Waldorf Astoria About To Be Turned Into Apartments

MIDTOWN MANHATTAN, NY — Construction work on a three-year project to convert the historic Waldorf Astoria hotel in Midtown Manhattan into a condominium building will begin in December, the Chinese company that purchased the hotel in 2014 announced Friday.

The Anbang Insurance Co. has contracted construction firm AECOM Tishman for the condo conversion of the Park Avenue hotel, the company announced Friday. Since the hotel closed in March, contractors have worked to preserve the building's newly-landmarked interiors and historic items such as the Cole Porter piano, the World’s Fair Clock Tower, the Kennedy Rocking Chair and the MacArthur Desk, Anbang announced.

"After months of meticulous planning and careful preparation, we are ready to begin the next phase of the renovation and have assembled an exceptional team to advance the project. We look forward to working closely with AECOM Tishman to carry out one of the most extensive restoration and renovation projects in New York City," Brandon Dong, managing director of the conversion project, said in a statement.

The conversion project will turn about 75 percent of the Waldorf Astoria's existing rooms into 350 condominium units. When the conversion is complete, about 350 Waldorf Astoria hotel rooms will remain. The converted hotel and condo complex will also feature renovated public and event spaces, Anbang announced Friday.

"The Waldorf Astoria New York is where our brand’s history of timeless luxury and inspirational environments began," John T.A. Vanderslice, global head of Waldorf Astoria Hotels & Resorts, said in a statement. "We have been working closely and collaboratively with Anbang on the renovation of the Waldorf Astoria New York and we are confident that the restoration will ensure that the hotel retains its rightful place as a focal point for New York City and a premier destination for the world."

In March, the city Landmarks Preservation Commission voted unanimously to protect some of the Waldorf Astoria's "most lavish" interior spaces less than a week after the hotel was closed. Landmarks designation was granted to connected rooms and corridors on the ground, first, second and third floors, which means they will be protected as workers gut about 75 percent of the Waldorf Astoria's existing rooms and turn them into condominiums. Some of the protected interiors include the hotel's main lobby, Park Avenue lobby, the grand ballroom, the jade room and Astor gallery.

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