Property News · February 25, 2020

Luxury condos at the converted Waldorf Astoria building set to debut amid a glut in Manhattan’s residential real estate market


New York’s closed Waldorf Astoria will re-emerge this week as a condo building, testing whether nostalgia for a cherished landmark can spark high-dollar deals in a market glutted with luxury homes.The Park Avenue property, a high-society hang-out that counted Frank Sinatra and Marilyn Monroe as tenants, has been getting primed for this moment since 2015. That’s when China’s Anbang Insurance Group bought it for a record US$1.95 billion with plans to convert a portion of the 1,400-room hotel into…

Source : South China Morning Post
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