Real Estate
NYC's Waldorf Astoria to Start Luxury-Condo Sales This Year
- Chinese insurer Anbang bought Park Avenue landmark in 2015
- Progress on property watched closely amid Anbang’s struggles
China’s Anbang Insurance Group Co. is scouring the globe for condo buyers looking for a little -- or a lot -- of Park Avenue glamour.
Four years after buying the famed Waldorf Astoria for a record $1.95 billion, the insurer is getting ready to begin sales of 375 luxury apartments, betting that the hotel’s cachet can attract attention in a glutted market. Anbang selected Douglas Elliman Real Estate to find buyers for the units, which range from studios to five bedrooms, starting this fall.