Gencom shelled out six figures for The Ritz-Carlton Central Park, including one other trophy to its Manhattan resort portfolio.
The Miami-based funding agency acquired the 253-key luxurious resort at 50 Central Park South for about $320 million from Westbrook Companions, a supply with data of the deal mentioned. Property information present a sale value of $270 million, however that determine doesn’t usually embrace fixtures and non-real property property.
Banco Inbursa supplied a $235 million mortgage for the acquisition, in keeping with property information. The Mexican lender assumed the debt from KeyBank, which had originated the financing. Earlier than the idea, the mortgage stability had been paid down by $40 million, information present.
A Newmark group led by Adam Spies, Mark Schoenholtz and Marcella Fasulo represented Westbrook within the deal.
The property sits on the nook of Central Park South and Sixth Avenue, immediately throughout from the park. The resort is the newest acquisition in Gencom’s latest New York shopping for spree. In 2024, the agency acquired the Thompson Central Park Hotel, adopted by the InterContinental New York Times Square in December 2025.
Based in 1987 by Karim Alibhai, Gencom has practically $8 billion in property beneath administration. The agency’s broader holdings embrace properties affiliated with manufacturers corresponding to 4 Seasons, St. Regis and Auberge, amongst others.
The Central Park South property options park-facing rooms and 47 suites, a Membership Lounge with panoramic views and a La Prairie Spa. In a press launch, Gencom mentioned the acquisition displays continued confidence in New York’s luxurious resort sector.
Westbrook first bought a stake within the Ritz-Carlton Park from Millennium Companions for $105 million in 2012. The agency can also be reportedly promoting a 300-key Washington, D.C., Ritz-Carlton property to Trinity Companions, although the sale value of that transaction has but to be disclosed.
Newmark and Gencom declined to remark. Westbrook didn’t instantly reply to a request for remark.
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