New York City (Khyber Mail) July 10, 2025 — The iconic Roosevelt Hotel in Midtown Manhattan has officially closed its doors following nearly three years of service as New York City’s largest migrant intake and shelter center. The closure marks the end of a humanitarian chapter that saw over 155,000 asylum seekers from more than 160 countries pass through the hotel’s halls, receiving legal, medical, and housing support funded by city taxpayers.
Originally shuttered in 2020 due to pandemic-related losses, the Roosevelt was reopened in May 2023 under a $220 million lease agreement with the city. The facility operated as a centralized hub for migrant registration, health screenings, and asylum application assistance, with National Guard personnel stationed onsite to manage daily arrivals. At its peak, the hotel housed up to 3,000 migrants per night, including pregnant women and individuals with serious medical conditions.
Mayor Eric Adams confirmed the closure on July 2, citing a sharp decline in weekly arrivals—from 4,000 in 2023 to fewer than 100 in mid-2025. The Roosevelt’s shutdown is part of a broader city initiative that has already closed 62 emergency shelters, saving an estimated $5.2 billion over three fiscal years.
The hotel’s future now shifts to the international stage. Owned by the Government of Pakistan through Pakistan International Airlines Investment Limited (PIAIL), the Roosevelt is considered one of Pakistan’s most valuable overseas assets. As part of its $7 billion IMF-backed privatization program, Pakistan has approved a joint venture redevelopment model, targeting a $1 billion valuation for the 42,000-square-foot property.
Real estate firm Jones Lang LaSalle (JLL) has been appointed to manage the process, which envisions transforming the site into a mixed-use residential and office complex. Pakistan plans to retain ownership through an equity partnership, with an initial payment of $100 million expected by June 2026. The redevelopment is projected to take four to five years, with high investor interest already reported.
The Roosevelt Hotel, named after President Theodore Roosevelt, now transitions from a symbol of emergency response to a cornerstone of international investment strategy—bridging humanitarian legacy with commercial ambition.