Real Estate: NYC’s Waldorf Astoria Hotel Converting to Condos

$HLT

New York’s landmark Waldorf Astoria Hotel to close in the Spring of Y 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums.

The luxury hotel, managed by Hilton Worldwide Holdings Inc. (NYSE:HLT)  is set to reopen in Y 2020, with about 300 to 500 hotel rooms remaining.

News of the planned Spring closing was reported earlier Sunday by the WS-J.

Hilton referred questions to Anbang.

Anbang bought the Waldorf Astoria, the Art Deco icon on Park Ave, in February 2015 for $1.95-B, a record price for a US hotel, and has said it plans to convert most of the property to luxury condos.

Have a terrific week

  #Anbang, #closing, #condos, #Hilton, #HLT, #hotel, #luxury, #NYC, #Park Ave, #spring, #Waldorf

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