Roosevelt Hotel’s fate remains unclear despite White House-Pakistan deal

On Feb. 17, two days before news broke of an “agreement” for the US General Services Administration to team up with the Pakistani government to redevelop the Roosevelt Hotel, Pakistan’s Muhammad Ali, an advisor to Prime Minister Shehbaz Sharif, had this to say on Pakistani news station AAJ:

The Roosevelt “will be privatized through a joint-venture or redevelopment model rather than a direct sale,” Ali said. He envisioned a “joint venture” where Pakistan would “contribute the land while a private partner would inject around $1 billion” into a skyscraper project to replace the empty, 100-year hotel that’s technically owned by Pakistan International Airlines.

But of course, the JV idea has only been kicking around for five years. And in any event, how can the GSA — a federal bureaucracy that owns and manages buildings for federal employees — possibly kick-start Pakistan’s confused campaign to cash in on the Roosevelt, which it urgently needs to help pay $7 billion it owes to the International Monetary Fund?

The questions about the Roosevelt, which commands one of Manhattan’s choicest development sites on Madison Avenue between East 44th and 45th streets, had real estate insiders scratching their heads.

The announcement Thursday seemed to catch Washington flat-footed. The White House referred questions to the GSA, which got back to The Post Friday morning with a statement that did zero to explain exactly what the agency could accomplish for the Pakistanis that a succession of brokerages, banks  and advisors couldn’t.

“This agreement embodies the Trump Administration’s dedication to diplomacy and our nation’s economic prosperity,” said GSA Administrator Edward C. Forst. “GSA looks forward to working with the government of Pakistan on this project.”