The hotel is expected to close by the end of October.
It has nearly 500 employees, some of whom were furloughed in March, while others were still on the job.
The Roosevelt Hotel opened its doors in 1924, located on East 45th Street just off Madison Avenue.
A spokesman for the hotel released the following statement:
Due to the current, unprecedented environment and the continued uncertain impact from COVID-19, the owners of The Roosevelt Hotel have made the difficult decision to close the hotel and the associates were notified this week. The iconic hotel, along with most of New York City, has experienced very low demand and as a result the hotel will cease operations before the end of the year. There are currently no plans for the building beyond the scheduled closing.
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