Pakistan is seeking a valuation of at least $1 billion for the Roosevelt Hotel it owns in New York and is ready to part with a minority stake in the prime Manhattan property as it scouts for a redevelopment partner, a senior government official said.

Named after former US President Theodore Roosevelt, the century-old property in midtown Manhattan is seen as one of Pakistan’s most valuable foreign assets, which it acquired in 2000. Faced with mounting losses, the over 1,000-room hotel was shut in 2020, and has also operated briefly as a

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