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’s ongoing effort to reduce the federal government’s real estate holdings and concentrate resources on core assets,” the agency said in a statement. Other properties for sale are listed on the GSA’s website.
GSA did not reveal the purchase price of the Old Post Office property.
The Wall Street Journal reported 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 WTOP.
Other tenants include Jose Andres’ Bazaar Meat and Sushi Nakazawa.
WTOP has also reached out to BDT & MSD Partners and the restaurants for comment.
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