270 Park.

Ideally NYC puts in place a blanket landmark for all pre-WWII buildings. That's really where a VERY clear dividing line exists between classical architecture, with the last shreds of self-respect we've seen in the built environment, and modernism. Let all the parking lots, housing projects, and 1950s-1990s structures get redeveloped. It's more than enough to keep fat and happy the developers that pump every City Hall - including Sandinista Wilhelm's - full of corrupt money.
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  #46  
Old Posted Oct 20, 2020, 2:09 AM
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Ditto. I would really like to see the Hotel Penn and the Roosevelt saved. Scrap 270 Park.

Ideally NYC puts in place a blanket landmark for all pre-WWII buildings. That's really where a VERY clear dividing line exists between classical architecture, with the last shreds of self-respect we've seen in the built environment, and modernism. Let all the parking lots, housing projects, and 1950s-1990s structures get redeveloped. It's more than enough to keep fat and happy the developers that pump every City Hall - including Sandinista Wilhelm's - full of corrupt money.
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  #47  
Old Posted Oct 21, 2020, 12:00 AM
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Ideally NYC puts in place a blanket landmark for all pre-WWII buildings.
That would be ridiculous, and luckily no one would try to implement or even suggest it.




https://tribune.com.pk/story/2269211...d-pia-chairman

Roosevelt Hotel not being sold: PIA chairman
Says the NY entity will either be renovated or reconstructed


Waqas Ahmed
October 21, 2020


Quote:
The Senate Standing Committee on Aviation was told on Tuesday that the PIA’s Roosevelt Hotel in New York was not being sold but would either be renovated or reconstructed in future.

“Either the Roosevelt Hotel will be renovated or it will be demolished to build a 100-storey building,” PIA Chairman Arshad Malik told the panel of the upper house, which met under the chairmanship of Senator Mushahidullah Khan.
Quote:
Malik observed that the purpose of reconstructing the hotel was to reduce the expenses and turn it into a profit-making entity.

He told the body that the current market value of Roosevelt Hotel assessed by M/s Deloitte was $562 million.

The committee chairman pointed out that the value of hotel had already been assessed $1700 million and that it was a profit-making entity a year ago. He asked how it was now going into losses.

The PIA chairman replied that since 2015, the property had been making profits and incurring losses as well and added that $105 million were due towards it.

He further noted that government had paid $145 million for debt and other expenses and added that the entity might had been taken into possession after being declared bankrupt in case of non-payment of the loans.

Malik maintained that the financial advisory of the Privatisation Commission was looking into this matter and would decide the fate of the property.



https://propakistani.pk/2020/10/20/p...tory-building/

PIA Might Convert the Roosevelt Hotel Into a 100-Story Building


by ProPK Staff


Quote:
The committee meeting, chaired by Senator Mushahidullah Khan, was briefed by the PIACL Chief Executive Officer (CEO) Air Marshal Arshad Malik on reports about the closure of the airline’s Roosevelt Hotel in New York, besides financial constraints and capacity issues of the airline.

He made it clear that PIA is not going to sell the hotel, but it will be closed down by December 31, for its renovation and future utility plans.

The PIA CEO said that the privatization commission had been approached through the federal government, which would hire a financial consultant through an international tender to devise a future course of action, considering all the available options.

It would be decided later whether necessary renovation or repair work would be carried out or the existing building will have to be demolished for reconstruction and raising a 100-story hotel for which local bylaws are conducive.
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Last edited by NYguy; Oct 21, 2020 at 12:31 AM.
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  #48  
Old Posted Oct 21, 2020, 12:31 AM
JMKeynes JMKeynes is offline
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Pakistan: I salute thee!

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  #49  
Old Posted Oct 21, 2020, 12:36 AM
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Once things return to normal, hospitality is always booming in NYC (once things are back and the tourist hordes amass).

I wonder if such a 100 floor hotel, using the existing footprint (if they demo it), will aim for the largest by room count in the city. I mean if we are talking 100 floors, using the existing footprint, that is one massive hotel.
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  #50  
Old Posted Oct 21, 2020, 12:24 PM
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It has to be a 100-floor office tower, not a 100-floor hotel. A hotel makes no sense given that the Grand Central rezoning offers the extra air rights for office uses.

Also, if this were a real 100-floor office tower, it might be nearly 2,000 ft. It would almost certainly be the tallest building in the city, given floor heights these days.
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  #51  
Old Posted Oct 21, 2020, 12:52 PM
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Originally Posted by Crawford View Post
It has to be a 100-floor office tower, not a 100-floor hotel. A hotel makes no sense given that the Grand Central rezoning offers the extra air rights for office uses.

Also, if this were a real 100-floor office tower, it might be nearly 2,000 ft. It would almost certainly be the tallest building in the city, given floor heights these days.
I can see it as mixed use with a small, five-star hotel, offices, and an uber-luxury condo.
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  #52  
Old Posted Oct 21, 2020, 1:29 PM
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I think it'll more likely be a mixed-use hotel/office development than a 100-story hotel. It could be something like the Grand Hyatt development. There's also the option for a temporary renovation, like Vornado did with the Hotel Penn. But the fires of development are already knocking on the door here.












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  #53  
Old Posted Oct 22, 2020, 10:53 PM
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100-Story Supertall Rumored As Replacement For Roosevelt Hotel At 45 East 45th Street In Midtown East



Quote:
After it was announced last week that the historic Roosevelt Hotel would be closing its doors, owner Pakistan International Airlines (PIA) has since teased to what will become of the Midtown East building. One possibility is a new hotel standing 100 stories. Set in a prime location, the block-long 19-story structure is bordered by Madison and Vanderbilt Avenues and East 45th and 46th streets.

PIA has publicly stated that there are no currently plans for the building once the hotel closes. As reported by ProPakastani, during a Senate Standing Committee on Aviation PIA’s CEO Air Marshal Arshad Malik brought up the pending Roosevelt Hotel closure with regard to the financial constraints of the airline.

Arshad Malik said the hotel would be closed down by December 31 for renovations and future utility plans. At that point it would be decided if the Roosevelt Hotel needed necessary renovations or repair work, or the existing building will be demolished to make room for the new supertall. Assessed by accounting firm Deloitte, the current market value of the hotel is $662 million based on highest and best use, according to Malik.

PIA’s CEO also said the hotel revenue was in the negative in part because of debt servicing and unionization, as well as the dilapidated conditions of the building including infrastructure, guest rooms, and public areas. The coronavirus pandemic has only aggravated the declining business, which is estimated to increase revenue losses to $6 million per year.
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NYY/VANESSA LONDONO
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  #54  
Old Posted Oct 23, 2020, 1:36 AM
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Originally Posted by chris08876 View Post
100-Story Supertall Rumored As Replacement For Roosevelt Hotel At 45 East 45th Street In Midtown East

It's no rumor, the man said it, lol.

Quote:
“Either the Roosevelt Hotel will be renovated or it will be demolished to build a 100-storey building,” PIA Chairman Arshad Malik told the panel of the upper house, which met under the chairmanship of Senator Mushahidullah Khan.

There seems to be a lot of interest over there about the fate of this hotel. I think they've had this redevelopment plan, or an idea of it for years. The rezoning only solidified it. I think the way they handled the closing is the problem. It was just sprung on people using covid as a cover. And it's not like that was untrue either. Still, the idea that covid has forced the closing of the hotel, but suddenly there's this plan for a 100-story building, yeah, it didn't happen that quickly. There's been a plan on standby. Now, they still could just renovate the hotel for the short term. But it's a placeholder, either way you look at it.
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  #55  
Old Posted Oct 23, 2020, 3:01 PM
faridnyc faridnyc is offline
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What is the height of this tower ?? So 100 floors i think it will be at least +1650ft !! I hope that it will beat the one world trade center tip height !!!!
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  #56  
Old Posted Oct 23, 2020, 4:11 PM
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Originally Posted by faridnyc View Post
What is the height of this tower ?? So 100 floors i think it will be at least +1650ft !! I hope that it will beat the one world trade center tip height !!!!
If it's 100 floors, and if it's an office tower (or primarily an office tower), yeah, it'll likely be the tallest building in NYC.

But I suspect we'll have to wait a bit for concrete plans.
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  #57  
Old Posted Oct 23, 2020, 4:24 PM
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^ I'm surprised they even mentioned tgat much, considering they haven't publicly commited to it. But I don't know howvthings work over there. They could come back next week with the full plans, even though they aren't commiting to making a decision so soon. Still though, it would be interesting to see what's floating around.


https://nation.com.pk/11-Oct-2020/my...rk?version=amp

Quote:
Roosevelt Hotel had acquired a loan of $105 million from JP Morgan, an American financier, at an interest rate of 5.05% with maturity in April 2021, according to some official documents seen by The Nation. Annual interest payment had been calculated at approximately $6 million. JP Morgan later sold its loan of worth $68.25 million to MSD PCOF Partners. The sale of the loan complicated the situation for Roosevelt Hotel due to certain reasons.

For the past several years, MSD has been expressing its desire to be a joint venture partner in the development of Roosevelt Hotel’s site, an official said. MSD may attempt to leverage its position in achieving the goal, the official sources said adding that it also holds air rights in the vicinity of Roosevelt.

MSD is currently developing the Commodore/Grand Hyatt into a mixed-use tower that will include a smaller Grand Hyatt. Terminal City is starting to reach its full potential.

But we are looking Madison becoming another street of supertall buildings.


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  #58  
Old Posted Oct 23, 2020, 5:17 PM
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Originally Posted by NYguy View Post
It's no rumor, the man said it, lol.
I hope he's being serious, he could've just been speculating or saying that off the top of his head.

Wouldn't mind another 100 story building in NYC though
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  #59  
Old Posted Oct 23, 2020, 6:19 PM
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The Midtown East rezoning will yield many super talls. A lot of potential sites out there.
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  #60  
Old Posted Oct 24, 2020, 2:24 AM
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Originally Posted by Zapatan View Post
I hope he's being serious, he could've just been speculating or saying that off the top of his head.

Why would he be speculating? You think he wouldn't have any idea what's going on? Would Gary Barnett testify before the senate with no idea what was going on with the site of the Central Park Tower?


Quote:
The Senate Standing Committee on Aviation was told on Tuesday that the PIA’s Roosevelt Hotel in New York was not being sold but would either be renovated or reconstructed in future.

“Either the Roosevelt Hotel will be renovated or it will be demolished to build a 100-storey building,” PIA Chairman Arshad Malik told the panel of the upper house, which met under the chairmanship of Senator Mushahidullah Khan.


This is the Vanderbilt Corridor, which was given the highest FAR (30) in the midtown east rezoning. So far we've gotten One Vanderbilt out of it. The Roosevelt Hotel is just above 343 Madison.



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