New York’s Roosevelt Hotel May Make Way for New Skyscraper

Pakistan is considering options for the Roosevelt Hotel in Midtown Manhattan as part of the South Asian nation’s efforts to meet its commitments to the International Monetary Fund.

One of the options is to raze the storied landmark and build a skyscraper in its place, said Muhammad Ali, adviser to the prime minister on privatization. The government is keen on a joint venture where Pakistan will contribute the land and the partner will bring in the equity, he told Bloomberg in Islamabad.

The other option is to retain the hotel if it makes economic sense, he said.

Once a ...