Miami-based investment firm Gencom bought the 253-key Ritz-Carlton New York, Central Park.
This is Gencom’s third luxury hotel acquisition in the city in recent years. It bought the Thompson Central Park in 2024 for $308 million and the InterContinental New York Times Square in December 2025 through a joint venture for $230 million. This is also the company’s 11th Ritz-Carlton-branded hotel.
Though it did not disclose the financial details of Central Park hotel deal, Gencom shared it was financed by Banco Inbursa, an international financial institution. CoStar data shows the previous owners were Millennium Partners and Westbrook Partners. Westbrook took a partial ownership stake in the property with a $105 million investment in 2012. Prior to that, Millennium Partners was the sole owner, having purchased the hotel for $88.82 million in 2006.
“Gencom continues to see compelling long-term opportunities in New York City, particularly for luxury assets with enduring global appeal,” said Karim Alibhai, founder and principal of Gencom, in the news release outlining the deal.
The hotel is located at the corner of Central Park South and Sixth Avenue, right by Central Park itself and near luxury shopping corridor Fifth Avenue. The hotel features the Contour restaurant as well as the Ritz-Carlton Club Lounge. It also has a La Prairie Spa and a newly renovated fitness center.
In an interview with CoStar News Hotels in late 2025, Alessandro Colantonio, Gencom's executive vice president and chief investment officer, said about its $230-million purchase of the InterContinental New York Times Square: “I didn’t think we would move this quickly to do more in New York, but it’s a market we continue to like. We think there’s great long-term trends going on here: supply, demand, tourism numbers.”
He also said then that regardless of where the hotel industry is in its cycle, Gencom is actively evaluating potential deals.
“We tend to be opportunistic regardless of the capital cycle,” he said. “There's always ways to either find distress or find opportunity if you really trust your team and trust your business plan.”