{"id":157593,"date":"2026-03-09T08:35:12","date_gmt":"2026-03-09T08:35:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/157593\/"},"modified":"2026-03-09T08:35:12","modified_gmt":"2026-03-09T08:35:12","slug":"more-head-scratching-news-about-roosevelt-hotel","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/157593\/","title":{"rendered":"More head-scratching news about Roosevelt Hotel"},"content":{"rendered":"<p>The Financial Times reported last week that the Pakistan government \u201cthwarted\u201d an attempt by JPMorgan Chase to buy the Roosevelt Hotel. There was only one question:<\/p>\n<p>What attempt?<\/p>\n<p>According to the FT, Pakistan International Airlines, the Roosevelt\u2019s nominal owner, chose to \u201cpursue a redevelopment plan that would transform the site into a high-rise project while allowing Islamabad to keep a stake in the property.\u201d<\/p>\n<p><img style=\"aspect-ratio:1.49926794;display:block\" loading=\"lazy\" decoding=\"async\" data-modal-image=\"38714016\" width=\"885\" height=\"590\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/03\/2-19-26-roosevelt-hotel-121770334.jpg\" alt=\"The Roosevelt Hotel in NYC, seen from the street, with pedestrians and cars in the foreground.\" class=\"wp-image-38714016\"  \/>Pakistani International Airlines, the nominal owner of the Roosevelt Hotel, has long been known to want to redevelop the site to a high-rise project, Brian Zak\/NY Post<\/p>\n<p>But PIA\u2019s intentions were long known. Moreover, we found no previous mention other than rumors that JPMorgan Chase was seriously pursuing the property. Even so, other outlets parroted the FT\u2019s story as if the bank\u2019s supposed campaign was a long-established fact.<\/p>\n<p>After JLL resigned or was pushed out as PIA\u2019s advisor two years ago, PIA was reported last fall to be weighing fresh proposals from seven different groups to advise on the Roosevelt\u2019s future. The team in the lead, we reported, was led by Morgan Stanley \u2014 not by JPMorgan Chase.<\/p>\n<p>Moreover, last month\u2019s puzzling agreement between Pakistan and the US General Services Administration to cooperate on the Roosevelt wasn\u2019t only about \u201cmaintaining and renovating\u201d it, as the FT said, but about redeveloping it.<\/p>\n<p><img style=\"aspect-ratio:1.49926794;display:block\" loading=\"lazy\" decoding=\"async\" data-modal-image=\"38714017\" width=\"885\" height=\"590\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/03\/2-19-26-roosevelt-hotel-121770200.jpg\" alt=\"The exterior of The Roosevelt Hotel in NYC, with a woman walking past its ornate entrance.\" class=\"wp-image-38714017\"  \/>Pakistan and the US General Services Administration last month agreed to cooperate on the Roosevelt.  Brian Zak\/NY Post<\/p>\n<p>The Roosevelt site between Madison and Vanderbilt avenues in the East 40s is valuable and its development issues are complex, but it is not the Louisiana Purchase. If PIA and JPMorgan Chase \u2013 or anyone else \u2014 wanted to make a deal, they had only to sit down and sign the papers.<\/p>\n<p>The truth is, nobody truly knows what the Pakistanis want to do with the Roosevelt \u2014 if they even know themselves.<\/p>\n","protected":false},"excerpt":{"rendered":"The Financial Times reported last week that the Pakistan government \u201cthwarted\u201d an attempt by JPMorgan Chase to buy&hellip;\n","protected":false},"author":2,"featured_media":157594,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[288,810,1500,75,84,83,9,24,63,28479,1491,3274],"class_list":["post-157593","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-business","tag-hotels","tag-jpmorgan-chase","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc","tag-pakistan","tag-real-estate","tag-realty-check"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/157593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=157593"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/157593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/157594"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=157593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=157593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=157593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}