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Ritz-Carlton hotels in Midtown Manhattan and Washington, D.C., are changing hands in a major transfer of luxury hotels.
Westbrook Partners, a Palm Beach Gardens, Florida-based real estate investment firm, has sold The Ritz-Carlton New York, Central Park and is on the verge of selling The Ritz-Carlton Washington, D.C. in the West End neighborhood of the nation’s capital.
Miami-based investor Gencom acquired the 253-room Manhattan hotel at 50 Central Park S., it announced on Friday. Trinity Investments, another Miami-based private real estate firm, is nearing a deal for the 300-key D.C. hotel at 1150 22nd St. NW, Bloomberg reported.
Westbrook, which has invested more than $14B of equity into real estate over the past three decades, also lined up Blackstone as a buyer for its Four Seasons Hotels San Francisco in November, Bloomberg previously reported.
The Ritz-Carlton overlooking Central Park is Gencom’s third NYC acquisition in less than 18 months, following its $300M purchase of the 587-key Thomson Central Park in 2024 and its $230M joint venture deal for the 607-key InterContinental New York Times Square in December.
“The Ritz-Carlton New York, Central Park exemplifies the standards of excellence that guide our investment strategy,” Gencom Chief Investment Officer Alessandro Colantonio said in a statement. “We are excited to elevate its position as one of the city’s premier luxury hotels.”
