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The General Services Administration (GSA) announced the sale on Wednesday The building of the old post office<\/u><\/a> located at 1100 Pennsylvania Avenue in Washington, DC<\/p>\n The building used to be st Trump International Hotel<\/u><\/a> from 2016 to 2022, until the Trump family firm sold the lease rights for $375 million. The hotel reopened later in 2022 as the Waldorf Astoria Washington DC under Hilton management.<\/p>\n The GSA said the sale of the building included terms that “secured public access to the iconic clock tower in perpetuity, while establishing strong protections for the building’s architectural heritage through a binding conservation agreement.”<\/p>\n The deal also includes a special fine arts agreement that will retain ownership of artworks at the facility, including Robert Irwin’s “48 Shadow Planes” and a historic statue of Benjamin Franklin, with the American public.<\/p>\n TRUMP SHOWS OFF NEW LOCATION FOR WHCA DINNER AFTER CHAOS DERAILED GUN GALA<\/u><\/strong><\/a><\/p>\n The Old Post Office Building is a recognizable landmark on Pennsylvania Avenue.<\/span> (Kevin Carter\/Getty Images\/Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n The GSA sale is being promoted under the terms of an existing ground lease that gives BDT MSD Partners, a commercial bank, the right of first offer. <\/p>\n The Wall Street Journal<\/u><\/a> reports that BDT & MSD Partners purchased the building and land for $80 million, according to people familiar with the matter. The report notes that the bank is discussing the sale of real estate worth a total of $400 million.<\/p>\n The Hilton currently has a long-term agreement with the hotel to operate it as a Waldorf Astoria, and that arrangement will continue with the new tenant, the Journal reported.<\/p>\n TRUMP ORGANIZATION CLOSES $375M SALE OF DC HOTEL TO BECOME WALDORF ASTORIA<\/u><\/strong><\/a><\/p>\n The Old Post Office Building contains historic artwork, including a statue of Benjamin Franklin. <\/span> (Kevin Deitch\/Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n The Old Post Office building was completed in 1899 and originally served as headquarters for the US Post Office<\/u><\/a> Department and Post Office of Washington, DC<\/p>\n It is listed on the National Register of Historic Places, and its Romanesque architecture makes it one of the most recognizable buildings on Pennsylvania Avenue, with a prominent clock tower and atrium. The facility is also close to the White House and others Washington, DC<\/u><\/a> landmarks.<\/p>\n TRUMP ORGANIZATION WANTS TO TURN DC WALDORF-ASTORIA BACK AS TRUMP INTERNATIONAL HOTEL: REPORT<\/u><\/strong><\/a><\/p>\n Waldof Astoria, the former Trump International hotel in the Old Post Office Building in Washington, DC, as seen on August 18, 2022.<\/span> (Kent Nishimura\/Los Angeles Times via Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n According to the GSA announcement, before the property was converted to a hotel, taxpayers absorbed the building’s losses of about $6 million a year. <\/p>\n Since then, more than $250 million in private capital has been invested in the property income of taxpayers<\/u><\/a> over the past decade, including the current sale, is expected to exceed $110 million.<\/p>\n GSA listed dozens of others federally owned real estate<\/u><\/a> for sale since early last year as the Trump administration seeks to cut federal spending on underutilized office space and real estate.<\/p>\n![\"The](\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/06\/931\/523\/old-post-office-building-capitol-01.jpg?ve=1&tl=1\")
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