WASHINGTON, D.C. — The U.S. General Services Administration (GSA), the real estate operations arm of the federal government, has sold the Old Post Office building and former Trump hotel at 1100 Pennsylvania Ave. in Washington, D.C. The building currently operates as a 263-key Waldorf Astoria hotel.
Bank BDT & MSD, the owner of the leasehold, acquired the property for $80 million, according to The Wall Street Journal.
According to the GSA, the sale is part of an ongoing effort to eliminate costly properties from its asset portfolio. The GSA also recently sold the former Estes Kefauver Federal Building parking garage site in Nashville for $52 million.
According to the administration, the Old Post Office Building cost taxpayers approximately $6 million per year prior to 2013, when it was converted into a hotel by the Trump Organization. Since then, the property has received more than $250 million in private-sector investment.
“The GSA remains committed to solving long-term problems that exist in the federal portfolio of assets, reducing waste and delivering long-term value to the American people,” the GSA said in a press release.
The Old Post Office features the renown 315-foot clock tower, which houses the Bells of Congress, and is the third-tallest building in the city. The property is listed on the National Register of Historic Places and was originally constructed as the new D.C. Post Office in the late 19th century.
In 2013, the Trump Organization signed a lease to redevelop the property as a hotel under the Trump International Hotel brand. The hotel opened in October 2016. The Trump Organization sold the leasehold for $375 million in 2021 to Miami-based firm CGI Investors, which converted the hotel to a Waldorf Astoria. BDT & MSD acquired the leasehold in 2024.
As part of the sale, the GSA secured permanent public access to the clock tower, ensured the preservation of the historic architecture and maintained control over significant artwork, including Robert Irwin’s “48 Shadow Planes” and the Benjamin Franklin statue, through a dedicated fine arts covenant.
— Matthew Auchincloss