Soon New Yorkers may be able to live at the Waldorf Astoria. Now owned by China-based Anbang Insurance Group, the hotel is in talks of turning 1,000 rooms into condos. In 2015, the group submitted plans to gut the 12th and 24th floors which look to potentially be for the new units.
Currently, the property consists of 1,420 guestrooms, 181 of which are situated in the boutique Waldorf Tower hotel-within-a-hotel section. Last year a new law in the city also passed stating that hotels with over 150 guest rooms can only convert 20 percent of the property into private residences. To add more private homes, the group will have to go through a review process with the city.
Although the plans for the condos has not yet been officially announced, Anbang already seems to be moving in that direction. “We continue to explore all options, and no definitive plans have been finalized at this time,” Anbang said in a statement.
