Gencom shelled out nine figures for The Ritz-Carlton Central Park, adding another trophy to its Manhattan hotel portfolio.
The Miami-based investment firm acquired the 253-key luxury hotel at 50 Central Park South for about $320 million from Westbrook Partners, a source with knowledge of the deal said. Property records show a sale price of $270 million, but that figure does not typically include fixtures and non-real estate assets.
Banco Inbursa provided a $235 million loan for the acquisition, according to property records. The Mexican lender assumed the debt from KeyBank, which had originated the financing. Before the assumption, the loan balance had been paid down by $40 million, records show.
A Newmark team led by Adam Spies, Mark Schoenholtz and Marcella Fasulo represented Westbrook in the deal.
The property sits at the corner of Central Park South and Sixth Avenue, directly across from the park. The hotel is the latest acquisition in Gencom’s recent New York buying spree. In 2024, the firm acquired the Thompson Central Park Hotel, followed by the InterContinental New York Times Square in December 2025.
Founded in 1987 by Karim Alibhai, Gencom has nearly $8 billion in assets under management. The firm’s broader holdings include properties affiliated with brands such as Four Seasons, St. Regis and Auberge, among others.
The Central Park South property features park-facing rooms and 47 suites, a Club Lounge with panoramic views and a La Prairie Spa. In a press release, Gencom said the acquisition reflects continued confidence in New York’s luxury hotel sector.
Westbrook first bought a stake in the Ritz-Carlton Park from Millennium Partners for $105 million in 2012. The firm is also reportedly selling a 300-key Washington, D.C., Ritz-Carlton property to Trinity Partners, though the sale price of that transaction has yet to be disclosed.
Newmark and Gencom declined to comment. Westbrook did not immediately respond to a request for comment.
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