The Miami-based investment firm has acquired the 253-story luxury hotel at 50 Central Park South from Westbrook Partners for about $320 million, a source with knowledge of the deal said. Real estate data shows a sales price of $270 million, but that figure typically does not include inventory and non-real estate.
Banco Inbursa provided a $235 million loan for the acquisition, according to ownership records. The Mexican lender took over the debt from KeyBank, which had initiated 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 is located on the corner of Central Park South and Sixth Avenue, directly across from the park. The hotel is the latest addition to Gencom’s recent buying spree in New York. In 2024, the company 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 company’s broader holdings include properties associated with brands such as Four Seasons, St. Regis and Auberge, among others.
The Central Park South property features rooms and 47 suites with park views, 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 purchased a stake in the Ritz-Carlton Park from Millennium Partners in 2012 for $105 million. The company is also reportedly selling a 300-key Washington, D.C., Ritz-Carlton property to Trinity Partners, although the sales 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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