Washington, D.C
Former Trump International Hotel in DC Headed to Foreclosure Auction
CGI Merchant Group’s Waldorf Astoria hotel in Washington, D.C. is headed to a foreclosure auction in June after months of financial difficulties.
Chicago-based BDT & MSD Partners, the main lender of $285 million in financing backed by the hotel, filed an affidavit of nonresidential mortgage foreclosure on Friday, according to the Business Journals, which cited records filed with the D.C. Recorder of Deeds. The auction is scheduled for June 20 at the District office of Alex Cooper Auctioneers.
Miami-based CGI defaulted on $252.7 million in outstanding debt on the property earlier this year. CGI, in partnership with Hilton, purchased a leasehold on the 269-room hotel, at 1100 Pennsylvania Avenue NW, in 2022 for $375 million from former President Donald Trump. Within a month of acquiring the hotel, CGI rebranded it from the Trump International Hotel to the Waldorf Astoria.
“CGI is engaged in productive discussions with the property’s manager, Hilton, and several other parties who want to reach a consensual financing solution that reflects the realities of today’s challenging, rising rate environment,” a CGI spokesperson told Commercial Observer in a statement. “MSD’s unilateral decision to file a foreclosure notice is inconsistent with the discussions and possibly invalid. Although our goal is to continue advancing constructive negotiations with all parties, including MSD, we’re prepared to take all necessary steps to protect the rights of CGI and its partners.”
Representatives for BDT & MSD did not immediately respond to a request for comment.
The hotel is located within D.C.’s historic Old Post Office, which remains one of the tallest buildings in the District. The federal government in 2012 leased the property on a 60-year term to the Trump Organization, which then spent some $200 million renovating it into a luxury hotel.
The Trump International Hotel opened in 2016 just a few months before Trump was elected president. It was a source of controversy while Trump was in office because his family profited from the hotel, which was often visited by foreign dignitaries and their entourages.
Trump is currently facing a $355 million penalty for real estate fraud, with the hotel being one of the assets implicated in the case. The New York judge in that case ruled that he won the contract from the General Services Administration due to false information, rendering Trump and his children liable for the profit he received from the property.
Just because the foreclosure auction is set for the Waldorf Astoria, however, does not mean that its sale is a foregone conclusion. Before the auction was announced, CGI was in the midst of negotiating a $75 million capital infusion into the property from Mavik Capital Management — and it’s possible that CGI and MSD Partners could reach a new deal before the June 20 deadline.
“Mavik has not reached a definitive agreement to provide rescue capital to restructure the property’s balance sheet,” a Mavik spokesperson told Commercial Observer. “If the parties decide they want a consensual resolution, we will reengage and anchor a constructive outcome.”
Nick Trombola can be reached at ntrombola@commercialobserver.com.
WASHINGTON (7News) — An early Wednesday morning incident at D.C.’s Metro Center left multiple riders injured after a work vehicle made contact with a Silver Line train just before the end of service.
According to Metro officials, the train was holding at the station when the work vehicle struck the rear car shortly after midnight. Officials said there were 27 customers on board at the time.
Officials say 11 people reported non-life-threatening injuries and that Metro personnel were not seriously injured.
SEE ALSO | Metro’s board to vote on budget that calls for fully automated trains on the Red Line
Passengers who did not report injuries were transferred to another train and continued toward Downtown Largo.
The train involved was the final Silver Line run of the night.
Metro said the incident remains under investigation as crews work to determine the cause.
As of 3:30 a.m., it’s not clear what the potential impacts to the morning service may be.
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Earning enough to be considered middle class has gotten more expensive, with rising housing and everyday costs pushing the income bar higher, according to a recent report from GOBankingRates.
The median range for middle-class income across the country is between $59,000 and $104,000 in 2026, depending on which state you live in. GOBanking Rates used Pew Research Center’s definition of middle class — income ranging from two-thirds to twice a state’s median household income — and added data from the U.S. Census Bureau to report lowest middle-income, highest middle-class income and median income for each state, including Maryland and Virginia, and Washington D.C.
The current national middle-class minimum of $59,000 would have declared you middle class a decade ago in the U.S. In 2016, earning $39,000 placed a household at the lower edge of the middle class — and in regions like DC, MD and VA, median incomes were already far higher than the national median, so the “middle-class floor” was much higher than $39,000 even then.
In the DC region, the income required to be considered middle class is significantly higher than nationally, with the threshold starting around $61,000 in Virginia and nearly $69,000 in Maryland — compared with about $47,000 nationwide, GOBankingRates data shows. To be considered middle class in Washington DC, you’d have to earn at least $70,200. GoBankingRates omitted DC from their report; however, using the same formula and same US Census data cited, USA TODAY Network was able to calculate the low, high and median middle class income ranges. Here’s what the report shows and what we found for middle-class consideration in 2026.
What is middle class in Washington DC?
The middle class is a socioeconomic group in the U.S. that falls between the working class and upper class, earning around the middle of the income distribution for where they live. Middle class households often are able to cover their bills, rely on loans to buy homes or cars, and occasionally eat out or vacation, but not without careful budgeting, according to Investopedia.
Washington DC’s middle-class income in 2024 (the most recent year available from Census data) was between $70,200 and $209,600. GoBankingRates omitted DC middle-class data; however, USA TODAY Network used the same calculation, using the Census Bureau’s American Community Survey (ACS) and the Pew Research Center’s benchmark definition of middle class. Here is the breakdown for middle-class in Washington DC:
- Median household income: $104,800
- Lowest end of middle-class income: $70,200
- Highest end of middle-class income: $209,600
Due to the region’s high cost of living, Washington DC’s middle-class median income surpasses not only the U.S. median, but it’s neighbors in Delaware, Virginia and Maryland. It also slightly surpasses the median middle-class income of New Jersey.
What is middle class in Virginia?
In Virginia, the income needed to be considered middle class starts at about $61,400 and can range up to roughly $184,200, according to GOBankingRates. That is based on Pew Research Center’s definition — two-thirds to twice the median household income. Here’s the breakdown of Virginia’s middle-class income as reported in 2026 using the latest Census data available from 2024:
- Median household income: $92,090
- Lowest end of middle-class income: $61,393
- Highest end of middle-class income: $184,180
What is middle class in Maryland?
To be considered middle-class in Maryland, the income required starts at about $68,600 and can extend up to roughly $205,800, according to GOBankingRates, which used the latest 2024 U.S. Census Bureau data available in their 2026 report.
For many Maryland households, especially in the DC suburbs, earning what sounds like a solid income does not always translate into financial comfort once housing, childcare and community costs are factored in: Maryland housing costs (rent and home prices) are well above national averages, according to Zillow market trends, and commuting costs for DC-area workers are among the longest and costliest, Census data shows. Maryland also consistently ranks among the most expensive states for childcare, often surpassing $15,000 per year per child, according to a Care.com 2024 Cost of Care report.
Highest middle-class incomes in the US
- Massachusetts income range: $69,885 to $209,656
- Maryland income range: $68,603 to $205,810
- New Jersey income range: $69,529 to $208,588
- Hawaii income range: $67,163 to $201,490
- California income range: $66,766 to $200,298
- New Hampshire income range: $66,521 to $199,564
- Washington income range: $66,259 to $198,778
- Colorado income range: $64,742 to $194,226
- Connecticut income range: $64,033 to $192,098
- Virginia income range: $61,393 to $184,180
Lori Comstock is a New Jersey-based news reporter covering trending news with USA TODAY Network’s Mid-Atlantic Connect Team. She covers news in the Northeast, including New Jersey, Pennsylvania, Delaware, Washington DC, Maryland, and Virginia. Reach her at LComstock@usatodayco.com.
Washington, D.C
US industry leaders take sport fishing issues to Washington DC – Angling International
The impact of tariffs on the US fishing tackle industry and the need for sound fisheries management were among the topics discussed by attendees of the American Sportfishing Association (ASA)’s first ever Keep America Fishing in DC Fly-In.
It included industry leaders who last week joined together in Washington DC and all walked hundreds of miles across the US Capital Complex to advocate for the interests of the US trade and the entire recreational fishing community.
The group also enjoyed conversations with National Oceanic and Atmospheric Administration (NOAA) Director, Dr Neil Jacobs, Director of the US Fish and Wildlife Service, Brian Nesvik, Senator Martin Heinrich (D-NM) and Representative Blake Moore (R-UT).
ASA President and CEO, Glenn Hughes, said: “We look forward to continuing the conversation with legislators throughout the rest of this Congress and to an even bigger Keep America Fishing Fly-In in 2027.”
Above: From left: ASA President Glenn Hughes and Vice President of Government Affairs, Mike Leonard, with Senator Martin Heinrich (centre).
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