NEW YORK CITY — Investment firm Gencom has acquired the 587-room Thompson Central Park Hotel in New York City. Ramsfield Hospitality Finance, funds managed by AB CarVal and Affinius Capital LLC provided a $230 million loan for the acquisition. Eastdil Secured represented the undisclosed seller in the transaction and also represented Gencom in arranging the acquisition financing.
Situated on Manhattan’s Billionaires’ Row just south of Central Park, the luxury hotel rises 42 stories on 56th Street. Formerly the Parker Hotel, the property underwent a $100 million renovation and rebranding beginning in 2021.
The hotel features 4,500 square feet of meeting space and various food-and-beverage concepts. A 6,500-square-foot Exhale Spa and fitness center is slated to open later this year.
The hotel’s “Upper Stories” experience includes a private arrival and departure process and an exclusive guest lounge. A collection of guestrooms and suites are perched on the property’s topmost floors.
Restaurants at the Thompson include Burger Joint, a popular burger eatery that is open for lunch and dinner; Parker’s, a restaurant on the hotel’s main level that features live music and crafted cocktails named after famous jazz songs; and Indian Accent, an upscale dining experience by Chef Manish Mehrotra that offers a twist on traditional Indian dishes.
The transaction marks Gencom’s first foray into the New York City market, which attracts more than 63 million business and leisure travelers annually, according to a release. The acquisition also marks the first addition of a Thompson Hotels-branded property to Gencom’s hospitality portfolio, which includes brands such as The Ritz-Carlton, Four Seasons Hotels and Resorts, St. Regis, Rosewood, Andaz, Fairmont and Auberge Resorts. Thompson Hotels are under the Hyatt umbrella of hotel properties.
Based in Miami, Gencom owns, operates and develops real estate around the world with an emphasis on luxury hotels, resorts and branded residential properties. The firm’s portfolio comprises nearly $8 billion in assets under management.
— Kristin Harlow