In early 2017, New York City’s iconic Waldorf Astoria Hotel will close its doors for approximately three years as the property undergoes a major conversion that transforms many guestrooms into Midtown condominiums. Roughly 1,100 of the hotel’s 1,413 rooms are slated to be refurbished, outfitted and sold as residences, while the remaining rooms will receive a comprehensive, luxury renovation.
The Waldorf Astoria first opened in 1893 and, over the decades, has seen a range of incremental updates. After more than a century of operation, China-based Anbang Insurance Group purchased the property in 2015 and announced plans for extensive improvements across the entire building. The redevelopment has raised concerns for the hotel’s roughly 1,500 employees, whose roles may change or be reduced as a significant portion of the property becomes residential. Anbang has stated, however, that the condominiums will offer five-star amenities and 24-hour services, which will continue to require a full professional staff.
Situated on Park Avenue just a few blocks north of Grand Central Terminal, the Waldorf Astoria has hosted countless notable visitors, from entertainment icons such as Frank Sinatra to U.S. presidents dating back to Herbert Hoover.