The iconic five-star hotel, located opposite the Big Apple’s emblematic park, is passing into the hands of the luxury hotel real estate specialist, a major player in the United States. This acquisition allows Gencom to strengthen both its Ritz Carlton network across the Atlantic and its recently launched portfolio in New York.
The iconic Ritz-Carlton Central Park in New York is changing hands.
The luxury five-star hotel, also rated Forbes Five-Star and AAA Five Diamond, located at 50 Central Park South, is being sold by Westbrook Partners to the Gencom group. The transaction was financed by the international bank Banco Inbursa. Although the amount paid has not been disclosed, some sources estimate it to be around $400 million.
In the heart of Manhattan and opposite Central Park
“The Ritz-Carlton Central Park is one of the city’s most iconic properties, distinguished by its parkfront location and position at the heart of Manhattan’s luxury ecosystem,” said Karim Alibhai, founder of Gencom.
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Featured photo: © Ritz Carlton
