New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Waldorf Will Launch Condo Sales This Fall
Amid a challenging time for high-end residential real estate, the Waldorf Astoria’s owners will begin marketing condominiums this fall. The historic hotel property has been closed while work has progressed on converting 375 hotel rooms to condos.
Beijing-based Anbang Insurance Group, which bought the Waldorf for $1.95 billion in 2015, has reportedly hired Douglas Elliman to market the condos.
The condos will range from studios to five bedrooms. Hilton Worldwide will manage the residences along with the more than 1,000 remaining hotel rooms, according to the report.
Douglas Elliman will try to highlight the history of the 88-year old Park Avenue hotel, the firm told the Wall Street Journal. “It’s a chance to own a piece of New York history and all the stories that go with it,” said Susan de França, chief executive of Douglas Elliman Development Marketing.
The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Sale/Acquisition
