CHAP AREIN: Waldorf Astoria’s 375 condos to hit the market this fall

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Developer Anbang said yesterday that it’ll bring the iconic Art Deco building’s 375 new condos to the market later this year with Douglas Elliman Development Marketing, with Knight Frank working on international sales.

The project has also gotten a new name—the Towers of the Waldorf Astoria—as well as a teaser website, which doesn’t have much to it beyond a video focusing on the statue known as The Spirit of Achievement that sits above the hotel’s Park Avenue entrance. (Why that? According to text on the website, the statue “epitomizes the timeless glamour, ambition, and innovation of the Waldorf Astoria,” and “this legacy inspires a new collection of contemporary residences.”)

The hotel/condo conversion of the famed NYC property has been in the works for several years; Anbang bought the Waldorf in 2014 for a whopping $2 billion, and the hotel closed in 2017 to facilitate construction. As of last year, initial pre-demolition work on the property had finished, with the real work—of transforming hotel rooms into luxurious condos, some with enormous floorplans—now underway.


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