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.

“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.