In the 19th century, New York Central Railroad lines north of
Grand Central Depot in Midtown Manhattan were served exclusively by
steam locomotives, and the rising traffic soon caused accumulations of smoke and soot in the
Park Avenue Tunnel, the only approach to the depot. After a fatal crash in 1902, the New York state legislature passed a law to ban all steam trains in Manhattan by 1908. New York Central's vice president
William J. Wilgus proposed electrifying the line and building a new electric-train terminal underground, a plan that was implemented almost in its entirety. The old Grand Central Depot was torn down in phases and replaced by the current Grand Central Terminal. Passenger traffic on the commuter lines into Grand Central more than doubled in the years following the terminal's completion. The terminal spurred development in the surrounding area, particularly in Terminal City, a commercial and office district created above where the tracks were covered. Terminal City soon became Manhattan's most desirable commercial and office district. A 1920
New York Times article said, "With its hotels, office buildings, apartments and underground streets it not only is a wonderful railroad terminal, but also a great civic centre." The Roosevelt was one of several hotels developed in Terminal City, along with other hostelries such as the
Commodore, the Biltmore, and the
Barclay.
United Hotels and Roosevelt Hotels Inc. operation Construction and opening The New York State Realty and Terminal Company, a division of New York Central, leased the city block bounded by Madison Avenue, 46th Street, Vanderbilt Avenue, and 45th Street to the United Hotels Company of America in June 1922. United Hotels had leased the site for 21 years, with options to renew the lease twice, and was planning a 15-story hotel there. The building alone was projected to cost $8 million, while the land and furnishings were to cost another $10 million. United Hotels announced the next month that the hotel would be named the Roosevelt and that it had awarded a general construction contract to the
Thompson–Starrett Company.
Niagara Falls businessman
Frank A. Dudley oversaw the hotel's development, along with F. W. Rockwell. Construction started on November 18, 1922, when workers began demolishing the old Tiffany Studios at Madison Avenue and 45th Street. To finance the Roosevelt's construction, in December 1922, United Hotels Company of America subsidiary New York United Hotels Inc. received a $3.5 million loan. Early the following year, New York United Hotels Inc. began issuing gold bonds for the same amount. By early 1923, half of the storefronts had already been leased; the tenants included several women's clothing shops. The Roosevelt Hotel opened on September 22, 1924, with a party attended by 1,500 guests. the plaque depicted a
Ding Darling cartoon that had appeared in the
New-York Tribune after the former president died. To provide further financing for the Roosevelt, United Hotels issued $5.5 million in
debentures in early 1927. Meanwhile,
Hugo Gernsback started the radio station
WRNY in June 1925 from a room on the Roosevelt's 18th floor. WRNY relocated its transmitter to New Jersey in August 1929, and the radio station moved its studios to 57th Street the next month. United Hotels merged with
Bowman-Biltmore Hotels in mid-1929, and
John McEntee Bowman took over the Roosevelt's operation. By 1931, the Roosevelt Hotel had trouble paying rent on the site, and New York United Hotels notified the hotel's bondholders that it would not be able to pay interest on the bonds. This prompted one bondholder to file a lawsuit in the
New York Supreme Court in April 1932, claiming that New York United Hotels was insolvent and asking the court to appoint a receiver for the Roosevelt Hotel. New York United Hotels denied the allegations, and a state court dismissed the case because it had been brought by a minority bondholder. Within three months, 95 percent of New York United Hotels' bondholders had agreed to a reorganization plan for the hotel. The remaining bondholders sought a receiver for the hotel, but the New York Supreme Court again denied this petition. The
Delaware Court of Chancery appointed three receivers for the hotel in December 1933, and several men proposed reorganizing New York United Hotels Inc. later the same month. The receivers paid an orchestra $2,500 per week to give daily performances in the grill room. Three minor bondholders filed another bankruptcy petition against the Roosevelt in January 1934, and a federal court approved a plan to reorganize the assets of New York United Hotels Inc. A corporation called Roosevelt Hotels Inc. offered to buy the hotel for $25,000 in March 1934, saying that New York Central held the hotel's mortgage and that the leasehold was worthless because the hotel's rent was overdue. Despite protests from bondholders, a federal judge approved Roosevelt Hotels Inc.'s bid, as there had not been any other offers for the hotel. Shortly afterward, New York Central agreed to drop its
dispossession proceedings against New York United Hotels as part of the reorganization plan. The hotel company would replace all of its common stock, and the railroad would receive $1.3 million in new debentures. Another dining room at the Roosevelt also opened in 1934. Roosevelt Hotels Inc. signed a new lease for the hotel with the New York State Realty and Terminal Company in 1940.
Hilton management Hilton Hotels took over management of the Roosevelt in June 1943, when
Conrad Hilton bought the majority of the outstanding common stock in Roosevelt Hotel Inc. The Roosevelt became the Hilton chain's first hotel east of Texas, although Conrad Hilton expressed interest in purchasing more hotels in New York City. Simultaneously, New York Central renewed Roosevelt Hotel Inc.'s lease for another 21 years. In November 1947, the Roosevelt added TV sets to 40 rooms on the seventh through ninth floors, becoming the first hotel in the United States to provide permanent TVs in guestrooms. Hilton Hotels appointed Frank G. Wangeman as the hotel's general manager in 1951. Wangeman oversaw a $75,000 renovation of the hotel in mid-1952, adding by relocating a luncheon club from the 16th floor and consolidating some departments. In addition, the hotel's employee dormitories were converted to guestrooms, as an increasing number of employees had their own residences. Roosevelt Hotel Inc.'s minority shareholders agreed in October 1952 to sell their stakes to Hilton Hotels, which purchased the hotel outright on December 31, 1952. Edward L. Buckley, who subsequently took over as the Roosevelt's general manager, announced in 1955 that the guestrooms would be renovated for $200,000. Hilton was installing air conditioners in all of the hotel's guestrooms by early 1956.
Hotel Corporation of America ownership After Hilton Hotels purchased the
Statler Hotels chain in 1954, it owned large hotels in many major cities, including the Roosevelt, the
Plaza, the
Waldorf-Astoria, the
New Yorker, and the
Hotel Statler in New York City. Consequently, the federal government filed an
antitrust action against Hilton in April 1955. To resolve the suit, Hilton agreed to sell three hotels in February 1956 – the
Hotel Jefferson in St. Louis, the
Mayflower Hotel in Washington D.C., and either the Roosevelt or the New Yorker in New York. Hilton ultimately sold the Roosevelt to the
Hotel Corporation of America (HCA) on February 29, 1956, for $2.13 million. HCA paid $750,000 as a
down payment and assumed Hilton's leasehold on the site, which ran through 1964. HCA leased the land from the New Haven Railroad and the New York Central Railroad, the latter of which received most of the income from the site. When HCA purchased the hotel, workers were still installing air conditioning and televisions. By mid-1956, there was air conditioning in all public areas and 600 guest rooms, and there were televisions in 500 guest rooms. HCA announced plans to renovate the Roosevelt in late 1956, spending $8 million over the next eight years. The first part of the renovation to be completed was the Rib Room, which opened as a luncheon room at the end of that year. In 1962, amid competition from other hotels, the Biltmore, Commodore, and Roosevelt hotels formed an alliance to attract conventions with 1,500 to 5,000 guests. The alliance allowed the three hotels to host a single convention across 4,000 guestrooms, 90 meeting rooms, 15 restaurants, and of exhibit space.
Realty Hotels ownership By early 1964, the trustees of the insolvent New Haven Railroad expressed interest in taking over the hotel and leasing it to Realty Hotels, a holding company jointly run by the New Haven and the New York Central. Realty Hotels took over the hotel from HCA that April. During the 1960s, Realty Hotels replaced about half of the manually operated elevators at the Barclay, Biltmore, Commodore, and Roosevelt, and it renovated these hotels as part of a $22 million modernization program. Realty Hotels' president said the renovations had helped attract new and returning customers to the hotels. The People's Republic of China delegation to the United Nations moved into the hotel's 14th floor in 1971, at which point the hotel's popularity had begun to decline. The Barclay, Biltmore, Commodore, and Roosevelt began showing in-room movies in 1972. The Roosevelt Grill became the La Difference restaurant in 1977. The New York Central had experienced financial decline during the 1960s, merging with the
Pennsylvania Railroad in 1968 to form the
Penn Central Railroad. Penn Central continued to face financial issues and failed to make
mortgage payments. By late 1970, the Roosevelt Hotel was facing
foreclosure, as were several other buildings that Penn Central owned around Grand Central Terminal. After Penn Central went bankrupt that year, the company sought to sell its properties, including the land below the Roosevelt Hotel. The buildings were placed for auction in October 1971. Penn Central received two bids for the hotel, including a low bid of $9 million from UGP Properties, Penn Central subsequently withdrew its offer to sell Realty Hotels' properties, including the Roosevelt. Instead, Penn Central spent $4.5 million renovating the Biltmore, Barclay, and Roosevelt hotels in 1976.
Milstein ownership and PIA lease In April 1978, Penn Central requested permission from a federal district court to sell the Biltmore, Barclay, and Roosevelt hotels for $45 million to
Loews Hotels. A consortium of Middle Eastern investors subsequently offered to buy the hotels for $50 million. Loews raised its offer for the three hotels to $55 million, and a federal judge approved the sale at the beginning of June 1978. Carter B. Horsley wrote that Loews's purchase of the three hotels "may save their future". At the time, the hotel had 1,076 rooms, and Loews was contemplating closing the Roosevelt Hotel and using it as an office building. Instead Loews resold the Biltmore and the Roosevelt to developer
Paul Milstein in July 1978 for $30 million, and Milstein began considering converting the two hotels into apartment buildings. In March 1979, Milstein leased the Roosevelt to
Pakistan International Airlines (PIA) through the latter's investment arm PIA Investments Ltd. PIA partnered with Prince
Faisal bin Khalid bin Abdulaziz Al Saud in the transaction. Prince Faisal and PIA were to pay $2.7 million to $4 million annually in rent, and they also obtained an option to acquire the hotel after 20 years at a set price of $36.5 million. The hotel's Colonial Room was destroyed during a fire in July 1980.
Turner Construction renovated the hotel's interior in the late 1980s. Soon afterward, during the
early 1990s recession in the United States, the Roosevelt began advertising to large associations and group conventions, which paid more than weekend visitors and tourists did. In addition, a mosque was founded within the Roosevelt's basement in the 1990s;
The New York Times reported in 1998 that the mosque attracted hundreds of congregants each week. During the first sixteen years of PIA's lease, the hotel lost $70 million worth of business because its facilities were outdated. As a result, PIA closed the hotel for an extensive renovation on July 1, 1995, and the hotel building was temporarily covered in scaffolding. PIA planned to rebrand the hotel as the Radisson Roosevelt. The hotel had 1,031 rooms at the time of its closure, but PIA expanded the capacity slightly to 1,040 rooms. During the renovation, various decorations were taken out of storage and reinstalled, The Roosevelt Hotel was one of several hotels in midtown Manhattan that were renovated in the 1990s. Though the project was initially planned to be completed in mid-1996 at a cost of $55 million, The Roosevelt's operators began hiring employees in early 1997, receiving thousands of job applications for 700 positions. When the hotel reopened in June, some of the public rooms were still undergoing renovations. The airline wanted to sell the Roosevelt along with the Hôtel Scribe in Paris, but PIA delayed the sale by several months because of the
Iraq War. Pakistani president
Pervez Musharraf indicated later that year that the sale might be delayed. At the time, there were rumors that the Roosevelt might be converted into an office building. Instead of selling the building, PIA spent around $3 million on relatively minor renovations. In 2005, PIA bought out most of its Saudi partner's stake in the Roosevelt and the Scribe, in exchange for $40 million and PIA's share of the Riyadh Minhal Hotel (a
Holiday Inn located on property owned by the prince). although several members of the
Pakistan Senate opposed the sale. At the time, the airline had recorded a loss of $96 million during the first nine months of that year. Ultimately, the increasing profitability of the hotel resulted in the sale being abandoned in late 2007. The hotel's managers also added a bar on the 19th floor, known as Mad46, in 2008. The next year, an indoor lounge was added to the hotel's bar. Instead, the Roosevelt underwent an $8.2 million renovation in 2011; the project included refurnishing each of the 1,015 units and the Madison Club Lounge. By then,
The Wall Street Journal described the Roosevelt as "a midprice destination for tourists and industry conference organizers". After East Midtown was
rezoned in 2014, city officials said a skyscraper could be developed on the site of the Roosevelt Hotel, although PIA had not proposed a new building there. PIA proposed selling the Roosevelt yet again in 2017 as part of a plan to raise $3.5 billion. Venture capitalist
Shahal M. Khan expressed interest in buying the hotel, telling
The Real Deal magazine that he planned to offer at least $500 million. Pakistani prime minister
Shahid Khaqan Abbasi rejected PIA's attempt to sell the hotel in December 2017. Early the next year, PIA officials indicated that they were considering leasing out the hotel for three or four decades. PIA refinanced the Roosevelt in 2018, obtaining a $105 million mortgage loan from
JPMorgan Chase.
Closure With the onset of the
COVID-19 pandemic in New York City in March 2020, most of the hotel's employees were furloughed, and occupancy rates dropped significantly. By that July, officials of the
Aviation Division of Pakistan indicated that the hotel might have to be closed permanently that December, as the hotel was losing $37 million per year. The same month, Pakistan's Cabinet Committee on Privatization decided to run the hotel through a joint venture rather than privatizing it. Trump, who at that time was U.S. president, subsequently expressed interest in buying the hotel from PIA. In September, Pakistan's Economic Coordination Council gave $142 million to the Roosevelt Hotel Corporation to settle outstanding debts and pay
severance to employees. At the time, nearly three-quarters of New York City's luxury hotels had not reopened. The hotel closed on December 18, 2020. The Pakistani Air Ministry refused to divulge its plans for the Roosevelt, which was boarded up, although the ministry said it was not planning to sell the hotel. One year after the Roosevelt closed, PIA had still not paid $7 million in severance to the hotel's workers, as was required by New York City law. This prompted the Hotel Trades Council to file a lawsuit against the New York City government, claiming that the city had failed to enforce the law. By early 2022, Australian mining firm Tethyan Copper sought to acquire the hotel after the Pakistani government reneged on a mineral-rights agreement with them. In addition, local politicians were advocating for the
New York City Landmarks Preservation Commission to designate the hotel building as a landmark. The
Qatar Investment Authority also showed interest in purchasing the hotel in August, offering to buy a 25 percent stake. At the time, Pakistan's aviation minister
Ghulam Sarwar Khan denied reports that PIA was planning to sell some shares in the hotel to Qatar. By that September, Pakistani officials were considering either reopening the hotel or leasing it out as a
mixed-use development. Pakistani officials indicated in early 2023 that they would not sell the hotel but, instead, planned to form a joint venture to operate the hotel. The hotel's future was still uncertain because PIA and Tethyan were still involved in a lawsuit over the hotel.
Use as shelter News sources reported in May 2023 that the New York City government was planning to use the hotel as temporary migrant housing, amid a sharp increase in the
number of asylum seekers traveling to the city. The
Pakistani cabinet gave its approval for the deal shortly thereafter, and signed a 3-year contract. The hotel, the city's ninth Humanitarian Emergency Response and Relief Center, was operated by DocGo. A welcome center opened at the hotel on May 15 of that year, The lobby was converted into an "arrival center", where medical workers, case workers, and translators assisted migrants. The Hotel and Gaming Trades Council labor union, which represents Roosevelt Hotel employees, negotiated a settlement to reopen the Roosevelt Hotel. Within three months of the processing center's opening, so many asylum seekers had gone to the hotel that some migrants had to sleep on the sidewalk while waiting for a room. By late 2023, the hotel processed 300 to 500 migrants a day and was home to about 3,000 migrants. Pakistani officials reviewed four proposals for the redevelopment of the Roosevelt Hotel in September 2023, and they selected
Jones Lang LaSalle in February 2024 as the site's
real estate brokerage. By April 2024, the migrant intake center had served 130,000 people. Following the reelection of
Donald Trump as U.S. president in 2024, members of
his administration expressed concerns that gang members and criminals were being housed at the hotel, and most of the employees were laid off the next month. The shelter's closure negatively impacted the Pakistani government's finances and prompted reports that the hotel site could be redeveloped or sold. The shelter closed June 24, 2025, having accommodated over 155,000 people from 150 countries. Jones Lang LaSalle quit as the hotel's adviser the same month, citing conflicts of interest. In February 2026, the Pakistani and U.S. governments tentatively agreed to allow redevelopment of the hotel site. == Notable guests and events ==