The Old Post Office, a Pennsylvania Avenue landmark now home to the Waldorf Astoria hotel and high-end restaurants, has been sold to BDT & MSD Partners, the General Services Administration announced Wednesday.
“This sale supports GSA鈥檚 ongoing effort to reduce the federal government鈥檚 real estate holdings and concentrate resources on core assets,” . Other .
GSA did not reveal the purchase price of the Old Post Office property.
The BDT & MSD Partners, a merchant bank and the current leaseholder, paid $80 million for the building and the land at 1100 Pennsylvania Ave. NW, and is already in discussions to sell the property for as much as $400 million.
GSA said total taxpayer revenues from the property over the last 10 years, including the current sale, are expected to exceed $110 million.
That 10-year timeline includes the Old Post Office’s time as the Trump International Hotel, which opened in 2016 after a $200 million dollar renovation. At the time, the Trump Organization had a 60-year lease with the federal government.
The Trump hotel closed in 2022, and the federal lease was sold to investors who reopened the hotel as a Waldorf Astoria, a Hilton-owned brand.
“It remains business as usual at Waldorf Astoria Washington DC. Our team members continue to welcome guests with our signature hospitality,” a Hilton spokesperson told 蜜桃视频app.
Other tenants include Jose Andres’ Bazaar Meat and Sushi Nakazawa.
蜜桃视频app has also reached out to BDT & MSD Partners and the restaurants for comment.
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